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Wyszukujesz frazę "financial crisis" wg kryterium: Temat


Tytuł:
Instytucja pożyczkodawcy ostatniej instancji - na przykładzie Międzynarodowego Funduszu Walutowego
Autorzy:
Frankiewicz, Damian
Powiązania:
https://bibliotekanauki.pl/articles/630191.pdf
Data publikacji:
2016
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
Financial crisis, Financial instruments, Loans
Opis:
A global lender of last resort is an institution that plays a significant role in an international financial system. It was clearly brought into the limelight by the recent financial crisis. The existence of this institution is strongly justified by the volume and volatility of global capital flows, the increasing financial and economic interlinkages between the countries, as well as the consequent possibility of the spill over effects. The article argues that the International Monetary Fund appears to be the only international financial institution capable of acting as a global lender of last resort and thus ensuring stability of the international financial system. The IMF has proven useful in providing liquidity support to countries struggling with financial dificulties in recent years. It is equipped with adequate financial resources, lending facilities tailored to address the specific circumstances of its members, highly qualified staff and the coordination capacities at the international level, which are indispensable to forestall the crisis in the global economy
Źródło:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2016, 4; 167-184
2082-0976
Pojawia się w:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Korea Południowa – doświadczenia dwóch kryzysów finansowych
Autorzy:
Mitręga-Niestrój, Krystyna
Powiązania:
https://bibliotekanauki.pl/articles/630062.pdf
Data publikacji:
2015
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
global financial crisis, Asian crisis
Opis:
The article analyzes South Korean experiences of the 1997 and 2008–2009financial crises. The article describes the conditions which led to the 1997 financialcrisis and attempts to answer the question whether similar factors have takenplace in 2008. It also describes the consequences of the crises, especially for thebanking industry and on the financial market. The article also presents a shortoverview of the most important measures taken by the Korean authorities in faceof the Asian crisis. The two analyzed financial crises have some common characteristics,such as a strong decrease in the value of financial assets and the negativeconsequences in the economy. However, Korea faced the global financial crisisstrengthened thanks to the reforms of financial institutions.
Źródło:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2015, 3, 4; 77-89
2082-0976
Pojawia się w:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Lekcje z doświadczeń Islandii w przeciwdziałaniu skutkom kryzysu finansowego
Lessons from Iceland s Experience in Anticrisis Activities
Autorzy:
Wajda-Lichy, Marta
Powiązania:
https://bibliotekanauki.pl/articles/587604.pdf
Data publikacji:
2013
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
Kryzys finansowy
Kryzys finansowy państwa
Financial crisis
State financial crisis
Opis:
Iceland was the first European country which was severely hit by the financial crisis of 2008. The consequences of rapid increase in financial services and fast economic growth led to overheating in Icelandic economy and collapse of the banking sector. Iceland formulated a recovery program focused on unusual element - capital control. Moreover, exchange rate stability, restructurization of debts and consolidation of public finance were also introduced as stabilization measures. Comparing to others European economies, like Greece or Spain, in 2011 the condition of Icelandic economy was better (higher rate of GDP growth, lower unemployment rate and public deficit). The strategy adopted by Iceland turned out to bring successful results, but there is a question whether it could be implemented in others economies.
Źródło:
Studia Ekonomiczne; 2013, 170; 190-205
2083-8611
Pojawia się w:
Studia Ekonomiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Kryzys finansowy - przebieg i skutki dla gospodarki
Financial crisis – course and consequences for the economy
Autorzy:
Jóźwiakowski, Paweł
Powiązania:
https://bibliotekanauki.pl/articles/509767.pdf
Data publikacji:
2015-06-22
Wydawca:
Polskie Towarzystwo Ekonomiczne
Tematy:
kryzys finansowy
przebieg kryzysu finansowego
przyczyny kryzysu finansowego
skutki kryzysu finansowego
financial crisis
course of the financial crisis
causes of the financial crisis
effects of the financial crisis
Opis:
Celem artykułu jest przedstawienie zjawiska kryzysu finansowego pierwszej dekady XXI wieku. Realizacja tego celu wymaga wyjaśnienia podstawowych pojęć związanych z kryzysem finansowym oraz modeli, które opisują przebieg kryzysu finansowego. W dalszej części artykułu autor przedstawił przyczyny oraz skutki jednego z największych kryzysów finansowych w historii na światową gospodarkę.
