Search results

1

Efficiency of the banking sector in Poland compared to other countries in the region

100%

Filipek A., Spirzewski K.

Journal of Banking and Financial Economics

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2023

|

issue 1(19)

57-84

EN

The banking system is one of the most important components of the financial systems on which modern economies are largely based. The occurrence of instability in this area may lead to serious economic problems. Therefore, the interest of researchers in this area has been focused mainly on assessing the effectiveness and efficiency of the banking sector, which will allow for identifying possible areas for improvement. In this paper, we discuss the use of efficiency as one of the basic measures used to assess the functioning of the banking sector. The aim of this study is to examine the efficiency of the banking sector in Poland, and then to compare the obtained results with selected countries of the region in 2014–2018. The paper presents theoretical considerations in the field of the financial system, the banking system and the efficiency of entities. In the empirical part of the paper, we conducted our own research on the efficiency of the banking sector in Poland using the DEA (Data Envelopment Analysis) method. The results were compared with those obtained in selected countries in the region. The selected countries of the region are: Bulgaria, the Czech Republic, Estonia, Croatia, Hungary, Lithuania, Latvia, Romania and Slovakia.

2

Representing Development Costs of Application Software in Financial Statements: a Study on How Bulgarian Accounting Culture Needs to Be Changed

100%

Grozeva N.

Politeja : Pismo Wydziału Studiów Miedzynarodowych i Politycznych Uniwersytetu Jagiellońskiego

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2012

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issue 2.3(20.3)

115-123

EN

The author emphasizes the specific features of globalization processes described by terms like: information technology, transformations of material culture, national economy and circulation of increasingly less tangible financial capital. The virtual world with sophisticated tools and well-trained specialists offers a broad selection of opportunities to make the economy stronger. However, not every actor (state) has tools to participate in this global competition. This article examines how national economies, including Bulgaria, try to become a full right member (participant) in the global “game.”

3

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.

4

Europejska Rada ds. Ryzyka Systemowego jako nowy organ polityki regulacyjnej

100%

Kraś I.

Przegląd Europejski

|

2017

|

vol. 2017 (44)(2)

62-81

PL

The article deals with the European Systemic Risk Board as a new institution of regulatory policy of the European Union. The aim of this work is to analyse using the tools and methods used to realize this policy. The European Systemic Risk Board makes up a macro-prudential pillar in supervising the financial system of the European Union. In this research paper, the most important tools for realization of regulatory policy are shown. There are warnings, confidential warnings and recommendations. Next, the author raises the question of the influence of credibility and responsibility of the Board for realization of regulatory policy. In the last part of the article, the evaluation of the realization of the regulatory policy is discussed and some changes are suggested. In the conclusion, the author shows arguments for and against this hypothesis. Artykuł poświęcony jest Europejskiej Radzie ds. Ryzyka Systemowego (ERRS) jako nowej instytucji polityki regulacyjnej Unii Europejskiej. Celem opracowania jest analiza wykorzystania narzędzi, jakimi dysponuje ta instytucja, do realizacji wspomnianej polityki. ERRS stanowi filar działań makroostrożnościowych w nadzorze nad systemem finansowym UE. W opracowaniu zostały przedstawione podstawowe narzędzia, jakimi dysponuje ERRS w realizacji polityki regulacyjnej, czyli zalecenia, ostrzeżenia oraz ostrzeżenia poufne. Następnie autor porusza kwestie wpływu wiarygodności i odpowiedzialności ERRS na realizację polityki regulacyjnej. W końcowej części artykułu dokonuje oceny realizacji polityki regulacyjnej oraz proponuje zmiany. W zakończeniu autor przedstawia argumenty pozytywnie weryfikujące przedstawioną hipotezę oraz ją osłabiające.

5

Rozwój systemu finansowego w Polsce a dostępność kapitału na innowacje

100%

Pełka W.

