"Zarażenie finansowe" źródłem ryzyka systemowego

• Authors: Tomasz Zieliński

Title variants

EN

"Financial Contagion" as the Source of Systematic Risk

• Languages of publication: PL

Abstracts

EN

The seriousness of the last financial crises and difficulties in explaining its spread have led to the discussion about new phenomena known as "financial contagion". This paper studies rational channels through which contagion might have spread and highlights those factors which make a country susceptible to contagion. The rational channels studied in the paper are contagion via real sector linkages, financial market linkages, financial institution linkages, and through the interaction of financial institutions and financial markets. As a main reason of the contagion, the "finacialisation" of economies has been pointed out. It makes financial sector responsible for the most systematic instabilities in global economies. It results also in common replacing general description of "contagion" phenomena with its narrower term "financial contagion". Some rationale of that type of contagion was also discussed with following eventual conclusion, that simplification of financial sector and putting it back to the subordinated role to real economy, is the only way of making the unavoidable phenomena less destructive.

Keywords

PL

Finanse; Ryzyko finansowe

EN

Finance; Financial risk

• Publisher: Uniwersytet Ekonomiczny w Katowicach
• Journal: Studia Ekonomiczne
• Year: 2013
• Volume: 173
• Pages: 129-140

Contributors

author

Tomasz Zieliński

References

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Identifiers

ISSN

2083-8611