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Tytuł:
Index Providers in the Global Financial Market
Dostawcy indeksów na globalnym rynku finansowym
Autorzy:
Miziołek, Tomasz
Powiązania:
https://bibliotekanauki.pl/articles/660117.pdf
Data publikacji:
2018
Wydawca:
Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:
indeksy finansowe
dostawcy indeksów
międzynarodowy rynek finansowy
financial indexes
index providers
international financial market
Opis:
Dostawcy indeksów są istotnymi uczestnikami współczesnego globalnego rynku finansowego. Grupa ta obejmuje zróżnicowane podmioty – m.in. giełdy papierów wartościowych, instytucje finansowe (zwłaszcza banki i firmy zarządzające aktywami), firmy analityczne i badawcze oraz dostawców danych finansowych. Rola dostawców indeksów zwiększa się wraz z systematycznie rosnącym znaczeniem indeksowych instrumentów inwestycyjnych. Ich decyzje mają znaczący wpływ na alokację kapitału głównie w skali mikroekonomicznej i makroekonomicznej.
Index providers are important participants of the contemporary global financial market. This group comprises of diverse entities – e.g. stock exchanges, financial institutions (particularly banks and asset management companies), analytical and research companies as well as financial data providers. The role of index providers increases primarily along with systematically growing importance of index investment instruments. Their decisions significantly affect the allocation of capital, mainly on a microeconomic and macroeconomic scale.
Źródło:
Acta Universitatis Lodziensis. Folia Oeconomica; 2018, 3, 335; 139-152
0208-6018
2353-7663
Pojawia się w:
Acta Universitatis Lodziensis. Folia Oeconomica
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Fundusze majątku państwowego na globalnym rynku finansowym
Sovereign-Wealth Funds in the global financial market
Autorzy:
Szukalski, Stanisław M.
Powiązania:
https://bibliotekanauki.pl/articles/465240.pdf
Data publikacji:
2014
Wydawca:
Polska Akademia Nauk. Komitet Prognoz Polska 2000 Plus PAN
Tematy:
fundusze majątku państwowego
globalny rynek finansowy
sovereign-wealth funds
global financial market
Opis:
Ekspansywny rozwój funduszy majątku państwowego po 1999 roku oraz dyskusja jaka wokół nich rozwinęła się w okresie kryzysu finansowego 2007-2008 roku skłania do postawienia szeregu pytań o istotę funduszy, ich genezę, zmiany struktury, politykę inwestycyjną, tym bardziej, iż większość z nich pochodzi z krajów wschodzących, mających nadwyżki w bilansie obrotów bieżących oraz z krajów- eksporterów surowców. Każe to postawić pytanie o ich wpływ na światowe rynki finansowe, o relacje pomiędzy krajami-globalnymi dłużnikami i wierzycielami. W opracowaniu poruszono następujące kwestie: istota funduszy, kierunki inwestycji, rolę funduszy w okresie kryzysu finansowego 2007-2008 oraz zagrożeń wynikających z działania SWF na globalnym rynku finansowym.
Expansive development of Sovereign-Wealth Funds after 1999 as well as the debate around it, which rose in the time of financial crisis 2007-2008 encourages to ask questions concerning the substance of funds, their origin, structure changes, investment policy. Most of such funds come from rising economies that have surplus in the current account balance and from countries exporting natural resources. That should make us ask what is their influence on global financial markets, their relations between countries – global debtors and creditors. The author rises such issues in the article: substance of funds, directions of investments, the role of funds in the time of financial crisis 2007-2008 and dangers that come from Sovereign-Wealth Funds functioning on global financial market.
Źródło:
Przyszłość. Świat-Europa-Polska; 2014, 2; 110-131
1895-0949
Pojawia się w:
Przyszłość. Świat-Europa-Polska
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Private banking jako usługa inwestycyjna instytucji finansowych na globalnym rynku finansowym
Private banking as the investment activity of the banks on the global financial market
Autorzy:
Puszer, Blandyna
Powiązania:
https://bibliotekanauki.pl/articles/588179.pdf
Data publikacji:
2015
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
HNWI
Private banking
Produkty i usługi private banking
Alternative investments
Financial investments
Opis:
Banki w ramach prowadzonej działalności mogą wykonywać czynności z zakresu działalności inwestycyjnej, co oznacza działalność banków na rynku finansowym polegającą na świadczeniu usług pośrednictwa finansowego poprzez alokację kapitału z wykorzystaniem dostępnych technik, metod oraz instrumentów. Działalność banku może zostać ograniczona tylko do niektórych czynności inwestycyjnych wykonywanych na rzecz podmiotów niefinansowych, w tym klientów zamożnych. Proces świadczenia usług przez banki w segmencie zamożnych klientów jest określany jako private banking. Celem artykułu jest analiza aktualnych wyzwań oraz trendów charakteryzujących private banking na świecie, a także prezentacja możliwych kierunków rozwoju oraz zmian, w obliczu których w najbliższej przyszłości mogą stanąć zarówno osoby zamożne, jak i banki zajmujące się ich obsługą. Wśród głównych priorytetów banków w obsłudze klientów zamożnych powinny się znaleźć między innymi działania związane z dywersyfikacją oferty, edukacja i budowanie długoterminowych relacji z pokolenia na pokolenie oraz wykorzystanie nowoczesnych kanałów komunikacji, np. mediów społecznościowych.
