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Uwarunkowania i specyfika chińskiego modelu rozwoju społeczno -gospodarczego

100%

Ostrowska M.

Studia Ekonomiczne

2015

vol. 213

130-141

Artykuł stanowi analizę specyfiki chińskiego modelu rozwoju społeczno- gospodarczego, a także przedstawia główne kierunki przemian, jakie nastąpiły w Chi¬nach po 1978 r. Wskazano czynniki decydujące o szybkim wzroście chińskiej gospo¬darki, a także główne zagrożenia związane ze starym modelem wzrostu. Przedstawiono najważniejsze aspekty planu gospodarczego na lata 2011-2015. Artykuł kończy analiza danych dotyczących poziomu rozwoju społecznego i innowacyjności Chin ze względu na fakt, że to konsumpcja prywatna, która będzie wynikać z poprawy jakości życia, oraz in-nowacyjność mają zgodnie z założeniami władz stać się motorami dalszego rozwoju Chin.

The article is an analysis of the specifics of the Chinese model of economic and social development. It presents the main changes that have taken place in China since the year 1978. In the article there were indicated factors responsible for the rapid economic growth as well as the main risks associated with the ‘old growth model’. There were pre¬sented the most important aspects of the economic plan for the period 2011-2015. The ar¬ticle concludes with an analysis of basic data on the level of social development and in¬novation of China, as the private consumption, as result of improved quality of life, and innovation may become driving forces for further development of China.

Rozwój sektora finansowego a wzrost gospodarczy na przykładzie Indii

51%

Ostrowska M., Lach M., Wójcicka K.

Ekonomia - Uniwersytet Ekonomiczny we Wroclawiu

2013

issue 3 (24)

44-62

The aim of the article is to analyze the relationship between financial system development and economic growth. The influence of financial system development on real economy has been an object of interest of economists for a long time, which is confirmed by numerous empirical studies. A vast majority of scientists believes that there is a strong positive correlation between the level of financial development (financial system development in particular) and economic growth. Many empirical studies confirm that countries with a well developed financial system manage to achieve improvement in various social development indicators at the same time. The analysis presented in the article is based on the case study of India, an emerging market, where a number of financial reforms took place. The reforms enabled development of both the Indian banking sector and capital market. In the last couple of years India joined the group of countries with huge development potential. Due to steady economic growth, India has entered the top 10 of the world biggest economies. Financial system reforms contributed to the increase in the number of banks. New private banks were established and foreign banks entered the market. Unfortunately, it has proved not to be sufficient to grant an entire financial inclusion. In spite of the fact that financial assets in India are dominated by banking assets, the further development of banking sector is impeded by high agency costs and obstacles to market penetration. Even though the banking sector in India is relatively big, only 55 percent of population owns bank accounts and merely 5.9 percent − credit cards. In economic literature it is commonly accepted that microfinance creates an opportunity for the poor to access banking products and services, which should consequently lead to further economic growth. Capital market deregulation and liberalization attracted professional intermediaries and resulted in an increase in listed companies. During the upswing on global financial markets, the market capitalization to GDP ratio in India was higher than the ratio in developed economies. However, dynamic growth of market valuations of listed companies is not matched by the trading volume, which is proved by relatively low values of turnover ratio and stocks traded-to-GDP ratio. In a short period of time India managed to create a well-developed derivatives market from scratch. However, fixed income market in India is dominated by Treasury securities with corporate debt constituting only a small and illiquid segment of the market. Developed equity market and new lending growth constitute an important source of capital necessary for further development of domestic companies.

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1 Ekonomia - Uniwersytet Ekonomiczny we Wroclawiu

1 Studia Ekonomiczne

1 2015

1 2013

2 Ostrowska M.

1 Lach M.

1 Wójcicka K.

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Uwarunkowania i specyfika chińskiego modelu rozwoju społeczno -gospodarczego

Rozwój sektora finansowego a wzrost gospodarczy na przykładzie Indii