The main objective of that report is presented the phenomenon of financial crisis in the first decade of XXI century. The objective established reqiures an explanation of the basic concepts associated with the financial crisis. In the next part of the article there were described the causes and effects of the financial crisis on the world economy.
Źródło:
Zeszyty Naukowe Polskiego Towarzystwa Ekonomicznego w Zielonej Górze; 2015, 2, 2; 6-17
2391-7830
2545-3661
Pojawia się w:
Zeszyty Naukowe Polskiego Towarzystwa Ekonomicznego w Zielonej Górze
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Values and Economic Crisis
Wartości a kryzys ekonomiczny
Autorzy:
Pyrkosz, Damian
Powiązania:
https://bibliotekanauki.pl/articles/548347.pdf
Data publikacji:
2012
Wydawca:
Uniwersytet Rzeszowski. Wydawnictwo Uniwersytetu Rzeszowskiego
Tematy:
financial crisis
culture
values
Opis:
In the midst of debates on possible causes and solutions to the current unrest in international markets, political and economic decision makers tend to primarily focus on the role of economic and financial measures and oversee the fact that the economic instability is also the result of negative occurrences beyond the economic sphere, i.e. in the area of values and culture. With reference to the findings in the 2010 World Economic Forum report and other relevant publications on the role of culture and values in economic development, the paper seeks to answer the question to what extent the present economic crisis is rooted in the crisis of some fundamental values critical not only to a sound economy but also society and what are the possible ways of dealing with it.
W dyskusjach na temat możliwych przyczyn i rozwiązań obecnej niepewnej sytuacji gospodarczej na międzynarodowych rynkach, decydenci – zarówno polityczni, jak i ekonomiczni – mają tendencję do koncentrowania się na roli instrumentów gospodarczych i finansowych, pomijając tym samym fakt, że niestabilność ekonomiczna jest również rezultatem negatywnych zjawisk występujących poza sferą gospodarczą, tj. w sferze wartości i kultury. Przyjmując za punkt wyjścia wyniki raportu opublikowanego w 2010 roku przez Światowe Forum Ekonomiczne oraz odnosząc się do innych istotnych publikacji na temat roli kultury i wartości w rozwoju ekonomicznym, artykuł poszukuje odpowiedzi, do jakiego stopnia obecny kryzys ekonomiczny jest również kryzysem fundamentalnych wartości warunkujących istnienie nie tylko silnej gospodarki, ale również i zdrowego społeczeństwa. Artykuł przedstawia również postulaty zmian, które mogłyby uzdrowić sytuację.
Źródło:
Nierówności Społeczne a Wzrost Gospodarczy; 2012, 25; 144-156
1898-5084
2658-0780
Pojawia się w:
Nierówności Społeczne a Wzrost Gospodarczy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Rola instrumentów pochodnych w kryzysie finansowym 2008/2009
The role of derivatives in global financial crisis 2008/2009
Autorzy:
Szymańska, Justyna
Powiązania:
https://bibliotekanauki.pl/articles/569908.pdf
Data publikacji:
2014
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
financial crisis
MBS
CDS
Opis:
The article presents the development of the financial crisis in the United States in 2008/2009, which led to the global financial crisis. The aim of the paper is to systematize the knowledge of the reasons of the crisis. The author shows the correlation among the elements that caused the economy breakdown. The text describes the inception of subprime credits, i.e. mortgages granted to the individuals with poor credit history, securitization and expansion of mortgage and asset-backed securities derived from the subprime credits. The mechanism of the securitization has been broadly described, as well as the idea of the Collateralized Mortgage Obligation presented in 1977. The other derivatives mentioned in the article are Asset Backed Securities, Mortgage Backed Securities, Collateralized Debt Obligations and Credit Default Swaps. The definitions and the clarification of their meaning are supported by the explanation why the investors have been lured and fascinated by them. The author also answers the question why the derivatives became a serious threat to the economic and financial stability. The next problem is the legal context of the crisis, for example the changes brought by Gramm-Leach-Bliley Financial Services Modernization Act of 1999 which allowed the banks to join commercial and investment activity. Such a change made the banks start to compete, to create and to sell Asset Backed Securities, Mortgage Backed Securities, Collateralized Debt Obligations and Credit Default Swaps on a large scale. The next problem described in the text is the evolution of the shadow banking sector, i.e. the parallel banking sector, as well as the large, complex financial institutions (LCFIs) in the 1970s. The another issue is the creation and the burst of the housing bubble. The author presents the development of the real estate and mortgage market commenced by Home Mortgage Disclosure Act and Community Reinvestment Act and supported by Government Sposored Enterprises: Fannie Mae and Freddie Mac. Among the causes of the global financial crisis the important role is attributed to the credit rating agencies. They have been paid by the financial institutions to prepare the credit ratings of the risky financial instruments. Moreover they were basing on the old models. As the result, the ratings were much overstated and provided false information to the investors. The last part of the article presents how the crisis spread in the United States and how it affected the other economies.