Banks as part of conducted activity can conduct activities from the scope of the investment activity. The investment activity of the bank can be limited only to some duties performed for clients, in it of wealthy clients. The process of the service delivery in the HNWI determined by banks is private banking. The main aim of the article is an analysis of apt challenges and the trends of private banking in the world, as well as presentation of possible directions of the development and changes, in the face of which in the immediate future can stand up both wealthy clients, as well as banks dealing with their service. Amongst major priorities of banks in the service wealthy clients action associated with the diversification of the services, the education of the clientele and focusing on long-term relationships (generation after generation) and interaction on social media should be number one priorities for private banking.
Źródło:
Studia Ekonomiczne; 2015, 246; 80-98
2083-8611
Pojawia się w:
Studia Ekonomiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Zarządzanie jakością usług w polskich bankach w świetle wymagań globalnego rynku finansowego
Quality Management of Services in Polish Banks in the Light of Global Financial Market Need
Autorzy:
Garczarczyk, Józef
Skikiewicz, Robert
Powiązania:
https://bibliotekanauki.pl/articles/905717.pdf
Data publikacji:
2004
Wydawca:
Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Opis:
Processes of globalization are completely reflected in the world financial market. Mergers and alliances of financial institutions are the indications of these processes. Among others, the world financial corporations define standards in range of serving a customer and a level of provided services. Hence question comes to mind: how Polish banks are prepared and how they do realize systems of quality management? This paper aim is to answer the above question. The basis is the outcome of Polish-wide research, in which 295 managers of banks took participation. This research showed, that realization phase of system of quality management was evaluated better than phase of its preparation. It is possible to ascertain simultaneously, that Polish banks are not fully prepared for coping with demands of global financial market.
Źródło:
Acta Universitatis Lodziensis. Folia Oeconomica; 2004, 179/1
0208-6018
2353-7663
Pojawia się w:
Acta Universitatis Lodziensis. Folia Oeconomica
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The global development of cryptocurrencies
Globalny rozwój kryptowalut
Autorzy:
Miciuła, Ireneusz
Kazojć, Katarzyna
Powiązania:
https://bibliotekanauki.pl/articles/581898.pdf
Data publikacji:
2019
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
cryptocurrencies
financial innovations
global financial market
legal regulations of the market
technological and financial changes (FinTech)
kryptowaluty
innowacje finansowe
globalny rynek finansowy
regulacje prawne rynku
zmiany technologiczno-finansowe (FinTech)
Opis:
The global crypto marketplace has an impact on the functioning of financial markets and has huge implications for entire economies. The article discusses the functioning of the global cryptocurrency market, and based on the analysis of the history of the most popular cryptocurrency, bitcoin, an attempt was made to determine possible development prospects. The aim of the article is to assess the development of the current crypto marketplace in the world and to present possible development prospects. The foresight method was used to implement the research objective, in particular trend analysis (quantitative data) and discrete event system (qualitative and expert data). This allows us to learn about the regularity of the cryptocurrencies in the sphere of investment management from the investors' point of view and the creation of an appropriate legal framework by the supervisory authorities and ensuring the social security of the financial system.
Światowy rynek kryptowalut ma wpływ na funkcjonowanie rynków finansowych i powoduje ogromne implikacje dla całych gospodarek. W artykule omawiono funkcjonowanie globalnego rynku kryptowalut, a na podstawie analizy historii najpopularniejszej kryptowaluty – bitcoina, podjęto się próby ustalenia możliwych perspektyw rozwoju. Celem opracowania jest ocena rozwoju obecnego rynku kryptowalut na świecie oraz przedstawienie możliwych perspektyw rozwoju. Aby osiągnąć cel badawczy pracy, wykorzystano metodę foresightu, a szczególnie analizę trendów (dane ilościowe) oraz system zdarzeń dyskretnych (dane jakościowe i eksperckie). Pozwala to na poznanie prawidłowości na rynku kryptowalut w sferze zarządzania inwestycjami z punktu widzenia inwestorów oraz tworzenia odpowiednich ram prawnych przez organy nadzorujące i zapewniające bezpieczeństwo społecznego systemu finansowego.
