Financialisation as a result of the network economy\'s development
Journal Title: e-Finanse - Year 2016, Vol 12, Issue 2
Abstract
In the last thirty years, the world’s economies have changed significantly. New technology developments have enabled the transition from the industrial economy to the network economy. The network economy is based on information technology, connectivity 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 creation and distribution. Electronic commerce and services have become one of the fastest developing fields of the economy. As a result, the role of government has diminished while the role of markets has increased economic transactions between countries and their citizens have substantially risen, and financial transactions have grown remarkably. This changing landscape has been characterised by globalization and financialisation. The increasing role of financial motives, financial markets, and financial institutions have influenced domestic and international transactions. A new category of finance called e-finance has been created and implemented. Despite the advantages of electronic finance networks, concurrently there are some disadvantages of their diffusion. The purpose of the paper is to present both aspects of financialisation and its influence on the financial and banking system. This purpose determines the structure of the paper. As financialisation is a relatively new term the first section of the paper focuses on defining its phenomenon. This part presents different authors’ perspectives and definitions.
Authors and Affiliations
Joanna Cichorska, Monika Klimontowicz
Keywords
Related Articles
- EP ID EP322204
- DOI 10.14636/1734-039X_12_2_001
- Views 115
- Downloads 0
Financialization and commodity market stability
Stability in supply of commodities is essential for manufacturing and doing business. This fact is unchangeable despite the passage of time and only the ways of trading of commodities differ. Especially in recent decades...
AN ANALYSIS OF CODIFIED CORPORATE GOVERNANCE PRACTICES IN THE BANKING INDUSTRY: THE CASE STUDY OF BANGLADESH
Introducing a well-designed system of corporate governance is considered an effective tool to ensure the stability and resilience of a banking system. It was in 2006 when Bangladesh initiated its first corporate governan...
SIGNIFICANCE OF THE ACCOUNTING PARADIGM IN THE DECISION-MAKING PROCESS IN COMPANY MANAGEMENT (BASED ONIAS ACCOUNTING PRACTICES IN POLAND AND OTHER COUNTRIES)
In this article, we analyze the relations between modern trends in accounting and the decisionmaking process based on the classic profit-opportunity-cost-risk construction. In this aspect, four main types of accounting p...
ECONOMIC RELATIONS BETWEEN PERSONAL AND CORPORATE INCOME TAX
The main goal of this article is to discuss the mutual economic relations between personal and corporate income taxes. The article consists of three parts. The first is an introduction to these taxes and taxation. The se...
THE EFFECT OF AN ELECTRONIC EXCHANGE ON PRICES AND RETURN VOLATILITY IN THE FINE WINE MARKET
Fine wine has become an attractive alternative asset class in recent decades. In our study, we take the market microstructural perspective and verify how innovations in trading infrastructure affect the fine wine market....