Źródło:
Ekonomia XXI Wieku; 2014, 2(2); 34-44
2353-8929
Pojawia się w:
Ekonomia XXI Wieku
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:
The financial crisis and securitization
Autorzy:
Szabłowska, Ewa
Powiązania:
https://bibliotekanauki.pl/articles/628614.pdf
Data publikacji:
2010
Wydawca:
Fundacja Pro Scientia Publica
Tematy:
securitization, financial crisis, subprime, Polish financial market
Opis:
Securitization means the change of non-liquid assets into securities. This topic has become more popular, mainly due to the U.S. subprime mortgage crisis. In this article, an analysis is given of the current situation in financial markets and the changes, which were implemented from the first days of subprime crisis. Also mentioned is the impact the crisis has had on securitization development. Part of the article is devoted to the situation on the Polish financial market. It is quite a new market and it is susceptible to such crises. The Article presents the part played by securitization in the Polish financial market and the circumstances for its growth in the near future. It also covers the latest information related to financial market regulations, which could have direct or indirect impact on the quantity and value of securitization transactions.
Źródło:
Journal of Education Culture and Society; 2010, 1, 1; 37-48
2081-1640
Pojawia się w:
Journal of Education Culture and Society
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Kryzys finansowy a finansyzacja rynków towarowych
Financial Crisis and the Financialization of Commodity Markets
Autorzy:
Aspadarec, Waldemar
Powiązania:
https://bibliotekanauki.pl/articles/957005.pdf
Data publikacji:
2013
Wydawca:
Akademia Leona Koźmińskiego w Warszawie
Tematy:
financial crisis
commodity markets
financialization
Opis:
Purpose: Analysis of reasons, correlations and consequences following from the impact that financial investors have on commodity markets – both before and after the crisis. Methodology: The research on the tremendous impact that the financial sector exerts on price formation in commodity markets, defined as the financialization of commodity markets, was based on a narrative approach. This approach makes use of available historical documents and attempts to reconstruct factors causing structural changes in commodity markets. As a result of these factors, commodity and financial markets (and particularly capital market) have become similar to a great extent. Findings: Drawing upon the research, it can be stated that the global financial crisis has contributed not only to a major change in the involvement of investors in commodity markets, but also to a structural change of this involvement, which is accompanied by a number of negative consequences. Originality: The research enables to draw certain conclusions, e.g. that the financialization of commodity markets is reflected in a radical price fluctuation in these markets due to which the prices are isolated from fair value. Structural changes are also discussed. They entail the attempt to counteract such negative consequences, e.g. regulations imposed to provide a greater transparency of the activity undertaken by investors in commodity markets.
Źródło:
Management and Business Administration. Central Europe; 2013, 21, 2(121); 23-37
2084-3356
Pojawia się w:
Management and Business Administration. Central Europe
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:
Impact of the global financial crisis on cooperation between SMEs and banks
Wpływ globalnego kryzysu finansowego na współpracę pomiędzy MSP a bankami
Autorzy:
Bednarz, Joanna
Markiewicz, Magdalena
Powiązania:
https://bibliotekanauki.pl/articles/1832436.pdf
Data publikacji:
2012
Wydawca:
Politechnika Gdańska
Tematy:
SMEs
financing
financial crisis
relations
Opis:
The sector of SMEs plays a key role in the economic development in Poland. On the other hand they belong to the group of units that is characterized with the weakest position in the market. Practice and theory show that SMEs seek for the financial means for running their activities and for investments. The problem with the financing strongly appeared in the time of the financial and economic crisis, when SMEs and entrepreneurs have suffered a double shock: a drastic plummet in demand for goods and services and the tightening in credit terms, which were ruthlessly disturbing their cash flows.
