Under the Austro-Hungarian Dual Monarchy, both countries had economic autonomy, but because of their alliance they shared a common market and monetary system. This arrangement was a decisive element in Hungary's development during this dynamic era, which was characterized by a surge in the country's economy, population, modernization, and cultural, civil, and legal institutions. László Katus covers the major political parties and social trends of this period as well as the changes in its ethnic and religious population, which later proved detrimental to the monarchy.