The history of DZ BANK

Cooperative central banking from the nineteenth century to today

By Timothy Guinnane, Stephan Paul, Theresia Theurl, Harald Wixforth, Joachim Scholtyseck and Patrick Bormann. 640 pages with 20 images, 8 maps, 17 tables and 58 pictures in 2 Tafelteilen. Linen € 38.00 ISBN 978-3-406-64063-6

Date of publication: 21 January 2013

DZ BANK is the central institution of the local cooperative banks in Germany and is one of the country’s most important financial institutions. In this book well-known economic historians relate its history clearly and with close reference to the sources. The authors cover the period from the founding fathers, above all Hermann Schulze-Delitzsch, Friedrich Wilhelm Raiffeisen and Wilhelm Haas, to the present, embedding the history of cooperative central banking in general economic and political developments.

The roots of DZ BANK lie in the cooperative banking system of the nineteenth century, in particular in the Preußische Zentralgenossenschaftskasse established in 1895. Ever since they were established the cooperative banks have played an important role in supplying credit to broad sections of the business economy and have made a decisive contribution to the creation of the “Mittelstand” as an element of stability in Germany. To date, however, economic historians have paid little heed to the history of the cooperative banks. This also applies to the role played by the cooperative central banking system. Filling this gap is the major concern of this book.