Sektor MSP pełni kluczową rolę w rozwoju polskiej gospodarki. Jest on często postrzegany przez banki jako obiecujący i dochodowy, ale jednocześnie dość ryzykowny. Ryzyko to wynika najczęściej z dość krótkiej obecności tych firm na rynku oraz braku dobrej jakości zabezpieczeń spłaty kredytu. Analizując sytuację różnych grup podmiotów na rynku usług finansowych można powiedzieć, iż pozycja MSP jest raczej słaba. Wynika to z wielu czynników: gorszego dostępu do informacji, niższej ich jakości oraz niższego poziomu wiedzy merytorycznej w zakresie świadczonych usług finansowych. Jednym z wielu problemów, z którymi borykają się te przedsiębiorstwa jest utrudniony dostęp do zewnętrznych źródeł finansowania. Są one niezbędne do prowadzenia bieżącej działalności, jak również umożliwiają ich dalszy rozwój. Problem ten pogłębił od 2008 roku globalny kryzys gospodarczy i finansowy, a zwłaszcza brak zaufania m.in. pomiędzy instytucjami finansowymi i podmiotami gospodarczymi. Celem artykułu jest ukazanie wpływu globalnego kryzysu na relacje pomiędzy bankami a MSP.
Źródło:
Przedsiębiorstwo we współczesnej gospodarce - teoria i praktyka; 2012, 1, 1; 15-25
2084-6495
Pojawia się w:
Przedsiębiorstwo we współczesnej gospodarce - teoria i praktyka
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The role of central banks in the market economy in a period of financial crisis
Rola banków centralnych w gospodarce rynkowej w czasie kryzysu finansowego
Autorzy:
Kamba-Kibatshi, Marcel
Powiązania:
https://bibliotekanauki.pl/articles/548991.pdf
Data publikacji:
2012
Wydawca:
Uniwersytet Rzeszowski. Wydawnictwo Uniwersytetu Rzeszowskiego
Tematy:
Polish central bank
financial crisis
Opis:
Bank centralny nie jest typowym podmiotem gospodarczym (nie ma charakteru komercyjnego) ani urzędem administracji państwowej, choć skupia w sobie niektóre ich cechy. Banki centralne ze względu na spełniane funkcje i realizowane zadania są uważane za instytucje sektora publicznego. Są one jednostkami państwowymi lub podporządkowanymi państwu, o różnym stopniu niezależności, np.: w USA i Niemczech bank centralny ma znaczą autonomię, zaś w Japonii, Wielkiej Brytanii i Norwegii w dużym stopniu podlega państwu. W Polsce bank centralny (NBP) odpowiada za stabilność narodowego pieniądza. Wypełniając swój konstytucyjny obowiązek, bank centralny (NBP) opracowuje i realizuje strategię polityki pieniężnej, a także i uchwalane corocznie założenia polityki pieniężnej. Poprzez zarządzanie rezerwami dewizowymi zapewnia odpowiedni poziom bezpieczeństwa finansowego państwa. W ramach pełnionych funkcji nadzorczych i regulacyjnych NBP dba o płynność, sprawność i bezpieczeństwo systemu płatniczego. Przyczynia się również do rozwoju bezpiecznej infrastruktury rynku finansowego.
The central bank – isn't a typical business entity (it’s character is not commercial), neither a body of government administration, although some central bank’s attributes seems to be similar to those units. The central banks with regard for fulfilled functions and implemented tasks are considered to be public sector bodies. The central banks are the state units or units subordinated to the state, which has various degree of independence, e.g.: in the USA and Germany the central bank is characterised with large extend of autonomy but in Japan, the Great Britain and Norway the central bank is subordinated to the state in a large degree. In Poland the central bank (the National Bank of Poland) is responsible for a stability of national currency. The National Bank of Poland, fulfilling its’ constitutional duty, is preparing and implementing the strategy of monetary policy, as well as assumptions of monetary policy which are enacted every year. The central bank is ensuring appropriate level of state’s financial safety by the managing of foreign currency reserves. In the range of fulfilled supervisory and regulatory functions the National Bank of Poland is being concerned for the fluidity, the efficiency and the safety of payment system. It’s also contributing to development of safe infrastructure of financial market
Źródło:
Nierówności Społeczne a Wzrost Gospodarczy; 2012, 26; 27-44
1898-5084
2658-0780
Pojawia się w:
Nierówności Społeczne a Wzrost Gospodarczy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
THE INFLUENCE OF FINANCIAL CRISIS ON INSURANCE SALES - COMPARISON OF ACTUAL DATA AND FINANCIAL INTERMEDIARY OPINIONS (Wplyw kryzysu finansowego na sprzedaz ubezpieczen - porównanie danych rzeczywistych z ocenami posredników finansowych)
Autorzy:
Rodzinka, Jacek
Hady, Joanna
Powiązania:
https://bibliotekanauki.pl/articles/599583.pdf
Data publikacji:
2010
Wydawca:
Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Tematy:
FINANCIAL CRISIS
SALE OF INSURANCE
Opis:
This article presents results of research conducted among financial intermediaries who work in insurance companies in the Podkarpackie region. The main issue is to compare actual data on the influence of the financial crisis on insurance sales and financial intermediary opinions. On the basis of the data, the authors observe that a recession in the insurance market is perceptible. Sales of insurance as well as other products and services is currently more difficult. However, some financial intermediaries also say that the crisis had a positive impact on some insurance sales.
