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The impact of the financial sector on economic growth

100%
Włodarczyk B., Szturo M.
FINANSE Czasopismo Komitetu Nauk o Finansach PAN
|
2018
|
issue 1(11)
9-25
EN
The approach of a unilateral impact of the financial sector on economic growth was invalidated by the last financial crisis which very quickly changed into a global economic crisis. The aim of the study is the analysis of the impact of the financial sector on economic growth in the context of the growing phenomenon of financialization, which was one of the significant reasons of the financial crisis. The study was focused on presenting the growing scale of this phenomenon and analysing the impact of money supply in USD and EUR on world GDP and the GDP of the USA and the Eurozone. The following hypothesis was postulated: the growing process of financialization causes the growth of the USD and EUR supply, influencing changes in the world GDP, the GDP of the USA and the Eurozone. The study confirmed the hypothesis of the relation of the money supply with changes in economic growth. However, influencing economic growth with the money supply causes the purchasing power of business entities to decrease and causes growing debt. Furthermore, it does not contribute to the strength of the real economy. A repair of the current “system“ should not be sought for in constantly increasing macroprudential regulations, but in a return to a country’s interventionism, leading to a change in the priorities of the actions of financial institutions; mainly banks, and the supply of money based on fixed parities (gold, energy).
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Identification and Monitoring of Instability in Financial Systems

100%
Włodarczyk B., Szturo M.
Olsztyn Economic Journal
|
2016
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vol. 11
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issue 2
177-188
EN
Financial instability is often the result of a positive feedback loop, which is an inseparable element of the functioning of the financial system. The task dealing with identification, modeling and analyzing the causes and effects of such feedback loops requires assuming a systems’ engineering perspective, which is rarely taken into consideration when designing remedial solutions. The aim of the study was to evaluate how it ispossible to identify and monitor the susceptibility of a financial system to potential threats. The popular method of data modeling known as signed directed graphs (SDG) was used. The method is able to pick up information which is not taken into account by a traditional network model of the financial system. It provides essential information about the direction of impact and control between the nodes. Thanks to this technique, it is possible to analyze the potential instability spots of the system.
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