BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

BazEkon home page

Meny główne

Cichorska Joanna (University of Economics in Katowice, Poland), Klimontowicz Monika (University of Economics in Katowice, Poland)
Financialisation as a Result of the Network Economy's Development
e-Finanse, 2016, vol. 12, nr 2, s. 1-12, rys., tab., bibliogr. s. 11-12
Słowa kluczowe
Sektor bankowy, Finansjeryzacja, Gospodarka sieciowa
Banking sector, Financialization, Network economy
In the last thirty years, the world's economies have changed significantly. New technology developments have enabled the transition from the industrial economy to the network economy. The network economy is based on information technology, connectivity and human knowledge. Its development has caused changes in the way of life, consumer behaviour on the markets and companies' business models, especially the process of goods and services creation and distribution. Electronic commerce and services have become one of the fastest developing fields of the economy. As a result, the role of government has diminished while the role of markets has increased economic transactions between countries and their citizens have substantially risen, and financial transactions have grown remarkably. This changing landscape has been characterised by globalization and financialisation. The increasing role of financial motives, financial markets, and financial institutions have influenced domestic and international transactions. A new category of finance called e-finance has been created and implemented. Despite the advantages of electronic finance networks, concurrently there are some disadvantages of their diffusion. The purpose of the paper is to present both aspects of financialisation and its influence on the financial and banking system. This purpose determines the structure of the paper. As financialisation is a relatively new term the first section of the paper focuses on defining its phenomenon. This part presents different authors' perspectives and definitions. Next, the influence of financialisation on the Polish financial system's quantitative and qualitative structure is discussed. The last section focuses on the current role and functions of banks in the finance system network structure as a result of a rapidly changing technological environment. (original abstract)
Pełny tekst
  1. Barbosa-Filho, N. (2005). International Liquidity and Growth Fluctuations in Brazil. In G. Epstein (Ed.), Financialisation and The World Economy (314-333). Cheltenham: Edward Elgar Publishing.
  2. Carrol, T., Jarvis, D.S.L. (2014). Introduction: Financialisation and Development in Asia Under Late Capitalism. Asian Studies Review (38)4, 533-543.
  3. Cichorska, J. (2015). Responsibility of Systemically Important Institutions for Financial Market Stability. In G. Hoftiauer (Ed.), Challenges, Research and Perspectives. Herausforderungen, Forschung Und Perspektiven (257-266). Berlin European Research and Working Group, EuropaischeForschungs- und Arbeitsgruppe, uni- edition GmbH.
  4. Dembinski, P.H. (2011). Finanse po zawale. Warszawa: Studio Emka, 19-20.
  5. Dolphin, T. (2012). Don't Bank On It. The Financialisation of UK Economy. Report of Institute for Public Policy Research. London.
  6. Epstein, G. (2005). Introduction: Financialisation and the World Economy. In G. Epstein (Ed.), Financialisation and the World Economy (3-16). Cheltenham: Edward Elgar Publishing.
  7. Flassbeck, H. (2012). Don't Blame The Physical Markets: Financialisation Is The Root Cause of Oil And Commodity Price Volatility. Paper presented at United Nations Conference on Trade and Development UNCTAD 2012.
  8. Freeman, R. (2010) It's Financialisation! International Labour Review 149 (2), 163-183.
  9. Froud, J., Johal, S., Leaver, A., Williams, K. (2006). Financialisation and Strategy: Narrative and Numbers. London: Routledge.
  10. Froud, J., Johal, S., Williams, K. (2002). Financialisation and the Coupon Pool. Capital and Class 78(1), 119-51.
  11. Gleadle, P., Cornelius, N. (2008). A Case Study of Financialisation and EVA. Critical Perspectives on Accounting, 19, 12191238.
