Template-Type: ReDIF-Article 1.0 Author-Name: Tetyana Marena Author-Workplace-Name: Mariupol State University, Mariupol, Ukraine Title: Poland’s financial sector development in terms of global financial transformations Publication-Status: Published 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. Keywords: global financial transformations; financial sector; financial market; international reserves; Poland Journal: Research Papers in Economics and Finance Pages: 7-16 Volume: 4 Issue: 3 Year: 2020 Month: December DOI: 10.18559/ref.2020.3.1 File-URL: https://journals.ue.poznan.pl/REF/article/view/107 File-Function: Abstract page File-Format: text/html File-URL: https://journals.ue.poznan.pl/REF/article/download/107/56 File-Function: Full text File-Format: application/pdf Handle: RePEc:jbl:ref000:v:4:y:2020:i:3:id:107 Template-Type: ReDIF-Article 1.0 Author-Name: Piotr Lis Author-Workplace-Name: Poznan University of Economics and Business Title: Preface Publication-Status: Published Abstract: Dear Readers, We are pleased to present the next issue of the Research Papers in Economics and Finance published by the Poznan University of Economics and Business. We have selected five papers from different parts of Europe. This issue opens with a great paper, which received very good reviews, written by Tetyana Marena from Mariupol State University in Ukraine, entitled “Poland’s financial sector development in terms of global financial transformations”. Research of individual countries by scientists from outside the country could be very cognitively valuable. While integrating into the global financial system, Poland will increasingly feel the impact of global transformations. The effects of these processes for Poland’s financial sector could appear in a loss of confidence and a decline in private consumption and investment due to increased financial uncertainty, increasing exchange rates and capital flows volatility. The second paper entitled “Global experience in providing social protection of population” has been written by two authors: Oleksandr Tregubov, Larysa Holovina from Vasyl’ Stus Donetsk National University and Donbass State Engineering Academy in Ukraine. In this paper the authors point out that the effective system of social protection of population is based on the efficient interaction and cooperation of state structures, business sector and involvement of public organisations. The main aims of social policy should be ensuring a stable standard of living, increasing the employment level, reducing income inequality, enhancing social protection and reducing poverty. The next paper “Basic income: economy and psychology” has been written by Larysa Hevlych, Ivan Hevlych and Natalia Dutova from Vasyl' Stus Donetsk National University in Ukraine. The authors argue that unconditional basic income is not only a humanistic idea, but also a practical tool for building a civilised society. The positive results include the involvement of people with disabilities in public life, the experience of creating a welfare state and greater confidence in the future. Furthermore, implementation of the idea of basic income may be a solution to the world’s problem of mass layoffs due to the robotic business processes. The fourth paper has been created by Selim Corekcioglu from Szent Istvan University in Hungary and concerns “Economic Freedom and FDI: Co-Integration Analysis”. This paper attempts to explain that Foreign Direct Investment and Economic Freedom were related in Turkey for the period between 1996-2018. The test result also showed that the variables are co-integrated, so they move together in the long run. Foreign direct investment inflows play an important role in solving investment problems arising from the domestic savings shortage. Last but not least, this issue of REF ends with a paper entitled “Polish zloty as an instrument to support the economy in the era of coronavirus” which has been written by Eryk Łon from the Poznan University of Economics and Business in Poland. This paper, apart from the analytical layer, contains a wide discussion and an expressive opinion of the author of the study. In particular, the analysis focuses on monetary sovereignty. This paper shows the positive role of the National Bank of Poland in counteracting the economic crisis caused by the coronavirus epidemic. According to the author, monetary authorities in Poland during the coronavirus epidemic managed to stop the decline in Gross Domestic Product and the rise in the unemployment rate.                   Yours faithfully,  dr hab. Piotr Lis, prof. UEP, Editor in Chief     Keywords: Preface; Research Papers in Economics and Finance; Poznan University of Economics and Business; Poland Journal: Research Papers in Economics and Finance Pages: 5-6 Volume: 4 Issue: 3 Year: 2020 Month: December DOI: 10.18559/ref.2020.3.0 File-URL: https://journals.ue.poznan.pl/REF/article/view/108 File-Function: Abstract page File-Format: text/html File-URL: https://journals.ue.poznan.pl/REF/article/download/108/57 File-Function: Full text File-Format: application/pdf Handle: RePEc:jbl:ref000:v:4:y:2020:i:3:id:108 Template-Type: ReDIF-Article 1.0 Author-Name: Oleksandr Tregubov Author-Workplace-Name: Vasyl’ Stus Donetsk National University, Vinnytsia, Ukraine Author-Name: Larysa Holovina Author-Workplace-Name: Donbass State Engineering Academy, Kramatorsk, Ukraine Title: Global experience in providing social protection of population Publication-Status: Published Abstract: The aim of the article is to analyse the experience of providing social protection of population in the countries with socially oriented market economies for further implementation in Ukraine and other countries, which are in need of the social welfare reform. The need for social protection of population has been proved. It is noted that the modern social protection system should include a set of social guarantees, forms, methods and instruments of social assistance. The state’s social expenditures in the countries that are members of the Organization for Economic Cooperation and Development are analysed. It is established that the social sphere of different countries is characterised by certain features of social welfare, which are caused by unequal level of state regulation and