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Transformation of the agricultural financial system in the age of globalisation

Author

Listed:
  • Anna BRZOZOWSKA

    (Czestochowa University of Technology, Czestochowa, Poland)

  • Dagmara BUBEL

    (Czestochowa University of Technology, Czestochowa, Poland)

  • Antonina KALINICHENKO

    (Opole University, Opole, Poland)

  • Larysa NEKRASENKO

    (Poltava State Agrarian Academy, Poltava, Ukraine)

Abstract

The paper is an attempt to address the advantages and risks connected with the wave of financial globalisation, with a focus on its impact on financial policy in European agriculture. The aim of the paper is to identify the basic conditions of the functioning and change of the financial system of agriculture under the conditions of the globalisation of financial markets. Financial globalisation, also referred to as financial integration or openness, is understood as an increase in global ties and interdependences caused by capital flows. Potentially, globalisation can bring a lot of benefits, which are manifested in an acceleration of economic growth and decreased fluctuation in consumption, which should further improve the level of overall prosperity. On the other hand, however, internationalisation of financial flows entails a range of threats, including the possibility of crisis.

Suggested Citation

  • Anna BRZOZOWSKA & Dagmara BUBEL & Antonina KALINICHENKO & Larysa NEKRASENKO, 2017. "Transformation of the agricultural financial system in the age of globalisation," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 63(12), pages 548-558.
    • Handle: RePEc:caa:jnlage:v:63:y:2017:i:12:id:155-2016-agricecon
    DOI: 10.17221/155/2016-AGRICECON
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    References listed on IDEAS

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    1. Christophe Gouel, 2012. "Agricultural Price Instability: A Survey Of Competing Explanations And Remedies," Journal of Economic Surveys, Wiley Blackwell, vol. 26(1), pages 129-156, February.
    2. Tomaso Duso, 2014. "Eine bessere Wettbewerbspolitik steigert das Produktivitätswachstum merklich," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 81(29), pages 687-697.
    3. Chao, Chi-Chur & Hu, Shih-Wen & Tai, Meng-Yi & Wang, Vey, 2011. "Monetary policy announcements and stock price dynamics in a small open economy," International Review of Economics & Finance, Elsevier, vol. 20(4), pages 520-531, October.
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    Cited by:

    1. Lina Novickyté, 2019. "Risk in agriculture: An overview of the theoretical insights and recent development trends during last decade - A review," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 65(9), pages 435-444.
    2. Marilen Gabriel Pirtea & Graţiela Georgiana Noja & Mirela Cristea & Mirela Panait, 2021. "Interplay between environmental, social and governance coordinates and the financial performance of agricultural companies," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 67(12), pages 479-490.

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