Behawioralne aspekty kryzysu finansowego

• Autorzy: Adam Szyszka
• Języki publikacji: PL

Abstrakty

W obliczu wyzwań, przed którymi stanął neoklasyczny paradygmat ekonomii, szczególnego znaczenia nabierają finanse behawioralne, oferujące alternatywny sposób postrzegania procesów zachodzących na rynkach kapitałowych. Odwołując się do psychologii i wskazując na ułomności ludzkiego umysłu, obnażają błędy popełnione zarówno przez inwestorów indywidualnych, jak też profesjonalnych. W czasie ostatniego kryzysu finansowego okazało się, że inklinacjom behawioralnym ulegli nie tylko inwestorzy, lecz także podmioty wspomagające rynek (np. agencje ratingowe) oraz instytucje odpowiedzialne za regulacje (np. banki centralne i nadzory finansowe poszczególnych krajów). W niniejszym artykule w pierwszej kolejności zaprezentowano kalendarium najważniejszych wydarzeń, w sposób pozwalający spojrzeć na sekwencję wypadków i narastanie symptomów kryzysu. Dalej omówiono pokrótce genezę problemu, zwłaszcza z punktu widzenia makroekonomii. W końcu uwaga koncentruje się na behawioralnych aspektach ostatnich turbulencji rynkowych oraz płynących stąd wnioskach i postulatach. (abstrakt oryginalny)

Słowa kluczowe

PL

Finanse behawioralne; Psychologiczne aspekty ekonomii; Rynek kapitałowy; Kryzys finansowy

EN

Behavioural finance; Psychological aspects of economics; Capital market; Financial crisis

• Czasopismo: Bank i Kredyt
• Rocznik: 2009
• Numer: nr 4
• Strony: 4--29

Twórcy

autor

Adam Szyszka

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