In the last thirty years, the world's economies have changed signifi cantly. New technology developments have enabled the transi� on from the industrial economy to the network economy. The network economy is based on informa� on technology, connec� vity 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 crea� on and distribu� on. Electronic commerce and services have become one of the fastest developing fi elds of the economy. As a result, the role of government has diminished while the role of markets has increased economic transac� ons between countries and their ci� zens have substan� ally risen, and fi nancial transac-� ons have grown remarkably. This changing landscape has been characterised by globaliza� on and fi nancialisa� on. The increasing role of fi nancial mo� ves, fi nancial markets, and fi nancial ins� tu� ons have infl uenced domes� c and interna� onal transac� ons. A new category of fi nance called e-fi nance has been created and implemented. Despite the advantages of electronic fi nance networks, concurrently there are some disadvantages of their diff usion. The purpose of the paper is to present both aspects of fi nancialisa� on and its infl uence on the fi nancial and banking system. This purpose determines the structure of the paper. As fi nancialisa� on is a rela� vely new term the fi rst sec� on of the paper focuses on defi ning its phenomenon. This part presents diff erent authors' perspec� ves and defi ni� ons. Next, the infl uence of fi nancialisa� on on the Polish fi nancial system's quan� ta� ve and qualita� ve structure is discussed. The last sec� on focuses on the current role and func� ons of banks in the fi nance system network structure as a result of a rapidly changing technological environment.

The purpose of the article. The article aims to evaluation which factors are a barrier to financial inclusion in the Next 11 countries. The research aim of this article is to assess the differences in the degree of financial inclusion of business entities from the Next 11 group of countries by taking into consideration the use of basic banking services such as bank accounts, credit lines and loans. The hypothesis of the article. The authors put forward the hypothesis that in poorly developed countries, to which the Next 11 countries belong, there are considerable areas of financial exclusion among businesses, in particular among small and medium-sized enterprises. In most of these countries, corporate financial inclusion rates are below the global average. Methodology. The article applies the following research methods: a critical analysis of the literature in the theoretical part; and desk research analysis (that is analysis of data gathered) in the empirical part. Research into the degree of financial inclusion in Next 11 countries was conducted on the basis of indicators of the use of banking services by enterprises operating in Next 11 countries. Results of the research. The level of companies’ financial inclusion depends above all on the degree to which they make use of bank accounts and bank loans. Countries in different geographical locations vary in terms of economic and technological development and social awareness, which impacts on their participation in the use of banking services. Analysis of the basic indicators of banking services availability showed that there is a widespread problem of financial exclusion for companies in Next 11 countries. The proportion of companies possessing a current bank account was below the average of all countries worldwide. However, the worst situation exists in the field of financing business activity using foreign capital. Credit lines there are used on average by less than 25% of companies. However, Next 11 group countries do not see the lack of available credit lines as the main barrier to development.

The purpose of the article/hypothesis: The main objective of the article is to examine the impact of the Covid-19 pandemic on the value of bank deposits of monetary financial institutions (MFIs) in the V4 countries, i.e. the Czech Republic, Poland, Slovakia and Hungary. The specific objective of this study is to investigate the situation in the market of bank deposits in the Visegrad Group countries during the Covid-19 pandemic. In relation to the adopted goals, the hypothesis was formulated that the Covid-19 pandemic determines the amount of money invested by households from bank deposits in the V4 group, but the determinants of this saving and the direction and strength of their impact are varied. Methodology: The achievement of the set objectives was based on theoretical studies and empirical research. In the theoretical studies a critical analysis of source literature was applied. Empirical research involved time series analysis and multiple linear regression analysis. Results of the research:The results of the study allowed for positive verification of the hypothesis, and the study objectives were achieved. It has been shown that changes in the number of Covid-19 cases, as well as changes in the number of deaths and the number of vaccinations performed for Covid-19 in individual V4 countries translate into the propensity or aversion to deposit money in bank financial institutions. This is confirmed primarily by regression analysis, but also by time series analysis.

Słowa klucze: inwestycje alternatywne, rynek sztuki, Art BankingKeywords: alternative investment, art market, Art Banking Kod JEL: G11, G12 WstępPrzedłużający się kryzys gospodarczy przyczynił się do zmian sposobów inwestowania zarówno w obszarze oferty instrumentów, jak i strategii podejmowania decyzji inwestycyjnych. W pierwszej fazie kryzysu inwestorzy kierowali swoje zainteresowanie w stronę rynku derywatów, upatrując w nim okazji do spekulacji i generowania dochodów nawet w fazie spadków cen. W miarę narastania ryzyka finansowego, zaczęli poszukiwać jednak klasycznych, kasowych form inwestowania, w tym również na rynkach niefinansowych. Agresywną spekulację zastąpiła coraz większa dbałość o ograniczanie ryzyka oraz skłonność do wykorzystywania długoterminowych lokat kapitału zapewniających wysoki poziom bezpieczeństwa [Frączek, 2010, s. 223].Wśród inwestorów popularność zdobyło tzw. shelter assets management, czyli tworzenie portfeli inwestycyjnych z przewagą instrumentów bezpiecznych. Do grupy aktywów bezpiecznych z pewnością można zaliczyć dobra rzeczowe mające wartość nie tylko jako narzędzia spekulacji, ale również jako przedmioty użytkowe, często Pobrane z czasopisma Annales H -Oeconomia http://oeconomia.annales.umcs.pl