This study aims to analyze the impact of the development and stability of the financial sector on economic growth on the basis of the quantitative methods that produce robust results. The following research hypotheses are tested: /H1/ The relationship between financial sector development (stability) and economic growth is nonlinear; /H2/ An excessively large size of the financial system does not lead to more rapid economic growth: it may even negatively affect GDP dynamics; /H3/ The inclusion of the post-crisis period gives new insights of the nature of the relationship between financial system and economic growth. The analysis covers the 28 EU and 34 OECD economies and the 1993-2013 period. The following variables are used to measure the financial sector: domestic credit provided by financial sector, bank nonperforming loans, bank capital to assets ratio, market capitalization of listed companies, turnover ratio of stocks traded, and the monetization ratio. A new element of the empirical analysis is the application of the extended econometric and economic modelling, including testing nonlinear relationships, analyzing both levels and changes of the financial variables, as well as estimating the models on the basis of a moving panel with overlapping observations. The regression equations are estimated by Blundell and Bond's GMM system estimator. Our results indicate that all the research hypotheses have been positively verified.
Objectives: This work investigates different cognitive aspects of job satisfaction (co-workers, supervisor, job content, working facilities, organization and management, opportunities for development, income), positive and negative affect at work and their relations to gender role orientation of women occupying managerial and non-managerial positions. Materials and methods: The sample of 122 women (60 managers and 62 non-managers) completed a battery of instruments such as: the Bem Sex Role Inventory, the Job Description Inventory by Neuberger and Allerbeck and the Job Affect Scale by Brief et al. Results:Most women managers represented androgynous and masculine types, while women non-managers belonged to androgynous and feminine types. Moreover, women with various degrees of sex-typing showed positive and negative affect at work. The most satisfied with income were masculine women managers, the least -feminine women non-managers. Conclusions: These results may be applied in designing of motivational instruments to enhance job effectiveness and to eliminate unproductive behaviours such as absenteeism, high staff turnover.
This article attempts to systematize the institutional and operational conditions of stability and security of the banking system. The intention of the authors is to analyse some factors strongly affecting the functions and principles of two members of modern banking systems - the central bank and commercial banks. The authors start the analyses by defining stability and security of the banking system. Then point out to the role of the various segments of the financial safety net in providing conditions for stable and secure system, and determine the necessary requirements of the stabilization as demanded from the banking institutions management system. In conclusion, they define the set of requirements (institutional and operational) necessary for achieving the stability and security of the banking system
Although important changes were introduced to the financial system after the recent financial crisis, there still is room for improvement in terms of stability and safety. The aim of the article is to describe those improvements, particularly in operations of central and commercial banks, and their influence on sustainable growth. The text lists systematic conditions of stability and safety of banking system and points out to the importance of trust in financial institutions, systematic risk, macroprudential policy and the need to coordinate macroprudential, microprudential and monetary policies
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