  12. Gostomski, E. (2014). Finansyzacja w gospodarce mświatowej. International Business and Global Economy no. 33, 299311.
  13. Gunnoe, A., Gellert, A., Geller, P. (2010). Financialisation, Shareholder Value, and the Transformation of Timberland Ownership in the USA. Critical Sociology, 37(2), 1-24.
  14. GUS, Mały rocznik statystyczny Polski 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014. Retrieved from:http://
  15. Hilferding, R. (1981). Finance Capital. London: Routledge & Kegan Paul.
  16. Johal, S., Leaver, A. (2007). Is the Stock Market a Disciplinary Institution? French Giant Firms and Theregime of Accumulation. New Political Economy, 12(3), 349-368.
  17. Klimontowicz, M. (2015). Knowledge Flows and Banks' Resilience: The Case of Poland, Proceedings of the 16th European Conference on Knowledge Management Italy: University of Udine, 432-441.
  18. Kozak, S. (2013). 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. NBP Working Paper No. 166, 16- 36.
  19. Księżyk, M. (2013). Źródła i ekonomiczne skutki kryzysów finansowych. Nierówności Społeczne a Wzrost Gospodarczy, 30, 5.
  20. Mc Grane, V., Sterngold, J., Dendrinou, V. (2014). Too-big-to-Fail. Rule Would Raise Bar for Bank Capital, Proposal Calls for Largest Lenders to Expand Funding Cushions, The Wall Street Journal. Retrieved from: articles/too-big-to-fail-rule-would-raise-bar-for-bank-capital-1415664537.
  21. Merton, R.C. (1993). Operation and Regulation in Financial Intermediation: A Functional Perspective. In P. Englund (Ed.), Operation and Regulation of Financial Markets (17-67). Stockholm: Ekonomiskarádet (Sweden).
  22. Montgomerie, J. (2008). Bridging the Critical Divide: Global Finance, Financialisation and Contemporary Capitalism. Contemporary Politics, (14)3, 233-252.
  23. National Bank of Poland (2014). Rozwój systemu finansowego w Polsce w 2013 r. Warszawa, 25- 28.
  24. National Bank of Poland (2015). Ocena funkcjonowania polskiego systemu płatniczego w I półroczu 2015 r., Warszawa, 69.
  25. O'Connell, A. (2005). The Recent Crisis - and Recovery - of the Argentine Economy: Some Elements and Background. In G. Epstein (Ed.), Financialisation and the World Economy (289-313). Cheltenham: Edward Elgar Publishing.
  26. Palley, T. (2007). Financialisation: What It Is and Why It Matters. The Levy Economics Institute and Economics for Democratic and Open Societies Working Paper no 52. New York: Levy Economics Institute, Washington, D.C.
  27. Paszkowski, M. (2008). Kształtująca się gospodarka sieciowa jako pole badawcze geografii przemysłu. In: Z. Zioło, T. Rachwał (Ed.), Problematyka badawcza geografii przemysłu. Prace Komisji Geografii Przemysłu PTG Nr 11. Warszawa-Kraków.
  28. Peer, R. (2011). Contradiction to Capitalism. Monthly Review. An Independent Socialist Magazine. Volume 63. Issue 07. Retrieved from:
  29. Polish Bank Association (2014). Polityka kredytowa w Polsce i UE, Warsaw, 7.
  30. Polish Bank Association (2014). Raport NetB@nk, Warsaw, 3-7.
  31. Polish Financial Supervision Authority (2014). Report On the Condition of Polish Banks in 2013, Warsaw, 21-22.
  32. Ratajczak, M. (2009). Kryzys finansowy a rozwój ekonomii jako nauki. In W. Przybylska Kapuścińska (Ed.), Studia z bankowości centralnej i polityki pieniężnej, 19. Warszawa: Difin.
  33. Ratajczak, M. (2012). Finansyzacja gospodarki, Ekonomista nr 3, 282-283.
  34. Raviv, O. (2007). Central Europe in the EU Embrace. In: A. Nesvetailova, L. Assasi and D. Wigan, (Eds.), Global Finance in the New Century: Deregulation and Beyond. London: Palgrave MacMillian.
  35. Stockhammer, E. (2004). Financialisation And the Slowdown of Accumulation. Cambridge Journal of Economics, 28(5), 719-741.
  36. Strange, S. (1986). Casino Capitalism. London: Blackwell Publishers.
  37. Vitols, S. (2004). Negotiated Shareholder Value: the German Variant of an Anglo-American Practice. Competition and Change, 8(4), 357-374.^
Cytowane przez
URI / DOIХ_І2_2_001
Udostępnij na Facebooku Udostępnij na Twitterze Udostępnij na Google+ Udostępnij na Pinterest Udostępnij na LinkedIn Wyślij znajomemu