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

Author

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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)

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

Suggested Citation

  • Alfred Janc & Pawel Marszalek, 2015. "Effects of internationalization, privatisation and demutualization of the financial sector on supply of finance and stability," Working papers wpaper119, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    • Handle: RePEc:fes:wpaper:wpaper119
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    More about this item

    Keywords

    internationalization; privatisation; de-mutualization; financial sector; financialization;
    All these keywords.

    JEL classification:

    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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