Gospodarka Narodowa. The Polish Journal of Economics

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2007

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vol. 220

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issue 11-12

17-34

EN

The study sets out to identify barriers to the financing of innovation resulting from the country’s overall level of development and the structure of Poland’s financial system. The author recommends action to remedy the system’s inefficiency in the area of financing business innovations. The article describes the theoretical aspects of innovation financing and its characteristic features in Poland on the basis of an analysis of the size, structure and changes of the overall system. On the basis of her analysis, Pełka concludes that financial barriers to the spread of innovation can only be eliminated by developing a market for “instruments typical of a knowledge-based economy.” Domestic savings need to be mobilized for the development of innovative businesses with the involvement of the public sector. It is also necessary to create a system of tax incentives and specialized capital market institutions, Pełka says, and some projects must be co-financed from public funds. Poland’s financial system should evolve toward a model based on capital market institutions, with an increased share of private capital in the process of financing business innovation, Pełka concludes.

6

Poland and the European Banking Union: to join or to wait?

100%

Budkowska M.

Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace

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2019

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issue 1 (37)

99-109

EN

The aim of the article is to analyze the opportunities and risks for Poland related to the banking union. Opting in would allow Poland to strengthen integration with the European Union. Its participation in the SSM as a host country could translate into enhancing the positive image of the Polish banking market for foreign investors. Considered as a response to the global financial crisis and a mechanism to tighten the integration of the euro area, the banking union is still an incomplete project that does not include all EU Member States. Its third pillar, i.e. the Single Deposit Guarantee Scheme (SDGS), is yet to start operating. Therefore, in the case of Poland, the so-called close cooperation should be preceded bya balance of benefits and costs.

7

Fair Value in Financial Statements of Bulgarian Enterprises

100%

Moneva I. B.

Politeja : Pismo Wydziału Studiów Miedzynarodowych i Politycznych Uniwersytetu Jagiellońskiego

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2012

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issue 2.3(20.3)

109-114

EN

The author undertakes an important issue relating to axiology of activities (individual and collective) incorporated in the Bulgarian financial and economic practice. Moneva points to phenomena which favour corruption and reinforce patterns of illegal conduct and practices distant from what has been recognized in liberal democracies of the West as correct and recommended. Lack of clarity and transparency of power, lack of public oversight over state institutions support persistence of pathological and destructive practices. The article constitutes an important voice in defence of democratic values.

8

Development of financial systems in 1995-2014 – a factor analysis

100%

Iwanicz-Drozdowska M., Smaga P.

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

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2017

|

issue 482

47-60

EN

The aim of the research was to analyse financial system development patterns for both 19 post-communist European economies and 21 non-post-communist (advanced) countries over the 1995-2014 period. The use of a factor analysis allowed for identifying two unobservable factors which account for most of the variance of the 9 observed variables characteristic of the economic and financial development, the banking sector’s standing and the structure of the financial sector. Identified factors represent the financial system development and growth of the banking sector, but their roles differ among the analysed groups of countries. The banking sector is a significant driving force of development in both cases. Yet, in advanced economies, a certain role is also played by the stock market, which is not the case for post-communist countries. The results show that there is higher homogeneity in the financial system development patterns in post-communist countries, while the roles of both factors are more heterogeneous among advanced economies. Lastly, the results provide evidence that the global financial crisis did not cause a permanent structural change in these two processes.

9

Legal Effects of Unenforceability or Invalidity of an Agreement for a Denominated in or Indexed to a Foreign Currency Mortgage Loan in The Light of Judicial Decisions

100%

Mroczkowski R.

Financial Law Review

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2021

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vol. 24

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issue 4

1-23

EN

An introduction of mortgage currency loans to the banks offers, particularly the indexed to a foreign currency and denominated in a foreign currency loans, based on agreements containing abusive clauses which lead, in the consumer/borrower's individual relations, to the violation of his legal and economic interest and on the financial system level to the creation the risk of its instability (systemic risk). In many European countries, in Hungary for instance, the problem was solved ex post on the statutory level by the legislator’s interference. In others, for example in Romania, such statutory solutions were contested by the constitutional courts. In the remaining ones, such as Poland, Spain or Austria, the problem was left to be solved within the individual cases by the civil or arbitration courts. The latter solution requires however the development of lines of jurisprudence solving the contentious legal issues resulting from the complicated legal relations that occurred between the banks and the consumers/borrowers. Given the above, the author undertook to analyse the judicial decisions of the European Court of Justice, Polish common courts and the Supreme Court in order to indicate these nodal issues which often evoke the discrepancies in jurisprudence, as well as to present the possible solutions. The importance of the issue is crucial not only to the economic condition of the households and financial results of particular banks, but also to the stability of the whole financial sector. The implementation of the research goal adopted in this article requires the application of legal research methods, such as in particular the general theoretical method and the formal-dogmatic method.