Źródło:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2019, 63, 2; 183-196
1899-3192
Pojawia się w:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Examination of the commodity products available in the global financial markets using their market concentration levels
Autorzy:
Valluri, Subhakara
Powiązania:
https://bibliotekanauki.pl/articles/692609.pdf
Data publikacji:
2020
Wydawca:
Uniwersytet Ekonomiczny w Poznaniu
Tematy:
commodity exchanges
market concentration
commodty products
Opis:
The primary objective of this study is to find the disparities in the commodity product offerings in various financial markets across the world along with their market concentration levels. Identifying the product gaps in commodity-based financial products offered by the worldwide financial exchanges can assist the decision makers to fill the existing gaps strategically and attain the worldwide competitive market of commodity exchanges for all nations. The Hirschman-Herfindahl Index, HHI, is used to measure market concentration grouped by geographical regions or exchanges. The disparity analysis until 2016 indicates a disparity between commodity products traded in several exchanges across different geographical regions. Asia covers the largest regions of the world and showcasing 26 commodity exchanges located in different countries with 2689 types of commodity products traded among these exchanges. North America’s 18 commodity exchanges show 8157 product types. Europe has 8 exchanges located in different countries with 1712 product types registered across these exchanges. Our analysis on market volume concentration for regions indicates that for the period 2012-2016, contract volume growth has increased. and reflects a high concentration of volume among all the regions. Our analysis of market volume concentration for exchanges indicates a moderate level of market concentration for 2012-2016.
Źródło:
Research Papers in Economics and Finance; 2020, 4, 2; 53-63
2543-6430
Pojawia się w:
Research Papers in Economics and Finance
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Dysfunkcje globalnego rynku finansowego i możliwości ich przezwyciężenia
The Dysfunctions of Global Financial Markets and how to Surmount Them
Autorzy:
Peszko, Adam
Powiązania:
https://bibliotekanauki.pl/articles/596851.pdf
Data publikacji:
2018
Wydawca:
Łódzkie Towarzystwo Naukowe
Tematy:
financial markets, hypothesis of an effective market, the informational efficiency of the financial market, progressive global tax from capital
rynki finansowe; hipoteza rynku efektywnego; efektywność informacyjna ryn¬ku finansowego; globalny progresywny podatek od kapitału
Opis:
The possibilities of introducing new institutions to help overcome the current dysfunctions of the global financial market are analysed in the article. First of all, the monitoring and regulation institutions proposed by, George A. Akerloff, Paul Krugman, Joseph E. Stiglitz, Nouriel Roubini and Robert J. Shiller were discussed. In turn, the new concept of a progressive global tax on capital by Thomas Piketty is presented. The concept proposed by Piketty is the most radical one, and it should be associated with the greatest hopes. However, implementing it on a global scale seems to be extraordinary difficult due to the lack of uniform political will to introduce an automatic, global exchange of information between banks.
W artykule przedstawiono analizę możliwości wprowadzenia nowych instytucji warunkujących przezwyciężenie obecnych dysfunkcji globalnego rynku finansowego. Na początku omówiono instytucje monitorujące i regulujące zaproponowane przez amerykańskich laureatów Nagrody Nobla. W drugiej kolejności przedstawiono nową koncepcję globalnego progresywnego podatku od kapitału Thomasa Piketty. Koncepcja, zaproponowana przez francuskiego ekonomistę, jest najbardziej radykalna i z nią powinny być wiązane największe nadzieje. Jednak wdrożenie jej na skalę globalną wydaje się wyjątkowo trudne ze względu na brak jednolitej woli politycznej wprowadzenia w skali globalnej bezwarunkowej, automatycznej wymiany informacji międzybankowej.
Źródło:
Studia Prawno-Ekonomiczne; 2018, 109; 257-274
0081-6841
Pojawia się w:
Studia Prawno-Ekonomiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
ADAPTATIONS WITHIN THE FINANCIAL MARKET IN CHINA AFTER GLOBAL FINANCIAL CRISIS
Autorzy:
Glinka, Katarzyna
Powiązania:
https://bibliotekanauki.pl/articles/488945.pdf
Data publikacji:
2016
Wydawca:
Instytut Badań Gospodarczych
Tematy:
financial crisis
financial markets
currency internationalisation
Opis:
The purpose of this paper is to present the evolutionary changes occurring in the financial market of China, which were catalysed by the turmoil in the global financial market. These changes were the outcome of anti-crisis measures in macroeconomics policy undertaken at the beginning of the crisis; they were also a response to the quantitative easing policy in the USA and in the Euro Zone (i.e. an increased money supply also reaching the financial market in China). With the currently binding system of currency exchange (managed floating exchange rate), China’s policy towards capital movement, on the one hand, is an attempt to maximise the benefits of the inflow of foreign capital , whilst, on the other – to minimise the risk related to the sudden changes in the direction of the flow of capital. The consequence of such an approach is the strategy of gradual liberalisation of capital account, accompanied by the significant involvement of the state in the financial market. Some specific solutions applied to this matter, that are discussed in the paper, point to the specifics of such a strategy. The liberalisation of the national capital market was preceded by the liberalisation of the offshore market (in Hong Kong). Such a strategy allows China to take up measures directed at the internationalisation of their own currency without any significant opening of the capital account. This paper concentrates on a descriptive analysis of the above phenomenon.
