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Prawne problemy działalności gospodarczej jednostek samorządu terytorialnego

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Zieliński T.
Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie
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2004
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issue 6
153-174
PL
Przedmiotem artykułu jest analiza prawna działalności gospodarczej jednostek samorządu terytorialnego. Autor koncentruje rozważania na prawnych zagadnieniach dopuszczenia przez ustawodawcę możliwości prowadzenia działalności gospodarczej przez te jednostki, co budzi wiele wątpliwości nie tylko natury prawnej.
EN
The paper brings up the legal aspects of taking up and performing the business activity by the local governments. The aim of the author is to give answers to the following questions: — what has the legislative authority meant by the idea of "business activity" taken up by local governments: what differs it from the business activity performed by a commercial entities and under what legal regulations local governments have been authorized to perform such activities, — what's the acceptable range of business activities performed by local governments, with particular consideration of criteria which differentiate business activity in the field of public utilities and commercial activities, — in what legal-organizational forms may local governments perform business activity?
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Współczesny bank wobec paradygmatu zaufania publicznego

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Zieliński T.
Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia
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2013
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vol. 47
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issue 3
EN
Evaluation of contemporary bank is usually determined by the experience of financial crises with banks in the leading role. In this context, the idea that the bank is the subject of a  special social mission is more and more questionable. The dilemma of “public confidence” in the bank requires attention to the nature of trust in business relationships. The study highlights the three perspectives of the trust based relationship, known as: the bill of trust, immanent credibility and forced trust. Presented on selected examples, the implementation of the idea of trust in each of these areas is undermined. The underlying cause of this is fundamental systematic conflict. It does not allow state institutions to effectively control the banks, while, at the same time, taking over the responsibility for their safety. The only way out of this impasse is separation of deposit – credit banking (which would be under the control of the state) from investing activities. This would mean a  return of the Glass Steagall Act spirit. This concept is considered at the work on the next instalment of the Basel regulations (Basel III) as well as the “banking union”.
PL
Artykuł nie zawiera abstraktu w języku polskim
3
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Dlaczego pieniądz elektroniczny pozostaje martwą koncepcją?

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Zieliński T.
Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia
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2014
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vol. 48
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issue 3
EN
The term electronic money operates in two meanings. The first meaning refers to all types of pay- ment innovations, at least partly based on information infrastructure. 14 years ago, narrowly trimmed definition of electronic money was established. Based on legal documents it refers to specific type of payment innovations, transferring money values directly between electronic money instruments, pos- sessed by the sides of the payment. Narrowly established concept of electronic money seemed to start a new period in the contemporary history of money. Its effect would be the substitution of traditional, paper-based cash, with its electronic equivalent. Unfortunately, the experience of the past several years did not confirm those expectations. The concept of electronic money has failed in practice. Many aspects of that state could be taken into account (social, legal, technical, business). It seems however, that crucial factors come from monetary sphere. These are just monetary aspects which seem to stop central banks from strong support of a new idea of electronic cash.
PL
Artykuł nie zawiera abstraktu w języku polskim
4
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Plutarch z Cheronei (Demetr. 32. 5–7) i wojna diadochów w latach 299–298 p.n.e.

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Zieliński T.
Studia Antiquitatis et Medii Aevi Incohantis
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2020
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vol. 5
42-67
EN
The main issue of this article is response to the assumption of some researchers about the Diadochi War in 299-298 B.C. The analysis of our sources demonstrates that there are no sufficient evidences to such conclusions.
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Nowy Dionizos czy syn Posejdona? De(kon)strukcja obrazu Demetriusza Poliorketesa w świetle nowożytnej historiografii

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Zieliński T.
Studia Antiquitatis et Medii Aevi Incohantis
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2021
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vol. 6
27-57
EN
This article is focused on the research of modern historians concerning the importance of Dionysus and Poseidon in Demetrius Poliorcetes’ self-representation. It draws attention to the change of approach adopted by recent studies and the multiple ambiguous interpretations that have been offered.
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"Zarażenie finansowe" źródłem ryzyka systemowego

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Zieliński T.
Studia Ekonomiczne
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2013
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vol. 173
129-140
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.
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Separacja bankowości detalicznej i komercyjnej od działalności inwestycyjnej banków – poszukiwanie dróg do stabilnego systemu finansowego

100%
Zieliński T.
Studia Ekonomiczne
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2015
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vol. 246
124-139
PL
Koncepcja separacji bankowości depozytowo-kredytowej od inwestycyjnej aktywności banków uniwersalnych ożywiła się w ostatnich latach w konsekwencji kryzysu finansowego 2008 roku. Organy nadzorcze różnych państw zaczęły poszukiwać dróg zapewnienia bardziej stabilnego systemu bankowego, a w konsekwencji systemu finansowego. Wiele proponowanych rozwiązań wiąże się ze zmianą paradygmatu banku jako instytucji zaufania publicznego. Rozważa się między innymi powrót do koncepcji zapoczątkowanej w sposób spektakularny ustawą Glassa Steagalla. W chwili obecnej perspektywa powrotu do modelu odrębności banków inwestycyjnych i depozytowo--kredytowych znajduje jednak równie wielu zwolenników, co oponentów.
EN
The concept of the separation between deposit-credit and investing activities of universal banks revived in recent years as a result of the financial crisis of 2008 years. The supervisory authorities have begun to seek ways to ensure a more stable banking system and more resilient financial system. Many proposed solutions involve a change in the paradigm of the bank as an institution of public trust. Considering, inter alia, returning to the concept started in spectacular way with Glass Steagall Act. At the moment, however, the prospect of returning to the model of separation between investment and deposit-credit banks has as many supporters as opponents.
8
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Niejednoznaczność wpływu regulacji bazylejskich na bank jako instytucję zaufania publicznego