10

In search of financial stability - the case of shadow banking

100%

Lucius O.

Managerial Economics

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2014

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vol. 15

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issue 1

63-81

EN

Financial stability seems to be an important buzzword these days. This paper discusses the threats to financial stability that might arise from shadow banking. In order to properly discuss the problems, shadow banking is defined. Then, which measures to take to remedy this situation will be discussed.

11

Rozwój sektora finansowego a wzrost gospodarczy na przykładzie Indii

88%

Ostrowska M., Lach M., Wójcicka K.

Ekonomia - Uniwersytet Ekonomiczny we Wroclawiu

|

2013

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issue 3 (24)

44-62

EN

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.

12

Perspektywa systemu finansowania nieruchomości mieszkaniowych w Polsce

88%

Główka G.

Świat Nieruchomości

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2012

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issue 2(80)

50-55

EN

Due to its strong link with the financial sector, the development of housing market is greatly impacted by the financial system. Even though the mechanisms and methods of financing this market evolve constantly, the basic instruments still remain bank products, especially mortgage loans. For this reason, alongside several macroeconomic conditions, such as housing needs of the society, the level of investment and savings as well as the labour market and economic conditions, an adequate supply of and access to mortgage loans, is prerequisite for the development of the housing market. The purpose of this article is therefore to assess the financial system linked to the residential real estate market in Poland as well as identify trends and determine where changes ought to be made.

13

The nexus between the financial system and economic growth: GMM estimation with panel data

88%

Gemen S.

Zeszyty Studenckie Wydziału Ekonomicznego „Nasze Studia”

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2017

|

issue 8

200-208

EN

This paper investigates the relationship between the financial system and economic growth. Understanding this nexus is important in order to draft and implement policy measures that safeguard economic welfare based on sound financial markets. In spite of the growing number of scholars who research in this area, there is a substantial amount of unanswered questions and a lively debate with contrasting views on basic processes. The main research question that will be answered in this paper is: What is the relationship between the financial system and economic growth? This question also answers which variables of the financial system have an impact on the real economy, which variables are most relevant contributors to economic growth and if differences between different groups of countries can be identified. The analysis is executed using the Arellano‐ Bond generalized method of moments (GMM) estimator based on panel data. The dataset consists of macroeconomic control variables and financial stock market and banking system variables from 74 countries over the time period 1988–2014. The results vary substantially between the panels under analysis. At the same time it can be said, that market capitalisation is the strongest predictor of economic growth. The analysis further shows that the banking system variables are largely negatively correlated with economic growth.

PL

W artykule badana jest relacja zachodząca między systemem finansowym a wzrostem gospodarczym. Zrozumienie tej relacji jest bardzo ważne przy opracowywaniu i wdrażaniu programów politycznych, mających na celu rozwój ekonomiczny oparty na solidnej bazie rynków finansowych. Mimo coraz większej liczby naukowców, którzy badają tę dziedzinę, znaczna ilość pytań pozostaje bez odpowiedzi, a ożywiona debata uwypukla przeciwstawne poglądy na temat podstawowych procesów. Główne pytanie badawcze brzmi: Jaki związek występuje pomiędzy systemem finansowym a wzrostem gospodarczym? To pytanie pozwala udzielić odpowiedzi także na to, jakie zmienne systemu finansowego wpływają na realną gospodarkę, które zmienne uchodzą za najistotniejsze czynniki wzrostu gospodarczego, oraz czy można zidentyfikować różnice pomiędzy różnymi grupami krajów. Analiza została przeprowadzona za pomocą uogólnionej metody momentów (GMM) Arellano‐Bonda na podstawie danych panelowych. Zestaw danych składa się ze zmiennych kontrolnych gospodarki oraz ze zmiennych finansowych z 76 krajów w okresie 1988–2014 r. Wyniki analizy różnią się znacznie pomiędzy panelami. Jednocześnie można stwierdzić, że kapitalizacja giełdowa jest najsilniejszym czynnikiem wzrostu gospodarczego. Analiza pokazuje ponadto, że zmienne systemu bankowego są negatywnie skorelowane ze wzrostem gospodarczym.

