Financialization in the Regional Aspect. An Attempt to Measure a Phenomenon.

Abstract

The aim of the work was to analyze the possibilities of measuring the phenomenon of financialization on a regional basis. The article attempts the move with the measurement of financialization from the level of countries to the level of regions. In the paper, some variables that can measure financialization at the level of voivodeships were used to create an index of regional financialization. The research proposal was verified empirically, using data from 2005–2015 for 16 Polish voivodeships. The results obtained allowed for the ranking of individual regions of the country, in terms of the degree of intensification of financialization. The regional approach is a subject, which is poorly recognized in the literature on the subject. However, according to the authors of the article, individual regions of the country may have a different degree of intensity of financialization, and knowledge on this subject may form the basis for strategic decisions regarding further development of these regions. The authors of the work wanted to pay attention to this issue and initiate further research in this direction. The presented methodology is only an attempt to measure this phenomenon and can be developed in subsequent studies.

Activity of Regional Microfinance Institutions in Terms of Regional Development

“…As a result of the analysis, it may not be unequivocally concluded that the current loan and guarantee funds have a significant impact on the condition of the region. This is certainly due to the region of operation, the scale of their impact and their activity, which is much smaller than that of bank lending campaign (Gemzik-Salwach, and Perz, 2018). Other elements matter as well, such as the amount of capital and the condition, willingness of enterprises to invest.…”