Źródło:
Finansowy Kwartalnik Internetowy e-Finanse; 2010, 6, 2; 67-75
1734-039X
Pojawia się w:
Finansowy Kwartalnik Internetowy e-Finanse
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Domestic support for Ukrainian agriculture under the conditions of world financial crisis
Autorzy:
Dibrova, A.
Dibrova, L.
Powiązania:
https://bibliotekanauki.pl/articles/573895.pdf
Data publikacji:
2009
Wydawca:
Szkoła Główna Gospodarstwa Wiejskiego w Warszawie. Wydawnictwo Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie
Tematy:
agriculture
world financial crisis
financial crisis
domestic support
agrarian policy
Ukraine
market economy
Opis:
In the last years Ukraine has allocated considerable, with respect to their load on the budget, financial resources for agricultural support. However the significant increases of budgetary support do not substantially influence the effectiveness indices nor agricultural yields. Such information testifies to an imperfect nature of the internal support mechanism of Ukrainian agriculture. As the result, the domestic support did not become an effective stimulus for a production quality increase nor for a rise in the stock breeding production. In 2008 Ukraine gathered the biggest grain harvest. Increased production did not improve the financial results of agriculture and did not produce a stable and dynamic branch development because of the negative influence of world finance crises. Unbalanced supply and demand for agricultural production, low buying ability of inhabitants, lack of branch effective mechanism of domestic support caused complications of price situation in the domestic food market.
Źródło:
Zeszyty Naukowe Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie. Problemy Rolnictwa Światowego; 2009, 06(21)
2081-6960
Pojawia się w:
Zeszyty Naukowe Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie. Problemy Rolnictwa Światowego
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Kryzys jako skutek kryzysu funkcji pieniądza i kryzysu instytucji
Autorzy:
Żyżyński, Jerzy
Powiązania:
https://bibliotekanauki.pl/articles/630145.pdf
Data publikacji:
2015
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
money, central bank, financial crisis
Opis:
The paper analyses transformation of functions of money and addition of a newone. The newest function transforms money from a right to buy goods and servicesinto the right to buy money itself.
Źródło:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2015, 3, 1; 13-34
2082-0976
Pojawia się w:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Financialization as one of the sources of contemporary economic crises
Autorzy:
Tyński, Aleksander
Witkowski, Witold
Wróblewski, Jarosław
Powiązania:
https://bibliotekanauki.pl/articles/16729696.pdf
Data publikacji:
2023
Wydawca:
Instytut Badań Gospodarczych
Tematy:
financialization
financial crisis
financial market
risk
securitization
Opis:
Motivation: Financialization is a multidimensional, complex process, which is currently developing very strongly and which can affect the economy in a positive or negative way. A positive impact usually materializes in the form of an increase in the level of GDP, and a negative one in the form of supremacy of the financial area over the real sphere, an increase in the role of financial activity of non-financial entities, and even the autonomy of the financial sphere in relation to the real sphere.Aim: The purpose of this article is to identify and assess the impact of the financialization process on the modern economy and to look at this process as one of the potential sources of financial crises. This article focuses on the negative effects of financialization and uses the example of the American crisis of 2008.Materials and methods: review and critical review of the literature and reports from the financial sector, with particular emphasis on the negative impact of financialization on the US financial sector in 2008.Results: The first part presents the essence and characteristics of financialization and attempts to systematize this process. In the second part, financialization was looked at through the prism of the risk it brings, the materialization of the effects of which may lead to serious economic turbulence, and even to financial crises. The level of these effects was presented and assessed, as well as the methods of action of the American government, which contributed to minimizing the effects of the 2008 crisis, but which at the same time cannot be considered effective in the fight against financialization.