14

Macroprudential Banking Regulation: Does One Size Fit All?

88%

Neuberger D., Rissi R.

Journal of Banking and Financial Economics

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2014

|

issue 1(1)

5-28

EN

The macroprudential regulatory framework of Basel III imposes the same minimum capital and liquidity requirements on all banks around the world to ensure global competitiveness of banks. Using an agent-based model of the financial system, we find that this is not a robust framework to achieve (inter)national financial stability, because efficient regulation has to embrace the economic structure and behaviour of financial market participants, which differ from country to country. Market-based financial systems do not profit from capital and liquidity regulations, but from a ban on proprietary trading (Volcker rule). In homogeneous or bank-based financial systems, the most effective regulatory policy to ensure financial stability depends on the stability measure used. Irrespective of financial system architecture, direct restrictions of banks’ investment portfolios are more effective than indirect restrictions through capital, leverage and liquidity regulations. Applying the model to the Swiss financial system, we find that increasing regulatory complexity excessively has destabilizing effects.These results highlight for the first time a necessary change in the regulatory paradigm to ensure the effectiveness and efficiency of financial regulations with regards to fostering the resilience of the financial system.

15

New Trends In Islamic Finance During The Transformation Of The World Economy

88%

Mazurenko V., Vorobiova A.

MIND Journal

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2020

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issue 10

1-11

EN

The article highlights the essential characteristics of the Islamic financial system, its main components and dimensions; identifies the latest trends in the development of Islamic finance in the transformation of the world economy. The peculiarities of the transformation of Islamic finances themselves are revealed. Changes in the distribution of participants in the financial market after Brexit and the impact of the effects of the COVID-19 pandemic on the viability of Islamic finance are outlined. The prospects of their implementation in Great Britain and "strategic centers – colonies" are proved. The preconditions for the formation of an alternative approach to solving the problems of the financial sphere in modern conditions are determined.

16

Stabilność systemu finansowego Unii Europejskiej

88%

Mikita M.

Studia BAS

|

2021

|

issue 3(67)

87-116

EN

The aim of the article is to present activities undertaken at the EU level to ensure financial stability, and to assess the degree of stability of the EU financial system on the basis of selected indicators. The first part of the article introduces the concept of financial system stability and describes its importance in the modern economy and the methods of estimating the stability of the financial system. The second part of the article is devoted to the presentation of activities undertaken by the EU to increase the stability of the financial system, and the assessment of financial stability on the basis of two indicators: the Z-score indicator, used to assess the stability of the banking system, and the Stock Price Volatility index, showing the stability of the capital market.

17

Rola edukacji ekonomicznej w kształtowaniu stabilności systemu finansowego

87%

Ratowska-Dziobiak E.

Finanse i Prawo Finansowe

|

2021

|

vol. 3

|

issue 31

119-132

EN

An efficiently operating financial system is considered as an integral part of a well-functioning economy. It is the mechanism by which services are provided that allow the flow of purchasing power. Thus, this system creates the foundations of activity for entities using money, enabling the conclusion of economic transactions in which money performs various functions. The result of the existence of this system is the possibility of co-creation of money by non-financial economic entities (enterprises and households) and the flow of cash between them. In the light of many transformations taking place in the financial system, it is extremely important to ensure its stability. A properly functioning financial system significantly supports the achievement of the main goals of the central bank – maintaining a stable level of prices, and thus creating the basis for achieving long-term economic growth. Educational activities are of great importance in ensuring the stability of the financial system. The aim of the article is to present the role of economic education among young people, thanks to which they can better understand the complexities of the functioning of the financial system, the importance of its stability and prepare to make more conscious decisions as fully-fledged participants of the financial market. Understanding the specificity of the available financial instruments enables the minimalization of the risk associated with their selection / purchase. The accuracy of decisions made in adulthood depends on the knowledge of basic economic issues and the awareness of potential threats.

18

Uprawnienia i obowiązki Komitetu Stabilności Finansowej w zakresie nadzoru makroostrożnościowego nad systemem finansowym w Polsce

75%

Kowalczyk K.

