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Global Austria

Günter Bischof
Fritz Plasser

I. Austria and the World

Vienna: The Eventful History of a Financial Center

Andreas Resch et Dieter Stiefel

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The last century and a half has been a time of radical change for Austria with marked disruptions in the political, economic, and social development of the nation. Vienna as a financial hub also experienced dramatic changes on several occasions. Phases of economic disintegration and integration, of crises and rapid growth, have alternated many times. In the nineteenth century, Vienna was a financial center for Central, Eastern, and South-Eastern Europe, and it is again today. Within this period, however, lies an eventful story.

The last Decades of the Habsburg Empire

The history of the development of Vienna as a financial center goes back to the eighteenth century.1 In 1771, the Vienna Stock Exchange was the first to be founded in Central Europe.2 It was created after those in Antwerp, London, and Paris, but a quarter of a century before Berlin.3 Initially, the Stock Exchange served the exclusive purpose of trading in government securities. From the 1830s onwards, trading in railroads...

© innsbruck university press, 2011

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