Wpływ zmian płynności sektora bankowego na sferę realną gospodarki polskiej
Effect of changes in the liquidity of the banking sector on the real sector of the Polish economy

Summary/Abstract: Variables and economic relations behave differently depending on the state of the economy. In the case of parameter instability, their variability should be taken into account in the theoretical models. The observed two-way relationships between the variables of the financial market and the real economy are not fixed. Especially during economic crisis reflected fluctuations in the financial market can strongly destabilize the real economy. The main objective of the study was to identify structural changes, both visible on the financial markets and in the real economy and in the relations between them. The conclusions of the estimated MS-VAR model confirm that in the period 1995–2012 in the Polish banking sector experienced structural changes which had an impact on changes in the real economy of Poland.

• Details
• Contents