Elżbieta Malinowska-Misiąg - Böcker

The Role of Crises in Shaping Financial Systems: From the Global Financial Crisis to COVID-19 underscores the role of crises as turning points for the financial sector and its interactions with the real economy. It sheds new light on the financial industry through the lens of three recent crises – the global financial crisis, the sovereign debt crisis, and the COVID-19 pandemic. The book provides in-depth insight into the financial systems in European Economic Area countries, accentuating the role of crises in shaping the condition and development of the financial arena. The authors pay special attention to the differences between “old” and “new” Europe, i.e. countries that joined the EU in 2004 or later. It explores the implications of recent turbulences for financial institutions, financial markets, and public finance, and their relationship with the economy. The book examines low or negative interest rates, non-standard monetary policy, fiscal stimulus, dense safety nets, regulatory inflation, weak profitability of the financial sector, and the sovereign-bank nexus. Post-crisis developments are assessed, comprehensively and empirically, from both macro- and microeconomic perspectives to help readers understand the nature of policy measures and their socio-economic implications.The authors outline their predictions for the future of financial systems, focusing on the structural changes and legacy of the COVID-19 crisis and global financial interlinkages.The book adopts both theoretical and practical approaches to explore the key issues and, as such, will appeal to academics and students of financial economics and international finance, as well as policymakers and financial regulators.

The Role of Crises in Shaping Financial Systems: From the Global Financial Crisis to COVID-19 underscores the role of crises as turning points for the financial sector and its interactions with the real economy. It sheds new light on the financial industry through the lens of three recent crises – the global financial crisis, the sovereign debt crisis, and the COVID-19 pandemic. The book provides in-depth insight into the financial systems in European Economic Area countries, accentuating the role of crises in shaping the condition and development of the financial arena. The authors pay special attention to the differences between “old” and “new” Europe, i.e. countries that joined the EU in 2004 or later. It explores the implications of recent turbulences for financial institutions, financial markets, and public finance, and their relationship with the economy. The book examines low or negative interest rates, non-standard monetary policy, fiscal stimulus, dense safety nets, regulatory inflation, weak profitability of the financial sector, and the sovereign-bank nexus. Post-crisis developments are assessed, comprehensively and empirically, from both macro- and microeconomic perspectives to help readers understand the nature of policy measures and their socio-economic implications.The authors outline their predictions for the future of financial systems, focusing on the structural changes and legacy of the COVID-19 crisis and global financial interlinkages.The book adopts both theoretical and practical approaches to explore the key issues and, as such, will appeal to academics and students of financial economics and international finance, as well as policymakers and financial regulators.

This book navigates the complexities of local real estate taxation in the dynamic region of Central and Eastern Europe, providing a meticulous analysis of the diverse approaches taken across the region. From Poland to Hungary, Romania to the Czech Republic, this book explores the historical roots and evolution of local real estate tax, its importance in municipal fiscal policy and its impact on communities.This book analyses the motives and models used by municipal authorities in their calculations around real estate tax and considers whether they are primarily a fiscal tool, related to budget revenues, or stimulants for future growth aimed at boosting local socio‑economic development. It also explores whether municipalities compete with neighbouring entities on taxation and the extent to which the political cycle and the meeting of voter demands and expectations play a role.This book will be of great interest to readers in public economics and finance, taxation policy and law, local government and the CEE region more broadly.The Open Access version of this book, available at http://www.taylorfrancis.com, has been made available under a Creative Commons [Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND)] 4.0 license.