Effects of internationalization, privatisation and demutualization of the financial sector on supply of finance and stability

Alfred Janc and Pawel Marszalek
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Alfred Janc: The Poznan University of Economics, Department of Money and Banking
Pawel Marszalek: The Poznan University of Economics, Department of Money and Banking

Working papers from Financialisation, Economy, Society & Sustainable Development (FESSUD) Project

Abstract: The last fifty years brought along rapid changes in the conditions of functioning financial and monetary systems. They were connected, among others, with such factors as globalization and internationalization of the financial markets and institutions, liberalization and deregulation, disintermediation, demutualization, technological progress or, last but not least, financialization. Those processes have contributed to changes in creation and regulation of money, in functioning of financial intermediaries (as well as changes of those institutions themselves), processes and savings and investments, as well as to changes in ownership and structure of the domestic financial systems and economies. The aimof the paper is to characterize, also in the context of the Global Financial Crisis of 2007, features and consequences of three among mentioned processes, namely financial systems internationalization, demutualization of financial institutions and privatization of them, and to draw some insights on their potential influence on stability of financial systems and economic performance. First, we present internationalization processes and its different aspects. Then, we describe demutualization and its impact. After that we present survey of studies on privatization in the financial sector

Keywords: internationalization; privatisation; de-mutualization; financial sector; financialization (search for similar items in EconPapers)
JEL-codes: F62 G21 G28 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2015-09-01
New Economics Papers: this item is included in nep-cfn and nep-his
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