Źródło:
Catallaxy; 2023, 8, 1; 47-62
2544-090X
Pojawia się w:
Catallaxy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The mean reversion/persistence of financial cycles: Empirical evidence for 24 countries worldwide
Autorzy:
Lv, Shengnan
Xu, Zeshui
Fan, Xuecheng
Qin, Yong
Skare, Marinko
Powiązania:
https://bibliotekanauki.pl/articles/22443105.pdf
Data publikacji:
2023
Wydawca:
Instytut Badań Gospodarczych
Tematy:
financial cycles
financial connectedness
financial crisis
systemic risk
Opis:
Research background: The globalization trend has inevitably enhanced the connectivity of global financial markets, making the cyclicality of financial activities and the spread of market imbalances have received widespread attention, especially after the global financial crisis. Purpose of the article: To reduce the negative effects of the contagiousness of the financial cycles, it is necessary to study the persistence of financial cycles and carve out the total connectedness, spillover paths, and sources of risks on a global scale. In addition, understanding the relationship between the financial cycle and economic development is an important way to prevent financial crises. Methods: This paper adopts the nonlinear smoothing transition autoregressive (STAR) model to extract cyclical and phase characteristics of financial cycles based on 24 countries during 1971Q1?2015Q4, covering developed and developing countries, the Americas, Europe, and Asia regions. In addition, the frequency connectedness approach is used to measure the connectedness of financial cycles and the relationship between the global financial cycle and the global economy. Findings & value added: The analysis reveals that aggregate financial cycles persist for 13.3 years for smoothed and 8.7 years for unsmoothed on average. The national financial cycles are asynchronous and exhibit more prolonged expansions and faster contractions. The connectedness of financial cycles is highly correlated with systemic crises and contributes to the persistence and harmfulness of shocks. It is mainly driven by short-term components and exhibits more pronounced interconnectedness within regions than across regions. During the financial crisis, the global financial cycle movements precede and are longer than the business fluctuations. Based on the study, some policy implications are presented. This paper emphasizes the impact of systemic crises on the persistence of financial cycles and their connectedness, which contributes to refining research related to the coping mechanisms of financial crises.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2023, 18, 1; 11-47
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Współczesne problemy oraz wyzwania w zakresie utrzymania stabilności bezpieczeństwa systemu finansowego
Autorzy:
Alińska, Agnieszka
Pietrzak, Bogusław
Wasiak, Katarzyna
Powiązania:
https://bibliotekanauki.pl/articles/629827.pdf
Data publikacji:
2015
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
financial crisis, financial system stability, financial system safety, safety net
Opis:
Although important changes were introduced to the financial system after the recent financial crisis, there still is room for improvement in terms of stability and safety. The aim of the article is to describe those improvements, particularly in operations of central and commercial banks, and their influence on sustainable growth. The text lists systematic conditions of stability and safety of banking system and points out to the importance of trust in financial institutions, systematic risk, macroprudential policy and the need to coordinate macroprudential, microprudential and monetary policies
Źródło:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2015, 2; 29-50
2082-0976
Pojawia się w:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The Dynamics of Cryptocurrency Price Volatility in the Face of the Crisis on the Example of Bitcoin and Ethereum
Autorzy:
Przyłuska-Schmitt, Judyta
Jegorow, Dorota
Bučková, Jaroslava
Powiązania:
https://bibliotekanauki.pl/articles/16729161.pdf
Data publikacji:
2023
Wydawca:
Uniwersytet Marii Curie-Skłodowskiej. Wydawnictwo Uniwersytetu Marii Curie-Skłodowskiej
Tematy:
cryptocurrency pricing
financial crisis
time series
Opis:
Theoretical background: Over the years, investing in cryptocurrencies has become very popular, and until recently, investors have predicted Bitcoin as a “safe haven”. Belief in a decentralized virtual currency even prompted the Salvadoran government to recognize Bitcoin as a legal tender in September 2021. However, cryptocurrency has depreciated significantly since then. The high amplitude of the fluctuations shows that on November 10, 2021, Bitcoin hit an all-time high of USD 68,979, and on June 18, 2022, it fell to its low of USD 17,601. Today, investors are wondering if investing in Bitcoin and other cryptocurrencies still make sense. Purpose of the article: The aim of the article is to compare the price fluctuations of the most popular cryptocurrencies, i.e. Bitcoin and Ethereum in the currently observed economic crisis in the world and the collapse of the cryptocurrency market. Research methods: Observations of the cryptocurrency market and theoretical issues of its functioning were combined with the analysis of empirical data of Bitcoin and Ethereum quotations from January 2022 to June 2022. The basic research instruments were based on the analysis of dependencies and descriptive statistics. The conducted analysis of the time series was aimed at detecting the nature of the studied phenomenon represented by the sequence of observations of daily quotations and forecasting future values of the time series. In this context, the course of Bitcoin and Ethereum quotations was examined in two categories: Close and Market Cap in search of a potential development pattern. Main findings: The conducted research shows that strong and unpredictable fluctuations in the prices of the studied cryptocurrencies, especially in the period of market shocks, imply unknown uncertainty, much more important than investment decisions made under the conditions of measurable risk. Cryptocurrencies cannot function as an alternative to gold, enabling value to be stored, as confirmed by market quotations over the past months.