Źródło:
Oeconomia Copernicana; 2016, 7, 4; 565-591
2083-1277
Pojawia się w:
Oeconomia Copernicana
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Elementy globalnej architektury finansowej
Elements of Global Financial Architecture
Autorzy:
Kłosiński, Kazimierz A.
Powiązania:
https://bibliotekanauki.pl/articles/30145345.pdf
Data publikacji:
2013
Wydawca:
Katolicki Uniwersytet Lubelski Jana Pawła II. Towarzystwo Naukowe KUL
Tematy:
usługi finansowe
międzynarodowy (światowy) rynek usług finansowych
polityka pieniężna
Międzynarodowy Fundusz Walutowy
Organizacja Współpracy Gospodarczej i Rozwoju
Światowa Organizacja Handlu
Komitet Nadzoru Bankowego w Bazylei
Forum Stabilności Finansowej
Rada Stabilności Finansowej
Papieska Rada „Sprawiedliwość i Pokój”
financial services
international (global) market of financial services
monetary politics
International Monetary Fund
Organization of Economic Cooperation and Development
World Trade Organization
Basel Committee on Banking Supervision
Financial Stability Forum
Financial Stability Board
Papal Advice „the Justice and Peace”
Opis:
The deliberations in this article are an attempt to comprehend the existing state and the process of coming into existence of the most important structural elements of contemporary financial architecture on the global scale.
Źródło:
Roczniki Ekonomii i Zarządzania; 2013, 5; 35-55
2081-1837
2544-5197
Pojawia się w:
Roczniki Ekonomii i Zarządzania
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Security management of systemically important banking institutions inside the European Union financial market
Autorzy:
Pyka, Irena
Pyka, Jan
Powiązania:
https://bibliotekanauki.pl/articles/325162.pdf
Data publikacji:
2019
Wydawca:
Politechnika Śląska. Wydawnictwo Politechniki Śląskiej
Tematy:
banki globalne
instytucje finansowe o znaczeniu systemowym
ryzyko systemowe
unia bankowa
mechanizm jednolitego nadzoru
SSM
europejski system postępowania naprawczego
SRM
MREL
TLAC
global banks
systemically important financial institutions
systemic risk
banking union
Single Supervision Mechanism
European resolution regime
Opis:
This paper is focused on the problems related to activities of systemically important banking institutions. After the global financial crisis, these institutions were held responsible for the escalation of systemic risk in the international economy. The paper analyses how both the supervision and the regulatory tools that are used in European Union countries to deal with formally identified systemically important institutions have changed. The direct goal of the paper is to identify the specific features of the new regulatory order with regard to global and other systemically important institutions that operate in the European Union. The results of the analysis indicate that the extension of the extent of supervision over activities undertaken by these institutions and the introduction of new prudential regulations, including resolution regimes, do not guarantee the security and the stability of European Union’s financial market. Keywords: global banks, systemically important financial institutions, systemic risk, banking union, Single Supervision Mechanism (SSM), European resolution regime – SRM, MREL, TLAC
Źródło:
Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2019, 136; 495-510
1641-3466
Pojawia się w:
Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Poland’s financial sector development in terms of global financial transformations
Autorzy:
Marena, Tetyana
Powiązania:
https://bibliotekanauki.pl/articles/1013714.pdf
Data publikacji:
2020-12-30
Wydawca:
Uniwersytet Ekonomiczny w Poznaniu
Tematy:
global financial transformations
financial sector
financial market
international reserves
Polska
Opis:
The paper deals with the study of global financial transformations impact on the financial sector in Poland. Two types of tendencies of the global financial space development that create new conditions for national financial systems are defined,including: trends that lead to qualitative shifts in countries’ financial systems and do not necessarily imply a negative impact on the national financial systems; threatening challenges that shatter financial markets and restrain their sustainable development. The current positions of Poland’s financial sector in the world and regional financial systems are evaluated. The shifts in the national financial sector in terms of global financial transformations are found out. It is stated that while integrating into the global financial space, Poland will increasingly feel the impact of global transformations that will determine further scenarios for the domestic financial sector development. Exogenous factors that can aggravate challenges threatening the stability of Poland’s financial sector in the near future are identified.
Źródło:
Research Papers in Economics and Finance; 2020, 4, 3; 7-16
2543-6430
Pojawia się w:
Research Papers in Economics and Finance
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
KORELACJA INDEKSÓW CEN AKCJI NA GLOBALNYCH RYNKACH FINANSOWYCH
Correlation on the global financial markets
Autorzy:
Hołubowicz, Krzysztof
Powiązania:
https://bibliotekanauki.pl/articles/950801.pdf
Data publikacji:
2014
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
correlation
stock market
financial crisis
Opis:
The main objective of the paper was to study connections between the financial markets including the Polish stock exchange market. The author wanted to respond to the following questions: • How strong are correlations among the main stock exchanges in the world? • What is the time (bear market or bull market) with stronger interdependencies among global financial markets? • What markets are most related to Polish WIG 20 Index? The author gathered data from 1999 till 2011. Correlation is calculated for the main global stock exchanges but it also contains Polish market. We can see that the longer period of calculation the weaker connections among stocks all over the world. Furthermore in crisis time interdependencies are stronger what leads us to support a hypothesis that diversification among stock markets does not work properly because of global economy. Next research in this area should focus on the fundamental determinants of international correlation across equity markets. Studies have to take into consideration industry specifications of each national market as well as the correlation of the countries’ business cycles.