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Zieliński T.
Studia Ekonomiczne
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2014
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vol. 171
31-49
EN
Contemporary banks are concerned as specially responsible for financial crisis. Common disappointment of their functioning comes especially from deeply grounded doctrine of special role, banks play in economy. It states, that independently from their purely commercial goals, banks should also be the entities of public trust. That role imposes special duties and obligations on banks, which were not always fulfilled for last years. The image of public trust is based on multidimensional safety structure. One of its pillars could be labelled as "forced trust" and is supported with the set of regulations. As a main institutional source of international banking regulations, the Basel Committee could be considered. Main regulations prepared with that body are known as Basel I, Basel II and Basel III. All of them made a great impact on the culture of banking risk management and invoked an awareness of various types of dangers banks are exposed to. At the same time however, it could be proved, that evidently positive impact of regulations is accompanied also by negative ones. In many cases banking regulations initiated such an unwanted phenomena as "regulatory arbitrage" or "negative selection". In a paper some aspects of that darker side of basel regulations are presented in chronological order.
9
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Testy warunków skrajnych w ocenie adekwatności kapitałowej banku

100%
Zieliński T.
Studia Ekonomiczne
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2014
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vol. 186 cz 1
304-320
EN
Capital adequacy of the bank is only theoretical concept. In conditions of extreme complexity of banking activity as well as its market environment, it's impossible to ensure, that in case of bankruptcy, the bank is able to fully satisfy all of its external obligations. Contemporary, prudential regulations tend to improve regulatory framework of calculating economic capital in possibly the most perfect way. Providing coverage of economic capital in own funds, bank ensures the best safeguard for its stability. Unfortunately, all capital measures appear to be highly imperfect because of inconsistency of stylized statistical models with much more complex reality. One of the relatively new solutions, which are expected to improve the foregoing methodology, became stress testing method. Its role is to take into account not only typical risks events, but also those that may occur with a very little probability, but which may also result with serious losses. The main target for this paper is to introduce basic ideas of stress testing, to present fundamental rationales and to confront its pros and cons.
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Odwołania do Aleksandra Wielkiego i ich rola w Żywocie Demetriusza Plutarcha z Cheronei

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Zieliński T.
Collectanea Philologica
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2020
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issue 23
73-89
EN
Among all Plutarch’s Lives of men that lived after IV B.C., the biography of Demetrius Poliorcetes contains the most references to Alexander the Great. It is noteworthy that references to this figure in comparison to other Plutarchean biographies occur in greater numbers and in various contexts. The article is an attempt to demonstrate that the references to Alexander the Great played an important role in the construction of the Plutarch’s Life of Demetrius. Thus their purpose was to portrayal Poliorcetes as a failed imitator of famous Macedonian king. The considerations presented in the article can be used as an argument for changing the image of Demetrius in scholarly literature.
11
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Financial Repression - How to Finance Public Debt with Private Money

100%
Zieliński T.
Journal of Economics and Management
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2014
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vol. 16
161-179
EN
As a result of subprime crisis, most major developed countries are at extraordinarily high debt levels. Some of them reached the level of public debt close to 100% of GDP. An additional problem is usually sustaining high level of budget deficit. Extreme imbalance of public budget can trigger the new crisis of the unprecedented scale. To solve the problem, governments could try to reduce debt-to-GDP ratios by holding debt constant and stimulating increase of GDP. However, it would require dramatic, socially and politically unacceptable austerity measures. The additional difficulty here is that GDP drops along with spending, so the economy as a whole shrinks and the debt-to-GDP ratio may not improve in that case. Eventually, austerity programs implemented so far have not brought the expected results. The alternative to austerity plans emergency exit could become "financial repression". It relies on inflation, but it is a steady, stealthy process and therefore much more politically acceptable. By keeping interest rates low, governments receive cheap funding. On one hand, higher inflation will lead to faster nominal GDP growth and on the other, it will liquidate the size of the government debt burden by an amount equal to the negative real interest rate (impairing private savings at the same time). The paper presents the principle of "financial repression" and, on the basis of simulations, demonstrates its effectiveness. (original abstract)
12
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Merton's and KMV Models in Credit Risk Management

100%
Zieliński T.
Studia Ekonomiczne
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2013
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vol. 127
123-135
PL
Widmo kryzysu finansowego, w którym są pogrążone współczesne gospodarki, wywiera rosnącą presję na inwestorów poszukujących coraz efektywniejszych narzędzi zarządzania ryzykiem kredytowym. Czynnikiem szczególnie mobilizującym do tych poszukiwań stała się znaczna utrata wiarygodności przez instytucje ratingowe, których oceny były dotychczas głównym wyznacznikiem zdolności kredytowej kredytobiorców. Alternatywą zdają się być modele strukturalne bazujące na fundamentalnych przesłankach odwołujących się głównie do relacji aktywów dłużnika do wielkości jego długu wraz z prognozowaną zmiennością wartości rynkowej aktywów. Do najbardziej znanych modeli tej kategorii należą model Mertona i jego praktyczna implementacja określana mianem modelu KMV. Opracowanie zawiera zarys koncepcji powyższych modeli, ze szczególnym wskazaniem na przesłanki ich wykorzystania.
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