Źródło:
Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia; 2023, 57, 2; 101-113
0459-9586
2449-8513
Pojawia się w:
Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Uwarunkowania i priorytety rozwoju pokryzysowej Unii Europejskiej
Determinants and Priorities of the EU Post-Crisis Growth
Autorzy:
Czarczyńska, Anna
Powiązania:
https://bibliotekanauki.pl/articles/957008.pdf
Data publikacji:
2013
Wydawca:
Akademia Leona Koźmińskiego w Warszawie
Tematy:
economic growth
economic integration
financial crisis
Opis:
Purpose: The aim of this paper is to show the conditions of the EU against the realities of the global economy in the post-crisis era, an indication of which are the determinants of the development of the competitive advantage of the Community. Methodology: An analysis of the determinants of growth at different stages of the process of EU integration with particular emphasis on optimum currency area criteria for the euro zone crisis, under asymmetric demand shock. Findings: The last global crisis has highlighted the structural weaknesses of the EU, which in times of economic prosperity can be compensated by a system of transfers and the mechanism of credibility borrowing. With such a strong crisis Europe needs more growth. Research limitations: The costs of this crisis affect the Community, significant for both public finances and the standard of life, but are also visible on a global scale, which is difficult to estimate. Originality: An ex ante perspective on the determinants that will not only restore EU’s position in the world, but also did not miss an opportunity to play a significant role in the rapidly changing global economy, the twenty first century.
Źródło:
Management and Business Administration. Central Europe; 2013, 21, 2(121); 155-169
2084-3356
Pojawia się w:
Management and Business Administration. Central Europe
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Ocena sprawności działania państwa w odniesieniu do skali wydatków publicznych
Evaluation of the Effectiveness of State Functioning Based on Public Expenditure
Autorzy:
Postuła, Marta
Powiązania:
https://bibliotekanauki.pl/articles/957014.pdf
Data publikacji:
2013
Wydawca:
Akademia Leona Koźmińskiego w Warszawie
Tematy:
effectiveness
services
public expenditure
financial crisis
Opis:
Purpose: The purpose of this article is to confirm the thesis that the amount of public funds expenditure has no impact on the effectiveness of state functioning, which – to a greater extent – is dependent on the efficiency of these funds. In the article, the author claims that in the case of the European Union there is no explicit evidence concerning the efficiency of public funds in Member States – both on the micro and macro level. Methodology: A literature review conducted on the basis of collections of academic and scientific articles and an analysis of particular solutions implemented in the European Union and in OECD Member States as well as concerning the consolidation of public funds in the context of the effectiveness of state functioning. Originality: The author of this work – on the basis of the (performed) analysis presented in the article, explains that the optimal fiscal policy should use appropriately selected tools allowing to achieve the best (optimal) method for the management of public funds, in particular the external and internal position of the economy of the given country. The key factors that decide on the effectiveness (excluding non-financial factors) are neither universal (absolute) nor relative extent of public spending. The author concludes that the level of effectiveness is either dependent on the structure of this spending and procedures connected with public expenditure planning, executing, accounting and reporting processes, or the level (quality) of the effectiveness and efficiency evaluation system.
Źródło:
Management and Business Administration. Central Europe; 2013, 21, 2(121); 82-94
2084-3356
Pojawia się w:
Management and Business Administration. Central Europe
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:
FIRM BANKRUPTCY PREDICTION USING SOFT TECHNIQUES OF CALCULATION (Prognozowanie upadlosci firm przy wykorzystaniu miekkich technik obliczeniowych)
Autorzy:
Korol, Tomasz
Powiązania:
https://bibliotekanauki.pl/articles/599686.pdf
Data publikacji:
2010
Wydawca:
Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Tematy:
ARTIFICIAL INTELLIGENCE
BANKRUPTCY
FINANCIAL CRISIS
FORECASTING
Opis:
This article is about the prediction of bankruptcy of companies in Poland. In the article the author compares seven methods of artificial intelligence of forecasting the risks of bankruptcy of companies. It is first attempt of comparative analysis of such wide variety of artificial intelligence methods in predicting bankruptcy in Poland. In the conducted research the author has used data on 185 companies listed on the Warsaw Stock Exchange. This population of firms was divided into learning and testing setdata. Each company has been analyzed using the absolute values of 14 financial ratios and the dynamics of change of these ratios. The author's developed models are characterized by high efficiency. These studies are the first attempt to use fuzzy logic to predict the bankruptcy of companies in Poland and one of the first in the world. Obtained results demonstrate the great potential of this method.