Źródło:
Financial Sciences. Nauki o Finansach; 2014, 2(19); 71-81
2080-5993
2449-9811
Pojawia się w:
Financial Sciences. Nauki o Finansach
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Rozwój i zmiana struktury światowych rynków finansowych
Development and Change in the Structure of the Global Financial Markets
Autorzy:
Stanisławski, Miłosz
Powiązania:
https://bibliotekanauki.pl/articles/586231.pdf
Data publikacji:
2013
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
Globalna polityka finansowa
Międzynarodowe rynki finansowe
Rynek kapitałowy
Rynki wschodzące
Capital market
Emerging markets
Global financial policy
International financial markets
Opis:
Until 15th August 1971 the value of the U.S. dollar was anchored to gold. Facing an emerging currency crisis and the imminent danger that the United States would no longer be able to redeem dollars for gold, gold convertibility was finally terminated by President Nixon. It has begun the process of financialization the global economy. Until the end of XX century this process has concerned mainly developed countries with mature economies, presently it has happened also on emerging markets. In 2010, emerging economies made up for 21 per cent of the global financial assets worth 198 trillion USD. The value of financial assets worldwide is expected to touch 371 trillion USD by 2020, with emerging economies accounting for about one third of the total amount (111 trillion USD). The projected worth of financial assets in 2020 would be nearly double the value of around 198 trillion USD witnessed in 2010. Increase in the share of emerging markets is both a barrier effect of demand for financial products as a consequence of over-saturation of financial products of developed countries and the growing affluence of the societies of Asia, Latin America, and Central Europe. The purpose of this article is to present the development of global financial markets and to discuss the progressive process of the structural transformation in the global capital market, caused by the growing importance of the emerging markets.
Źródło:
Studia Ekonomiczne; 2013, 174; 15-27
2083-8611
Pojawia się w:
Studia Ekonomiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Kształtowanie rynkowego ładu gospodarczego w Polsce w warunkach globalnego kryzysu finansowego i gospodarczego
Developing Economic Market Order in Poland under Global Financial and Economic Crisis Circumstances
Autorzy:
Przybyciński, Tomasz
Powiązania:
https://bibliotekanauki.pl/articles/500588.pdf
Data publikacji:
2011
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
ład rynkowy
Polska
globalny kryzys finansowy i gospodarczy
market order
Polska
global financial and economic crisis
Opis:
Ostry spór ustrojowy głównych sił politycznych sprawił, że w ostatnich latach polityka kształtowania rynkowego ładu gospodarczego w Polsce znajdowała się niejako na rozdrożu. Nie udało się bowiem zrealizować ani koncepcji Polski solidarnej, ani projektu Polski liberalnej. Jednakże polska gospodarka okazała się relatywnie odporna na globalny kryzys finansowy i gospodarczy. Przyczyniły się do tego w szczególności jej dość mocne fundamenty, a zwłaszcza dobra kondycja sektora finansowego. Działania podjęte przez rząd i NBP pod ciśnieniem globalnego kryzysu finansowego i gospodarczego zapobiegły destabilizacji sektora bankowego. Wątpliwości budził natomiast sposób przeciwdziałania skutkom kryzysu w sferze realnej.
A harsh dispute of major political powers in Poland has resulted in the fact that over the past several years the policy of developing economic order has been impeded, since neither the concept of solidarity Poland nor liberal Poland have been realised. However, the Polish economy has proven relatively resistant to the global financial and economic crisis. It is its solid foundation, and notable sound financial sector, that have contributed to crisis resistance. Measures undertaken by the government and the National Bank of Poland under the pressure of the financial and economic crisis have prevented destabilisation of the banking sector. Yet, the way of counteracting the aftermath of the crisis in real terms has triggered numerous doubts.
Źródło:
Prace i Materiały Instytutu Rozwoju Gospodarczego SGH; 2011, 85 :Polityka gospodarcza w świetle kryzysowych doświadczeń; 241-272
0866-9503
Pojawia się w:
Prace i Materiały Instytutu Rozwoju Gospodarczego SGH
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Gospodarki wschodzące w obliczu kryzysu finansowego: duża odporność czy podatność?
Emerging Market Economies in the Face of a Financial Crisis: Resilience or Vulnerability?
