An Evaluation on Austria-Hungary’s Industrial Process

Article Information
Journal: Business and Economics Research Journal
Title of Article: An Evaluation on Austria-Hungary’s Industrial Process
Author(s): Ayda Aslan
Volume: 12
Number: 4
Year: 2021
Page: 813-827
ISSN: 2619-9491
DOI Number: 10.20409/berj.2021.354
This study examines the dynamics behind the industrialization of Austria and Hungary, which entered the industrial revolution late. In these countries where there are no prerequisites for industrialization, these conditions are replaced by substitutes. According to the historical findings obtained from the industrial processes of the Habsburg empire, which consists of two independent states in its internal affairs, the substitutional factors and institutions in the industrialization processes of the two countries vary. In this context, the study, on the one hand, tries to explain the industrialization processes of Austria and Hungary between 1850-1913 comparatively, on the other hand, it reveals the heterogeneous structure of the institutions and institutional qualities of the countries that have fulfilled the necessary conditions for the industrialization process under the same empire.

Keywords: Austria, Hungary, Industrialization, Universal Banks, Government Policies, Institutional Factors

JEL Classification: N13, O23, N64 Full Text