Agata Gemzik-Salwach - Böcker

There can be no doubt that the influence of the financial sphere has intensified rapidly in recent years, but there is much debate about the effect of that influence. The aftermath of the Financial Crisis has led to numerous discussions of the phenomenon of so-called financialization: the increasing impact of financial institutions on the activity of all business entities; emerging threats related with dynamically developing financial markets and the growing importance of financial themes. In light of these issues, which appear in all economies and touch all entities and every area of economic activity, there is a need for a summary and evaluation of the role of financialization in the world today.This monograph presents the role of financialization in the modern world. It shows positive as well as negative effects of financialization on the stability of the whole economy, the functioning of different types of markets, activity of enterprises, state institutions and behaviours of households. Written by expert contributors, this book plays an important role in the debate concerning future directions of development of the financial sector and financial markets.Financialization and the Economy is of great importance to those who study political economy, macroeconomics and banking.

Identifying the key challenges faced by modern banks in a dynamically changing economic, regulatory, technological, and social environment, this book proposes an original concept of the banking ecosystem.In this framework, a bank is not merely a service provider but a supportive and cooperative institution capable of effectively adapting to new market and societal realities. Authored by international experts, each chapter of the book elaborates on one of the key aspects of banking operations within the new paradigm. The book presents the situation in which financial institutions face three types of changes: economic, social and technological challenges. The first part of the book focuses on economic challenges, analysing capital market imperfections and their impact on financial stability. It also examines how globalization has influenced the structure of banking systems worldwide. The second part examines social challenges, including the financial sector’s responsibility in supporting sustainable development and adapting to ESG (Environmental, Social, and Governance) trends. It also drew attention to the growing need to control and reduce moral hazard when concluding financial transactions. The final section addresses technological challenges, particularly the rapid digital transformation of e-services. The growing influence of the digital generation, combined with an aging population, forces financial institutions to adapt their services. For each challenge, the authors present possible scenarios for financial institutions to adapt and the consequences of the choices made. Each time, recommendations for financial institutions are also formulated. In such an unstable environment and such dynamic changes, only those banks that are able to successful adapt to their environment will survive.The book will appeal to readers in economics and finance, particularly in the fields of banking, financial markets and regulations, and economic policy.