Download or read book The Process of Development and Adjustment Process of the Polish Banking Sector to the European Integration and Competition on the Global Financial Market written by Killion Munzele Munyama and published by . This book was released on 2008 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Upon accession to the European Union in 2004 Poland was considered quot;the Tiger of Europequot; in the development process. This included the development of the financial sector - the banking sector in particular. However, there has been need for a complete adaption of the Polish banking sector to the process of European integration. The paper examines the adjustment process in the banking sector of an economy arising from a weak financial base to a country where most banking activities are currently conducted in Central and Eastern European Countries (CEECs). The paper scrutinizes the evolution of the Polish banking system since 1989. It also presents the consecutive stages and the factors determining the process of development and adjustment of the Polish banking sector to the European integration and competition on the global financial market.
Download or read book Foreign Capital in the Structural Transformation of the Polish Banking Sector During the Global Crisis written by Ewa Kulinska-Sadlocha and published by . This book was released on 2013 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Polish banking sector, in contrast to other major European Union countries, has been for many years dominated by banks either controlled by foreign capital or owned by a foreign credit institution. Such a situation is mainly a consequence of the privatization policy that was due to the transformation process of the Polish economy that began after the fall of communism in 1989. At the beginning of the reforms in the early 1990s, the greatest obstacle to the banking system market construction was the lack of domestic capital, as well as the right knowledge of banking.The purpose of the paper is to define the role of foreign capital in the structural transformation of the Polish banking sector during the global crisis. The analysis is based on data published by the Financial Supervision Commission (KNF), the Polish National Bank (NBP), the European Central Bank (ECB) and the information included in the National Court Register.In view of the origin of certain strategic investors -- especially from countries with large economic problems (Italy, Greece, Spain, Portugal) and the continuing difficulties many foreign strategic investors should expect further consolidation, which will reflect the mergers and acquisitions in the global financial market.
Download or read book The Transformation of the European Financial System written by Vitor Gaspar and published by . This book was released on 2003-01-01 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding the Polish Capital Market written by Marek Dietl and published by Taylor & Francis. This book was released on 2022-12-30 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first stock exchange in Warsaw – capital city of the Kingdom of Poland– was established in 1817. Over the past 205 years, the fortunes of the capital market have been closely linked to the "bumpy road" of Polish history. The establishment of the GPW Warsaw Stock Exchange in 1991 was a landmark for transformation from a centrally planned communist economy to a market-driven capitalist one. Since the doors of the exchange reopened, Polish GDP per capita (current USD) increased eight times, translating into an average yearly growth rate of over 7%. The capital market has played a pivotal role in the economic success of Poland over the last three decades. It is not easy to precisely quantify the impact, as it was rather a spill-over effect. Economic growth has fostered the development of a capital market, and more efficient conversion of savings to investments via the capital market. The excellence of capital market institutions can be gauged with reference to various parameters. A synthetic measure is so-called market status. According to FTSE Russell (global index provider), Polish capital attained developed market status in 2018, being the first and only post-communist state to do so. It is fair to say that transformation has been completed and developed market status indicates clearly that the institutions and regulations are world class. The current challenge is competing with other developed markets for the best issuers and offering the most demanding investors an excellent trading experience. This book offers scientific insight into the Polish capital market story. Authored by a group of renowned scholars, with contributions aspiring to the highest academic standards for theoretical considerations and empirical research. The book covers various topics, including links between monetary policy and capital markets, micro and macro market structures, and investors and issuers' behaviour and strategies. All chapters are rooted in contemporary finance theory, supported by various econometric models based on the most recently available data. The book aims to provide academics and practitioners insight into the Polish capital market, appealing especially to those interested in gaining a deeper understanding of emerging markets' successful transformation into developed ones. It can also be used as supplementary reading for doctoral and master’s students in finance, particularly relating to capital markets and economics – predominantly development economics and economic policy.
Download or read book The Evolution of Banking Sectors in Central and Eastern Europe The Case of Poland written by Piotr Wiesiołek and published by . This book was released on 2015 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes in the Polish financial system were so rapid that some stages of financial development were skipped. At the beginning of the transformation process, banks' main balance sheet items were short-term loans and deposits. At the end of the 1990s, foreign investors started to rapidly increase their share of banking sector assets. And with the inflow of foreign capital came the transfer of technologies, know-how, and also business models from parent companies. These models were based on granting housing loans. As a consequence, it is households rather than enterprises that are now the most important customers for banks in the Central and Eastern European (CEE) countries. In fact, the share of household loans (mainly mortgage loans) in banking sector assets in the CEE countries is the highest among all EU countries. Banks financed their activities through a growing deposit base, later supplemented by loans from parent companies. The future of the Polish banking sector will depend on the evolution of the global financial system. Banks will probably start to rely more on traditional sources of financing and their portfolio of liquid assets will be greater than before the outbreak of the global financial crisis. As for the asset side of the balance sheet, housing loans are likely to continue to occupy the dominant position. The overwhelming demand for housing (in Poland, as in other CEE countries, the vast majority of residential property is owned, rather than rented), coupled with very low average income relative to the price per square metre, make it impossible for banks to do without long-term financing. Covered bonds are a possible source of such financing. It would be desirable to design and implement instruments which could change the current structure of banking sector assets (lower the share of household loans). The existing structure is clearly not conducive to the economy's international competitiveness. The question remains, however, as to how banks might be induced to steer their credit flows away from households and towards manufacturers.Full publication: "http://ssrn.com/abstract=2692232" What Do New Forms of Finance Mean for EM Central Banks?
