Financial Systems and Economic Growth: Evidence from Poland and Ukraine

• Autorzy: Miroslaw Wasilewski , Olena Olinynyk , Victor Adamenko

Warianty tytułu

Systemy finansowe i wzrost gospodarczy: dowody z Polski i Ukrainy

• Języki publikacji: EN

Abstrakty

EN

We have produced simplified models of an integral indicator of the level of financial system development and economic growth. We used the models of an integral indicator to compare the level of the development of the financial system and economic growth in Poland and Ukraine. We used integral indicators to evaluate whether the financial system influences economic growth in Poland and Ukraine. We may state that the relationship between the development of a financial system and economic growth in Poland and Ukraine generally has the same character, despite some individual differences. In Ukraine the effects of the financial system development on economic growth is more significant than in Poland. In contrast to Poland, the development of the financial system in Ukraine is still far from that level, after which it becomes unfavourable for economic growth. (original abstract)

W artykule przedstawiono zbudowane uproszczone modele integralnego wskaźnika poziomu rozwoju systemu finansowego i wzrostu gospodarczego. Wskazano użycie modeli wskaźnika integralnego, który pozwala porównać poziom rozwoju systemu finansowego i wzrostu gospodarczego w Polsce i na Ukrainie. Przy użyciu integralnych wskaźników oceniono czy system finansowy wpływa na wzrost gospodarczy w Polsce i na Ukrainie. Na ich podstawie można stwierdzić, że związek między rozwojem systemu finansowego i wzrostu gospodarczego w Polsce i na Ukrainie na ogół ma taki sam charakter. Mimo pewnych różnic indywidualnych na Ukrainie skutki rozwoju systemu finansowego na wzrost gospodarczy mają bardziej znaczący wpływ niż w Polsce. (abstrakt oryginalny)

Słowa kluczowe

EN

Financial system; Economic growth

PL

System finansowy; Wzrost gospodarczy

• Czasopismo: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia
• Rocznik: 2015
• Numer: nr 74 T.2 Mierzenie i ocena wyników przedsiębiorstw
• Strony: 559--573

Twórcy

autor

Miroslaw Wasilewski

• Warsaw University Life Sciences - SGGW, Poland

autor

Olena Olinynyk

• National University of Life and Environmental Sciences of Ukraine

autor

Victor Adamenko

• Kyiv National University of Trade and Economics

Bibliografia

• Beck T., Demirguc-kunt A., Levine R., Maksimovic V. (2000), Financial Structure and Economic Development: Firm, Industry and Country Evidence, World Bank.
• Goldsmith R.W. (1969), Financial Structure and Development, New Haven, CT: Yale University Press.
• La Porta R., Lopez-de-Silanes F., Shleifer A., Vishny W. (1998), Law and Finance, "Journal of Political Economy" Vol. 106, pp. 1113-1155.
• Levine R. (2002), Bank-based or market-based financial systems: which is better?, Working Paper No 9138. Cambridge, MA: NBER.
• Levine R. (2005), Finance and Growth: Theory, Evidence, and Mechanisms. The Handbook of Economic Growth / R. Levine, P. Aghion, S. Durlauf, Amsterdam: North Holland, 870 p.
• Levine R., Zervos S. (1998). Stock markets, banks and economic growth, American Economic Review.
• Levine R., Loayza N., Beck T. (2000), Financial Intermediation and Growth: Causality and Causes, Journal of Monetary Economics 46, pp. 31-77.
• Oliynyk O., Adamenko V., Oliinyk L. (2015), The Comparative Analysis of Financial System of Czech Republic, Poland and Ukraine, Proceedings of the International Conference 2015: the International Conference on Enterprise and the Competitive Environment, March 5-6, 2015, Brno, Czech Republic. Brno: Mendel University in Brno.
• Rajan R., Zingales L. (2003), Banks and markets: the changing character of European finance, The transformation of the European financial system, Eds. In: V. Gaspar, P. Hartmann, O. Sleijpen. European Central Bank, Frankfurt.
• Schmidt R., Hryckiewicz A. (2006), Financial systems - importance, differences and convergence, Working Paper Series No. 4, Institute for Monetary and Financial Stability, Johann Wolfgang Goethe-Universität, Frankfurt am Main.
• Solow R. (1956), A Contribution to the Theory of Economic Growth, Quarterly Journal of Economics, pp. 65-94.
• Stern N. (1989), The Economics of Development: A Survey, Economic Journal, pp. 597-685.
• The Central Bank of the Russian Federation (CBRF) (2015): Statistic, Banking sector, www.cbr.ru/eng/ statistics/?PrtId=sors, The Central Bank of the Russian Federation, Moscow, Russian Federation.
• The European Central Bank (ECB) (2015): MFI balance sheets, http://sdw.ecb.europa.eu/reports.do?node= 1000003159, The European Central Bank, Frankfurt, Germany.
• The Federal Reserve System (FRS) (2015): Statistical Releases and Historical Data, www.federalreserve.gov/releases/ h8/default.htm, The Federal Reserve System, Washington D.C.
• The National Bank of Ukraine (NBU) (2015): Bulletin of the National Bank of Ukraine, http://bank.gov.ua/control/ en/publish/category?cat_id=66894, The National Bank of Ukraine, Kyiv, Ukraine.
• The World Bank (2015a): World DataBank. Indicators. http://data.worldbank.org/indicator, The World Bank, Washington DC.
• The World Bank (2015b): World Development Indicators. http://databank.worldbank.org/data/views/variableselection/ selectvariables.aspx?source=world-development-indicators

Identyfikatory

DOI

10.18276/frfu.2015.74/2-49