Przegląd Ustawodawstwa Gospodarczego

|

2019

|

issue 5

15-19

EN

The Financial Stability Committee ensures protection of the financial system stability in Poland. The article discusses the competences of the Financial Stability Committee in the area of macroprudential supervision and systemic risk. In addition, the rights and obligations arising from its organization and operating mode. The author presented de lege lata comments and de lege ferenda postulates. The subject of the work is undoubtedly timely and important because the financial systems, which are the dominant element of most economies, are characterized by high susceptibility to disturbances of stability.

PL

Komitet Stabilności Finansowej zapewnia ochronę stabilności systemu finansowego w Polsce. W artykule zostały omówione kompetencje Komitetu Stabilności Finansowej w zakresie nadzoru makroostrożnościowego oraz ryzyka systemowego. Ponadto uprawnienia i obowiązki wynikające z jego organizacji i trybu pracy. Autor przedstawił uwagi de lege lata oraz postulaty de lege ferenda. Temat pracy jest niewątpliwie aktualny i ważny, gdyż systemy finansowe, które są dominującym elementem większości gospodarek, cechują się dużą podatnością na zakłócenia stabilności.

19

Gospodarka i teoria ekonomiczna po kryzysie

75%

Jasiński L.

Studia Ekonomiczne (Economic Studies)

|

2009

|

issue 3-4(62-63)

271-277

EN

The main causes of the financial crisis in the world economy and their impact on the Polish economy were presented. It was analyzed what can become the long-term consequence of this crisis and what the economic theory suggests as an explanation of this development. The financial crisis of 2007–2009 was compared with the Great Depression of 1929–1933.

20

Ewolucja pozycji Narodowego Banku Polskiego w polityce makroostrożnościowej

75%

Kraś I.

Seminare. Poszukiwania naukowe

|

2017

|

vol. 38

|

issue 2

127-137

PL

Artykuł poświęcony jest pozycji Narodowego Banku Polskiego w nadzorze makroostrożnościowym. Pierwotnie za nadzór makroostrożnościowy w Polsce miała odpowiadać Rada Ryzyka Systemowego, w której próbowano zagwarantować wiodącą rolę NBP z różnym nasileniem. Ostatecznie za realizację nadzoru makroostrożnościowego i zarządzanie kryzysowe odpowiada Komitet Stabilności Finansowej. Takie rozwiązanie osłabia wiodącą rolę NBP w nadzorze makroostrożnościowym.

EN

The aim of the article is to focus on the position of the National Bank of Poland in the macroprudential oversight. In the beginning, macro-prudential oversight in Poland rested with the European Systematic Risk Board, in which the leading role was to be guaranteed for the National Bank of Poland with varying intensity. Eventually, the responsibility for macro-prudential oversight and crisis management falls on the Committee of Financial Stability. This solution weakens the role of the National Bank of Poland in the macro-prudential oversight.

Refine search results

Efficiency of the banking sector in Poland compared to other countries in the region

Representing Development Costs of Application Software in Financial Statements: a Study on How Bulgarian Accounting Culture Needs to Be Changed

Identification and Monitoring of Instability in Financial Systems

Europejska Rada ds. Ryzyka Systemowego jako nowy organ polityki regulacyjnej

Rozwój systemu finansowego w Polsce a dostępność kapitału na innowacje

Poland and the European Banking Union: to join or to wait?

Fair Value in Financial Statements of Bulgarian Enterprises

Development of financial systems in 1995-2014 – a factor analysis

Legal Effects of Unenforceability or Invalidity of an Agreement for a Denominated in or Indexed to a Foreign Currency Mortgage Loan in The Light of Judicial Decisions

In search of financial stability - the case of shadow banking

Rozwój sektora finansowego a wzrost gospodarczy na przykładzie Indii

Perspektywa systemu finansowania nieruchomości mieszkaniowych w Polsce

The nexus between the financial system and economic growth: GMM estimation with panel data

Macroprudential Banking Regulation: Does One Size Fit All?

New Trends In Islamic Finance During The Transformation Of The World Economy

Stabilność systemu finansowego Unii Europejskiej

Rola edukacji ekonomicznej w kształtowaniu stabilności systemu finansowego

Uprawnienia i obowiązki Komitetu Stabilności Finansowej w zakresie nadzoru makroostrożnościowego nad systemem finansowym w Polsce

Gospodarka i teoria ekonomiczna po kryzysie

Ewolucja pozycji Narodowego Banku Polskiego w polityce makroostrożnościowej