The Romanian Bank Credit System during the Interwar Period. The Economic Perspective of Mitiţă Constantinescu

The “Great Depression” from 1929-1933 caused a series of negative effects upon the worldwide economies, which highlighted a wide range of shortcomings these economies were confronting long time ago. Romania had to face one of the most important sustainability tests in the history. The solutions elaborated by the economists of that time concentrated upon the development of recovery plans and the optimal use of the financial resources. One of the key sector taken into consideration was the banking system. The main purpose of this article is to present a short review considering the role of the bank credit, as an instrument in promoting economic growth and development, in the view of Mitită Constantinescu, the Governor of the Romanian National Bank between 1938 and 1939. As a man of state and of finance, Mitiţă Constantinescu tried to reorganize and modernize it, in order to respond to the specific needs of the society.