Download or read book Financial System Development in Poland written by and published by . This book was released on 2007 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Role of the National Bank of Poland in the Process of European Integration written by National Bank of Poland and published by . This book was released on 2003 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Polish Banking System written by and published by . This book was released on 2010 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: Along with the rest of the economy and thanks to strict supervision, the Polish banking system is showing resilience and has avoided serious problems in 2009. Although Polish financial institutions were not involved in the purchase of "toxic" international assets, the high incidence of foreign ownership made them vulnerable to the outbreak of the global financial crisis, which has mostly affected Poland via the capital markets and the collapse of world trade. The first three quarters of 2009 were characterised by a decrease in confidence on the interbank market1, by a threefold jump in loan-loss provisions and write-downs compared to 2008 and by the outbreak of a fierce battle for household savings. Bank profits dropped to around 50% of 2008 results and the return on equity tumbled from 27.4% in June 2008 to 11.8% in September 2009. At the same time, while being exposed to the global downturn, regional uncertainties and declining asset quality, the Polish banking sector may still be considered to be a promising growth market. As much as 44% of Poles still do not own a bank account; over 1.3 million current accounts were opened in 2009 alone and more are expected to be opened in the next few years. Demand for credit remains surprisingly strong and most Polish banks entered the financial crisis with relatively healthy fundamentals.
Download or read book National Bank of Poland written by Mr. Piero Ugolini and published by International Monetary Fund. This book was released on 1996-11-04 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Poland was the first centrally planned economy in Eastern Europe to leave the Soviet bloc and introduce systemic reforms in all sectors of the economy. The transformation of the National Bank from a monobank to an institution of a market-based system and the Polish financial sector into a market-oriented banking system was an important element of the reform process and received strong support from the IMF and the international community. This paper describes the steps taken by the National Bank, analyzes the monetary situation, and makes recommendations.
Download or read book On Competition in the Banking Sector in Poland and Europe Before and During the Crisis written by Malgorzata Pawlowska and published by . This book was released on 2015 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past decades, the banking sector has come to be known in literature as the banking industry as it was geared to increasing profits, banks were growing, and banking products developed dynamically. It was believed that competition in the banking sector makes banks more efficient and stimulates financial innovation opening new markets. The financial crisis of 2007-2008 has sparked the interest of researchers and politicians in competition in the banking sector and its impact on the stability of the financial sector and overall economic growth. However, researchers cannot agree whether more competition improves or hinders stability. The paper is comprised of three sections and a summary. The first section discusses the concept of competition in the banking sector as well as measures of competition. The second section is a review of literature on competition in the banking sector and its determinants. The third section presents the results of research on competition in the EU, including my own research as well as other research. The paper concludes with a short summary.
Download or read book The Growth Report written by Commission on Growth and Development and published by World Bank Publications. This book was released on 2008-07-23 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Download or read book The Role of the National Bank of Poland in the Process of European Integration written by and published by . This book was released on 2003 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foreign Banks and the Vienna Initiative written by Mr.Ralph De Haas and published by International Monetary Fund. This book was released on 2012-05-01 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use data on 1,294 banks in Central and Eastern Europe to analyze how bank ownership and creditor coordination in the form of the Vienna Initiative affected credit growth during the 2008–09 crisis. As part of the Vienna Initiative western European banks signed country-specific commitment letters in which they pledged to maintain exposures and to support their subsidiaries in Central and Eastern Europe. We show that both domestic and foreign banks sharply curtailed credit during the crisis, but that foreign banks that participated in the Vienna Initiative were relatively stable lenders. We find no evidence of negative spillovers from countries where banks signed commitment letters to countries where they did not.
Download or read book Socio economic Aspects of Poland s Adjustment Towards the European Union Standards written by Bogumiła Mucha-Leszko and published by . This book was released on 1999 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Innovative Information and Communication Technologies in the Polish Banking Sector written by Jerzy Gwizdała and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: New information and communication technologies are incoming to every area of economic life. Also in financial sector effects of this process can be seen. The banks are the subject of technology evolution as well. Economic development, emergence and utilization of new technologies as a result of technical revolution leads to needs transformation of market process participants. Banking in Poland belongs to these economic sectors in which new technologies are introduced in the fastest way. Progress in the field of informatics application contributes to improvement of banks' organization, efficiency and effectivity. Improvement of informatics technology, Internet and telecommunication infra-structure development have created a new quality for banking customers. Currently informatics systems constitute an integral infrastructure component of each bank and consequently decide about bank's success or defeat.
Download or read book World Development Report 2009 written by World Bank and published by World Bank Publications. This book was released on 2008-11-04 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.
Download or read book Consolidation of the Banking Sector in Poland in 1989 2013 in Comparison with the Structural Changes of the Banking Sector in the USA and the EU written by Sylwester Kozak and published by . This book was released on 2013 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