are reflected in relevant state policy. Basic models of social policy are described. The global experience of social welfare in the countries with socially oriented market economy is analysed. The main determinants of social protection of population in the world practice as well as measures, which contribute to the development of the social sphere are identified. Keywords: social protection; social welfare; world experience; socially oriented economy; Social Insurance Journal: Research Papers in Economics and Finance Pages: 17-25 Volume: 4 Issue: 3 Year: 2020 Month: December DOI: 10.18559/ref.2020.3.2 File-URL: https://journals.ue.poznan.pl/REF/article/view/109 File-Function: Abstract page File-Format: text/html File-URL: https://journals.ue.poznan.pl/REF/article/download/109/58 File-Function: Full text File-Format: application/pdf Handle: RePEc:jbl:ref000:v:4:y:2020:i:3:id:109 Template-Type: ReDIF-Article 1.0 Author-Name: Larysa Hevlych Author-Workplace-Name: Vasyl’ Stus Donetsk National University, Ukraine Author-Name: Ivan Hevlych Author-Workplace-Name: Vasyl' Stus Donetsk National University, Ukraine Author-Name: Natalia Dutova Author-Workplace-Name: Vasyl' Stus Donetsk National University, Ukraine Title: Basic income: economy and psychology Publication-Status: Published Abstract: Basic income is a social idea appealing to humanist philosophers and politicians. Numerous experiments on the introduction of the concept of basic income occurred in countries with varying degrees of economic development. Surveys are being conducted around the world on the need to introduce basic income. Dynamics of economic processes and social sentiment in individual countries require generalisation of modern factors influencing the possibility of practical implementation of the concept of basic income. This paper studies the economic and psychological factors for supporting the idea of basic income in terms of its practical implementation, analyses the interpretation of the UBI idea by various researchers and provides a characteristic of the modern vision of basic income. The arguments for and against the practical implementation of this idea with their structuring in the following directions are formed and considered: influence on the economy, change of social relations and possibility of practical realisation. The authors presentgeneralised results of the experiments on the introduction of basic income from the 1960s to the present day in South America, Africa, Europe, Asia, as well as the results of the poll and referendum on the introduction of basic income in Switzerland in 2016. Keywords: economics; psychology; basic income; unconditional income; economic and psychological factors Journal: Research Papers in Economics and Finance Pages: 27-35 Volume: 4 Issue: 3 Year: 2020 Month: December DOI: 10.18559/ref.2020.3.3 File-URL: https://journals.ue.poznan.pl/REF/article/view/110 File-Function: Abstract page File-Format: text/html File-URL: https://journals.ue.poznan.pl/REF/article/download/110/59 File-Function: Full text File-Format: application/pdf Handle: RePEc:jbl:ref000:v:4:y:2020:i:3:id:110 Template-Type: ReDIF-Article 1.0 Author-Name: Selim Corekcioglu Author-Workplace-Name: Szent Istvan University, Budapest, Hungary Title: Economic Freedom and FDI: Co-Integration Analysis Publication-Status: Published Abstract: These days, economic growth is very important for all countries and this article will discuss the main factors associated with this problem and propose some possible solutions which can be implemented. The importance and relationship of foreign direct investment, economic growth and economic freedom are presented and evaluated by considering literature, and a long run relationship between foreign direct investment and economic freedom in Turkey is empirically analysed in the article. The time period covers the years 1996 to 2018. The data has been obtained from the World Bank and from theHeritage Foundation database. The analysis is based on the time series analysis. An Augmented Dickey-Fuller test hasindicated that the variables are not stationary at levels, but they are stationary at the first difference. The Johansen test hasshown that variables are co-integrated, which means that they move together in the long run. Keywords: foreign direct investment;; time series;; economic freedom; Journal: Research Papers in Economics and Finance Pages: 37-45 Volume: 4 Issue: 3 Year: 2020 Month: December DOI: 10.18559/ref.2020.3.4 File-URL: https://journals.ue.poznan.pl/REF/article/view/98 File-Function: Abstract page File-Format: text/html File-URL: https://journals.ue.poznan.pl/REF/article/download/98/60 File-Function: Full text File-Format: application/pdf Handle: RePEc:jbl:ref000:v:4:y:2020:i:3:id:98 Template-Type: ReDIF-Article 1.0 Author-Name: Eryk Łon Author-Workplace-Name: Poznań University of Economics and Business, Poznań, Poland Title: Polish zloty as an instrument to support the economy in the era of coronavirus Publication-Status: Published Abstract: The article presents arguments in favour of maintaining monetary sovereignty by Poland. The author expresses the view that having Poland's own currency and its own national monetary policy helps to alleviate crisis phenomena in the economy. The article shows the positive role of the NBP in counteracting the economic crisis caused by the coronavirus epidemic. The NBP lowered interest rates to the lowest level in history and purchased debt securities. The Polish monetary and budgetary authorities managed to stop the decline in GDP and the rise in the unemployment rate. Moreover, the easing monetary policy of the NBP prevented excessive strengthening of the domestic currency against foreign currencies. As a result, the exchange rate was favourable for domestic exports. Keywords: interest rates; central banks; monetary policy; debt securities; Poland Journal: Research Papers in Economics and Finance Pages: 47-51 Volume: 4 Issue: 3 Year: 2020 Month: December DOI: 10.18559/ref.2020.3.5 File-URL: https://journals.ue.poznan.pl/REF/article/view/111 File-Function: Abstract page File-Format: text/html File-URL: https://journals.ue.poznan.pl/REF/article/download/111/61 File-Function: Full text File-Format: application/pdf Handle: RePEc:jbl:ref000:v:4:y:2020:i:3:id:111