Autorzy:
Wojtyna, Andrzej
Powiązania:
https://bibliotekanauki.pl/articles/574580.pdf
Data publikacji:
2010-09-30
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:
vulnerability and resilience to financial crisis
emerging market economies
decoupling hypothesis
global financial flows
Opis:
The paper is concerned with selected aspects oftheoretical and empirical analysis that help better understand the role of factors determining the resilience of medium-developed countries to financial crises. The analysis is made in the context of the latest crisis, which began in highly developed economies. The second part of the paper focuses on some widely disputed issues involving a theoretical explanation of the causes behind the latest crisis. Even though, in the case of emerging market economies, the original causes behind the crisis can be treated as external ones, Wojtyna says, they need to be scrutinized because of the interaction between the financial sector and the real economy. This interaction is similar in both medium-developed and highly developed countries, according to the author. Part 3 focuses on global imbalances and their role in transmitting the crisis to and from medium-developed countries. This trend is linked with the wider problem of the costs and benefits of financial globalization and the decoupling hypothesis debated in the context of business cycles in highly and medium-developed economies. Part 4 discusses the results of empirical studies designed to check the importance of factors determining the resilience of medium-developed countries to the latest crisis. A more detailed evaluation of the resilience of emerging market economies to the latest crisis could be made after anti-crisis measures taken by governments and central banks in highly developed countries cease to influence these countries’ economies, Wojtyna says. Preliminary findings in this area are encouraging for medium-developed countries, he adds. According to the author, changes in macroeconomic policy as well as structural and institutional changes carried out in response to previous crises have significantly reduced medium-developed countries’ vulnerability to global crises.
Źródło:
Gospodarka Narodowa. The Polish Journal of Economics; 2010, 242, 9; 25-45
2300-5238
Pojawia się w:
Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
THE POST-CRISIS WORLD: THE WORLD ECONOMY IN THE AFTERMATH OF THE GREAT FINANCIAL DOWNTURN
Autorzy:
Czubocha, Krzysztof
Powiązania:
https://bibliotekanauki.pl/articles/599441.pdf
Data publikacji:
2010
Wydawca:
Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Tematy:
FREE MARKET CAPITALISM
GLOBAL FINANCIAL CRISIS
GLOBALIZATION
RECESSION
THE GREAT FINANCIAL CRISIS
THE NEW NORMAL
Opis:
The great financial crisis of 2008/2009 precipitated substantial changes in the world economy, national economies and the world balance of power. Economists coined the term “the new normal” to describe the post crisis world. The new world order will be characterized by increased state intervention, a recession generation, the disconnect between the fate of big companies and labor, the end of upward social mobility, increased state capitalism, changes to the process of globalization and the growing influence of international capital on national economies. Advanced economies will undergo a period of economic stagnation whereas emerging economies will grow at a much faster pace. As a result, the world balance of power will change. Western countries will lose their influence as their share of the world economy will diminish. A new multi-polar world will be created in which Western economic rules and values will no longer be emulated. Free market capitalism, human rights and democracy will be weakened.
Źródło:
Finansowy Kwartalnik Internetowy e-Finanse; 2010, 6, 4; 24-35
1734-039X
Pojawia się w:
Finansowy Kwartalnik Internetowy e-Finanse
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The impact of the first global financial crisis in the 20th century on the Hungarian regional employment inequalities
Autorzy:
Dabasi Halàsz, Zsusanna
Powiązania:
https://bibliotekanauki.pl/articles/639690.pdf
Data publikacji:
2011
Wydawca:
Uniwersytet Jagielloński. Wydawnictwo Uniwersytetu Jagiellońskiego
Tematy:
labour market
financial crisis
employment inequalities
Opis:
The crisis is a sign that current driving forces of development are wearing out, and the former mentality can no longer be successful either. The crisis highlights that new driving forces should be found and different mentality is necessary to build an acceptable future for the major part of the society. Although the crisis itself is a negative process, it incorporates the possibility of future recovery and the hope of a new beginning. The lack of changes facilitating social renewal has caused major damages recently because the outdated thinking and the lack of appropriate regulatory instruments damage nature and the base necessary for our life [Nováky, 2011]. The researcher’s responsibilities are not only to determine the facts and relationships, but to seek for constructive solutions, and to help apply it by the economic policy. This is not necessarily a political attitude, even though it is indisputable that the economic analysis of public policy includes the use of substantive – normative and positive – theories, but on the other hand, it requires a specific theory-building strategy [Csontos, 1997]. The study reviews the causes of regional labour market disparities looking back to the time of regime change, and analyse the effect of the 2008 financial crisis on regional employment.