Źródło:
Finansowy Kwartalnik Internetowy e-Finanse; 2010, 6, 2; 1-15
1734-039X
Pojawia się w:
Finansowy Kwartalnik Internetowy e-Finanse
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Strategic priorities of modernization of Ukrainian economy in after-crisis period
Priorytety strategiczne w modernizacji gospodarki Ukrainy w okresie pokryzysowym
Autorzy:
Fedirko, Alex
Powiązania:
https://bibliotekanauki.pl/articles/548503.pdf
Data publikacji:
2012
Wydawca:
Uniwersytet Rzeszowski. Wydawnictwo Uniwersytetu Rzeszowskiego
Tematy:
economic development
Ukraine
MODERNIZATION
financial crisis
Opis:
The article is a continuation of the author’s research, “Compensation model of economic growth of Ukraine”, published in the monograph “Convergence of Economic Models of Poland and Ukraine” (Krakow, 2009). The article explores trends of the economic development of Ukraine in the time of global economic and financial crisis (2008–2011). The influence of the crisis is regarded as a possibility to unveil the weaknesses of national economic system. Author argues that short-term economic recovery of Ukraine in 2010 is built on very uncertain drivers. Therefore economic policies need to be revised. Author comprehends a number of key drawbacks in order to work out strategic priorities of modernization of Ukrainian economy in after-crisis period.
Artykuł stanowi kontynuację badań autora „Model kompensacji wzrostu gospodarczego Ukrainy”, które zostały opublikowane w monografii „Konwergencja modeli ekonomicznych. Polska i Ukraina” (Kraków, 2009). W artykule podjęto badania nad trendami rozwoju gospodarczego Ukrainy w czasie globalnego, ekonomiczno-finansowego kryzysu (2008–2011). Oddziaływanie kryzysu uznawane jest za czynnik odsłaniający słabości narodowego systemu ekonomicznego. Autor dowodzi, że krótkookresowa poprawa sytuacji gospodarczej Ukrainy w 2010 r. oparta jest na bardzo niepewnych podstawach. Stąd polityka gospodarcza powinna zostać zrewidowana. Autor wskazuje na liczne kluczowe bariery w celu wypracowania strategicznych priorytetów modernizacji gospodarki Ukrainy w okresie pokryzysowym.
Źródło:
Nierówności Społeczne a Wzrost Gospodarczy; 2012, 26; 136-146
1898-5084
2658-0780
Pojawia się w:
Nierówności Społeczne a Wzrost Gospodarczy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Portfolio investment in the twenty first century – a literature review and analysis of flow directions
Autorzy:
Broszkiewicz, Magdalena
Powiązania:
https://bibliotekanauki.pl/articles/570076.pdf
Data publikacji:
2017
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
portfolio investment
capital flows
financial crisis
Opis:
The subject of portfolio investment seems particularly significant given that the current fluctuations on international financial markets make it necessary to perform an analysis of their causes and effects. It seems reasonable to make considerations regarding the direction of the flow of portfolio investment in the twentieth and twenty-first century. This article presents theoretical considerations concerning the characteristics and effects of the flow of portfolio investment in the global economy and an analysis of flow directions in the years 1960-2015. These considerations are based on data of the International Monetary Fund and the World Bank, which collate net inflows of the portfolio investment to particular countries in the indicated period. Our considerations show the links between the financial markets of countries and regions, together with the general tendencies of movements of capital at the time of crisis and the stabilization periods of global financial markets. The article shows the link between the financial markets of individual countries, together with the general trend of movement of capital in the period of crisis and the stabilization of financial markets
Źródło:
Ekonomia XXI Wieku; 2017, 2 (14); 24-38
2353-8929
Pojawia się w:
Ekonomia XXI Wieku
Dostawca treści:
Biblioteka Nauki
Artykuł

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