Poland’s financial sector development in terms of global financial transformations

Authors

DOI:

https://doi.org/10.18559/ref.2020.3.1

Keywords:

global financial transformations, financial sector, financial market, international reserves, Poland

Abstract

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.

Downloads

Download data is not yet available.

References

Balling, M., Lierman, F. and Mullineux, A. (2004). Financial markets in Central and Eastern Europe: stability and efficiency. London: Routledge.
View in Google Scholar

Bank for International Settlements. Debt securities statistics. Retrieved from https://www.bis.org/statistics/secstats.htm?m=6%7C33%7C615
View in Google Scholar

Barunik, J., Vacha, L. (2013). Contagion among Central and Eastern European Stock Markets during the Financial Crisis. Finance a uvěr-Czech Journal of Economics and Finance, 63 (5), 443–453.
View in Google Scholar

Bukowski, M., Śniegocki, A., Wetmańska, Z. (2019). Sustainable finance in Poland. The state of play and prospects for progress. Warsaw: WiseEuropa – Warsaw Institute for Economic and European Studies. Retrieved from http://wise-europa.eu/wp-content/uploads/2019/11/Sustainable-Finance-in-Poland-1-1-1.pdf
View in Google Scholar

CEIC Data. Financial Market. Retrieved from https://www.ceicdata.com/en/indicators
View in Google Scholar

Cevik, N. K., Dibooglu, S. and Kutan, A. M. (2016). Real and financial sector studies in Central and Eastern Europe: a review. Journal of Economics and Finance, 66 (1), 2–31.
View in Google Scholar

Egert, B., Kočenda, E. (2011). Time-Varying Synchronization of the European Stock Markets. Empirical Economics, 40 (2), 393–407.
View in Google Scholar

Gardó, S. and Martin, R. (2010). The impact of the global economic and financial crisis on Central, Eastern and South-Eastern Europe: A stock-taking exercise. Frankfurt: European Central Bank.
View in Google Scholar

International Monetary Fund. (2019). Republic of Poland: Financial System Stability Assessment. Washington, D.C. Retrieved from https://www.imf.org/~/media/Files/Publications/CR/2019/cr1939.ashx
View in Google Scholar

International Monetary Fund. Financial Development Index. Retrieved from https://data.imf.org/?sk=F8032E80-B36C-43B1-AC26-493C5B1CD33B&sId=1483724754474
View in Google Scholar

International Monetary Fund. World Economic Outlook Database. Retrieved from https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/index.aspx
View in Google Scholar

Matousek, R. et al. (2010). Money, banking and financial markets in Central and Eastern Europe. London: Palgrave Macmillan.
View in Google Scholar

Narodowy Bank Polski. (2019). Financial Stability Report. Warsaw. Retrieved from https://www.nbp.pl/en/systemfinansowy/fsr201912.pdf
View in Google Scholar

Orylski, O. (2009). Central and Eastern European capital market's development possibilities. Economics & Sociology, 2 (2), 46–53.
View in Google Scholar

Redo, M. (2018). Comparison of external exposure of Central and Eastern-European states as a factor threatening financial security of their economies. Historia i Polityka, 24, 135–159.
View in Google Scholar

Silvestri, R. (2019). Unlocking the potential of capital markets in Central and Eastern European countries. CFA Institute Market Integrity Insights. Retrieved from https://blogs.cfainstitute.org/marketintegrity/2019/01/29/unlocking-the-potential-of-capital-markets-in-central-and-eastern-european-countries/
View in Google Scholar

The Global Economy. Business and economic data for 200 countries. Retrieved from https://www.theglobaleconomy.com
View in Google Scholar

UNCTADstat. Retrieved from https://unctadstat.unctad.org/EN/
View in Google Scholar

World Economic Forum (2008-2018). Global Competitiveness Reports. Retrieved from https://www.weforum.org/reports/
View in Google Scholar

Downloads

Published

2020-12-30

Issue

Section

Articles

How to Cite

Marena, T. . (2020). Poland’s financial sector development in terms of global financial transformations. Research Papers in Economics and Finance, 4(3), 7-16. https://doi.org/10.18559/ref.2020.3.1