Źródło:
Zarządzanie Publiczne; 2011, 4(16); 119-132
2084-3968
Pojawia się w:
Zarządzanie Publiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Identification of global systemically important stock exchanges
Autorzy:
Karkowska, Renata
Kravchuk, Igor
Powiązania:
https://bibliotekanauki.pl/articles/22446431.pdf
Data publikacji:
2019
Wydawca:
Instytut Badań Gospodarczych
Tematy:
capital market
systemic risk
stock exchange
macroprudential policy
financial stability
Opis:
Research background: Increased regulations reducing systemic risk are essentially underpinned by the understanding of the global nature and sources of instability of the financial system. In the economic literature, there are many arguments presented by critical supporters and opponents of measuring and reporting global systemically important entities. Purpose of the article: In response to the requirements of regulators, the article seeks to identify systematically important regulated stock markets for selected global stock exchanges by developing a composite ratio. Additionally, it provides empirical evidence concerning their risk exploration. Methods: The proposed method uses weighted average values of indicators grouped in four categories: (1) market size, (2) cross-jurisdictional activity and interconnectedness, (3) substitutability, (4) complexity. The research covers stock exchanges, reported to WFE, spanning the period 2008?2017. Findings & Value added: The study finds that the problem of systemic risk on global stock exchanges is growing despite numerous prudential regulations. In order to obtain a more complete assessment of market systemic sensitivity, regulators should take into account a wider range of indicators and calculations such as cross-jurisdictional activity and market complexity.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2019, 14, 1; 31-51
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Current trends of global market IPO and their impact on the institutional structure of Kazakhstan’s stock market
Autorzy:
Nichkasova, Yuliya
Powiązania:
https://bibliotekanauki.pl/articles/2128085.pdf
Data publikacji:
2018
Wydawca:
Uniwersytet w Białymstoku. Wydawnictwo Uniwersytetu w Białymstoku
Tematy:
IPO
stock exchanges
competition
financial centres
capitalization
AIFC
Opis:
Purpose – The globalization of the world economy is leading to a change in the landscape of the world’s fund infrastructure, the priority of financial capital over the economy, the stimulation of competition and integration processes in the capital markets. The last decade has demonstrated the intensive development of new financial centres in emerging markets, which motivate the movement of financial resources to points of innovative growth and provide an increasingly wide choice for issuers and investors. The purpose of this study was to analyse the qualitative characteristics of the initial public offer of shares and the role of this financial instrument for the state’s decision to diversify the system of financing sustainable development of the economy. Methods – The methodology of the author’s research is based on methods of economic analysis (economic monitoring), statistical research (statistical observationmethod and grouping method), abstraction method. Approach – The basis of the study is a systematic approach, a dialectical method of cognition, logical analysis and synthesis. Materials for the study were empirical, statistical data of the auditing companies Ernst & Yang and PricewaterhouseCoopers,materials of monographs and articles. Findings – The research resulted in the identification and description of current trends in the international practice of attracting long-term capital, an understanding of which is the opportunity to use this experience for the targeted development of a national stock market. For the Republic of Kazakhstan, located in the centre of the Asia-Pacific region, this is a unique opportunity to ensure the dynamic development of the country’s stock market, having entered it into the global financial architecture.
Źródło:
Optimum. Economic Studies; 2018, 2(92); 74-89
1506-7637
Pojawia się w:
Optimum. Economic Studies
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The condition of the cryptocurrency market in Poland on the background of global development. Small and medium companies
Autorzy:
Miciuła, Ireneusz
Powiązania:
https://bibliotekanauki.pl/articles/1062953.pdf
Data publikacji:
2019
Wydawca:
Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:
Small and medium companies
cryptocurrencies
cryptocurrency market
financial innovations
market regulations for cryptocurrencies
Opis:
The development of the cryptocurrency market and the implications for the whole economy and finance all traders causes a keen interest in this subject. The article discusses the functioning of a financial system based on cryptocurrencies and its significance for economies. It was presented the development of the global cryptocurrency market and analyzed the most popular cryptocurrency, bitcoin. The analysis and assessment of the state and structure of the Polish cryptocurrencies market were presented on the background of the global cryptocurrency market. Also we presented the possible development paths for the cryptocurrencies market in the world.
Źródło:
World Scientific News; 2019, 124, 2; 143-154
2392-2192
Pojawia się w:
World Scientific News
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Competition and concentration in the Polish banking sector after the global financial crisis of 2008
Autorzy:
Pawłowska, Małgorzata
Powiązania:
https://bibliotekanauki.pl/articles/630225.pdf
Data publikacji:
2018
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
competition
concentration
mergers and acquisitions
market structure
Opis:
The aim of this paper is to investigate the level of competition in the Polish banking sector. The analysis of concentration ratios and competition measures showed that as a result of the consolidation process, the level of competition in the Polish banking sector decreased. Moreover, it was pointed out that despite the generally favorable situation, the regulatory requirements observed in recent years are a significant challenge for banks in order to maintain their competitive position on the market. In addition, it seems that the greatest challenge now is the inability to reconcile pressure on short-term profits along with long-term development strategies.
Źródło:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2018, 4 (36); 163-181
2082-0976
Pojawia się w:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Global and local trend analysis and change-point analysis of selected financial and market indices
Autorzy:
Ballova, Dominika
Powiązania:
https://bibliotekanauki.pl/articles/384353.pdf
Data publikacji:
2019
Wydawca:
Sieć Badawcza Łukasiewicz - Przemysłowy Instytut Automatyki i Pomiarów
Tematy:
trend analysis
change-point analysis
cluster analysis
Opis:
From the macroeconomic point of view, the stock index is the best indicator of the behavior of the stock market. Stock indices fulfill different functions. One of their most important functions is to observe developments of the stock market situation. Therefore, it is crucial to describe the long-term development of indices and also to find moments of abrupt changes. Another interesting aspect is to find those indices that have evolved in a similar way over time. In this article, using trend analysis, we will uncover the global evolution of selected indices. After evaluating the global trend in the series we compare the results with local trend analysis. Other goal is to detect the moments in which this development suddenly changed using the change-point analysis. By means of cluster analysis, we find those indices that are most similar in long-term development. In each analysis, we select the most appropriate methods and compare their results.
