Determinanty procesów globalizacji kształtujące problemy bezpieczeństwa systemu bankowego w Polsce
The determinants of globalization processes that shape development and security problems of the banking system in Poland
Author(s): Sylwia Gwoździewicz, Dariusz ProkopowiczSubject(s): Sociology, Economic policy, Law on Economics
Published by: Akademia im. Jakuba z Paradyża
Keywords: globalization; banking system in Poland
Summary/Abstract: The development, transformation and restructuring of Polish banking is determined by the direct investment of foreign banking in Poland, the development of capital markets, the progressive integration of financial markets and the implementation of information and communication technologies into commercial banks. The social and economic determinants of these globalization processes also play an important role, including standards and standards transferred from Western European countries to Poland. The current financial system in Poland, including the banking sector, is considered to be almost fully aligned with the European Union standards, which also means a high level of globalization of this segment of the economy and the harmonization of security procedures. The main determinants of globalization processes in Poland include those direct investments undertaken by foreign corporations in Poland, including foreign banks taking over domestic banks. As part of these investments, the state‑financed foreign‑owned financial institution usually introduced the most up‑to‑date technological solutions and business standards developed in the previous, long‑term operation of the leading foreign company. Such investment processes, often linked also to privatization and restructuring of the operations of the acquired domestic entities in Poland, were also related to banking sector institutions. On the other hand, in the context of Poland’s accession to the European Union, the process of systematic adjustment of legal norms and banking safety procedures has been started up to Western European banking standards. The unification and integration processes in the financial sector were motivated by the need to standardize the procedural and technological standards of banking institutions, commercial banks and other financial institutions located in each European continent. The considerable scope of globalization in financial markets in Poland has been evident in the context of the recent financial crisis of 2008.
Journal: Studia Administracji i Bezpieczeństwa
- Issue Year: 1/2017
- Issue No: 3
- Page Range: 64-75
- Page Count: 12
- Language: Polish