scholarly journals Challenges for Policy mix in the Context of the Financial Crisis – the Case of Poland

2014 ◽  
Vol 1 (4) ◽  
pp. 137-150
Author(s):  
Joanna Stawska ◽  
Lena Grzesiak
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Policy Mix ◽  
Recent Financial Crisis

The aim of this article is to present the essence of policy mix and the extraordinary actions undertaken by the monetary and fiscal authorities in Poland in response to the recent financial crisis. In the article, the hypothesis has been put forward that the challenges faced by monetary and fiscal authorities have contributed to carrying out coordinated actions, especially in support of economic growth during the recent financial crisis. As a result, in Poland during the last financial crisis, it seemed to observe greater cooperation between monetary and fiscal authorities.

IMPROVING MANAGING THE CREDIT RISK IN CONDITIONS SLOWING ECONOMIC GROWTH

2015 ◽  
Vol 1 (1) ◽  
pp. 17-29
Author(s):  
Dariusz Prokopowicz
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Credit Risk ◽  
Economic Downturn ◽  
Financial Systems ◽  
Financial Products ◽  
Increased Risk ◽  
Business Entities ◽  
Recent Financial Crisis ◽  
Lending Institutions

The recent financial crisis in 2008 has made a significant contribution to the growing importance of the analysis of processes of credit risk management and forced to take measures to improve the process. Sources of the financial crisis is now largely associated with the activities of mainly US investment banks that sold derivatives on the basis of income from high-risk mortgages. Increased risk recorded in the banking business, as a rule, also a derivative of the economic downturn in the sectors of bank customers, including non-financial business entities. In such a situation, banks are limited to provide customers with a more risky loan pro-active financial products. Given the global nature of financial markets and the importance of investment banking in the financial systems and the necessary actions to improve the tools for identifying, quantifying and managing banking risks, especially credit and lending institutions to protect themselves from potential sources of risk. The present analysis showed that the anti-crisis measures are mainly focused on the introduction of additional restrictions in the provision of financial products that may not be enough and may even be harmful, helping to reduce the economic growth of individual countries. Measures are also needed to strengthen supervisory agencies in the financial systems, including transnational supervision.

scholarly journals THE IMPACT OF THE MONETARY - FISCAL POLICY MIX ON INVESTMENTS OF EURO AREA COUNTRIES IN THE CONTEXT OF THE FINANCIAL CRISIS

2012 ◽  
Vol 8 (1) ◽  
pp. 228-236
Author(s):  
Joanna Stawska
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Interest Rates ◽  
Euro Area ◽  
Debt Crisis ◽  
Policy Mix ◽  
Monetary Authorities ◽  
Recent Financial Crisis ◽  
The Impact

The study presents the impact of monetary-fiscal policy mix on economic growth, mainly for the investments of euro area in financial crisis. Fiscal policy and monetary policy play an important role in the economy, influencing each other and on a number of economic variables as well. In the face of the recent financial crisis, which turned into a debt crisis, fiscal and monetary authorities have been working together to revive economic activity. There was a significant economic impact on the level of government investments. The central bank kept interest rates at very low levels and used nonstandard instruments of monetary policy. Fiscal authorities have increased government spending to stimulate investment and economic recovery. The paper concludes that the management of the fiscal and monetary authorities in a crisis situation has been modified compared to the period before the crisis, when the coordination of these policies was clearly weaker.

The coming of East and South-East Asian welfare states

2000 ◽  
Vol 10 (2) ◽  
pp. 162-184 ◽  
Author(s):  
Sven Olsson Hort ◽  
Stein Kuhnle
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Social Insurance ◽  
Social Protection ◽  
East Asian ◽  
Welfare States ◽  
Asian Countries ◽  
Rapid Economic Growth ◽  
State Welfare ◽  
Recent Financial Crisis

It has long been assumed among Western commentators that rapid economic growth in East and South-east Asia has been achieved without the development of social policies. It has often been inferred that growth without social welfare is not only possible, but beneficial to further strong economic growth. The article questions these perceptions and beliefs. First, to what extent did East and South-east Asian countries delay the introduction of social insurance schemes compared to European pioneering countries, in the sense of introducing them only at a much higher level of 'modernization'? Second, to what extent was the economic miracle achieved by some of these countries based on (or accompanied by) attempts to forestall or retrench welfare state schemes? Third, to what extent has the recent financial crisis led to attempts at lowering or changing standards of social protection? The study shows that the Asian countries generally introduced social security programmes at a lower level of 'modernization' than Western European countries; that rapid and strong economic growth in the decade 1985–95 has in general been accompanied by welfare expansion; and that even after the financial crisis of 1997, expansion of state welfare responsibility is more evident than efforts to reduce or dismantle state welfare responsibility]

scholarly journals The Relationship Between Corporate Tax Rate and Economic Growth During the Global Financial Crisis: Evidence from a Panel VAR

2019 ◽  
Vol 8 (2) ◽  
pp. 189-202
Author(s):  
Gamze Öz Yalaman
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Panel Var ◽  
Corporate Tax ◽  
Causality Test ◽  
Tax Rate ◽  
Crisis Period ◽  
Dynamic Relationship ◽  
Recent Financial Crisis

This paper compares dynamic relationship between economic growth and corporate tax rate during the recent financial crisis and the non–crisis period using a panel VAR for 29 OECD countries over the period 1998-2016. The results show that corporate tax rate has a significantly negative effect on economic growth. Moreover, the recent financial crisis has had a significant effect on the endogenous interaction between corporate tax rate and economic growth. According to Granger causality test, there is only one-way causality from corporate tax rate to economic growth during the non-crisis period. Interestingly, there are not any causal relationships between corporate tax rate and economic growth during the crisis period. The results show that the recent crisis has had a significant effect on the endogenous interaction between corporate tax rate and economic growth.

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