Źródło:
Journal of Automation Mobile Robotics and Intelligent Systems; 2019, 13, 3; 56-63
1897-8649
2080-2145
Pojawia się w:
Journal of Automation Mobile Robotics and Intelligent Systems
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
In Search of Hedges and Safe Havens in Global Financial Markets
Autorzy:
Wanat, Stanisław
Śmiech, Sławomir
Papież, Monika
Powiązania:
https://bibliotekanauki.pl/articles/465669.pdf
Data publikacji:
2016
Wydawca:
Główny Urząd Statystyczny
Tematy:
market regimes
clustering methods
copula
DCC-GARCH
Opis:
The aim of the paper is to search for hedges and safe havens within three instrument classes: assets (represented by the S&P500 index), gold and oil prices, and dollar exchange rates. Weekly series of returns of all the instruments from the period January 1995 – June 2015 are analysed. The study is based on conditional correlations between the instruments in different market regimes obtained with the use of copula-DCC GARCH models. It is assumed that different market regimes will be identified by statistical clustering techniques; however, only conditional variances (without conditional covariances) will be taken into account. The reason for this assumption is connected with the fact that variances can be understood as market risk, and, as such, are a good indicator of market conditions. A considerable advantage of such an approach is the lack of need to determine the number of market regimes, as it is established by clustering quality measures. What is more, the methodology used in the paper makes it possible to treat the relations between instruments symmetrically. The results obtained in the study reveal that only dollar exchange rates can be treated as a (strong) hedge and a (strong) safe haven for other instruments, while gold and oil are a hedge for assets.
Źródło:
Statistics in Transition new series; 2016, 17, 3; 557-574
1234-7655
Pojawia się w:
Statistics in Transition new series
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Open Pension Funds market after reform of 2014 – the global perspective
Autorzy:
Jakubowski, Sebastian
Powiązania:
https://bibliotekanauki.pl/articles/529822.pdf
Data publikacji:
2015
Wydawca:
Wyższa Szkoła Bankowa we Wrocławiu
Tematy:
social security
public pensions
retirement plans
private pensions
business and securities law non-bank financial institutions financial instruments
institutional investors
Opis:
The beginning of the second millennium coincided with major pension reforms in many countries. This global movement also included Poland where a pension market was created in 1999. The first 15 years were a period of expansion of Open Pension Funds market in Poland. This changed with the Reform of 2014, which brought new standards applicable to OFE investment policy. Half of the assets were transferred to Social Insurance Institution (ZUS) and legal investment limits for Open Pension Funds undergone a major changes. Evolution of investment policy of Open Pension Funds during last fifteen years is analyzed with special emphasis on the global perspective.
Źródło:
Central and Eastern European Journal of Management and Economics (CEEJME); 2015, 2; 105-126
2353-9119
Pojawia się w:
Central and Eastern European Journal of Management and Economics (CEEJME)
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Crisis Periods, Contagion and Integration Effects in the Major African Equity Markets During the 2007-2009 Global Financial Crisis
Autorzy:
Labuschagne, Coenraad
Majewska, Elżbieta
Olbryś, Joanna
Powiązania:
https://bibliotekanauki.pl/articles/955428.pdf
Data publikacji:
2016
Wydawca:
Uniwersytet w Białymstoku. Wydawnictwo Uniwersytetu w Białymstoku
Tematy:
stock market
crisis
cross-market correlations
contagion
integration
Opis:
A number of studies assert that during critical events cross-market correlations change substantially. The main focus of this paper is to explicitly test two research hypotheses concerning the effect of increasing cross-market correlations in the 2007-2009 Global Financial Crisis (GFC) compared to the pre-crisis period. These hypotheses state that there was no contagion and no integration effects among the U.S., the U.K., and selected African stock markets (South Africa, Namibia, Egypt, Nigeria, Morocco and Kenya) during the GFC. The crisis periods are formally detected using a statistical method of dividing market states into bullish and bearish markets. The sample period begins in January 2003 and ends in December 2013, and it includes the 2007 U.S. subprime crisis. Obtained results indicate that there is no reason to reject both research hypotheses. Moreover, the results confirm a heterogeneity of the African equity markets in the context of the influence of the recent global crisis.
Źródło:
Optimum. Economic Studies; 2016, 5(83); 31-52
1506-7637
Pojawia się w:
Optimum. Economic Studies
Dostawca treści:
Biblioteka Nauki
Artykuł

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