Papers by Piotr Komorowski
International Economic Policy for the Polycrisis, 2025
The stable development of a country’s economy results from economic freedom,
entrepreneurship, an... more The stable development of a country’s economy results from economic freedom,
entrepreneurship, and good interaction between all its parts. This guiding principle
is based on the assumption that the objective of economic policy is to create
favourable conditions for the development of economic actors at many levels and
in various cross sections of the economy, starting with the smallest enterprises,
their relations with the environment, an efficient market, and a favourable technical
and regulatory infrastructure. In this respect, it is worth looking at mismatched
mechanisms and the lack of synchronisation of economic sectors, which may translate
into problems of sustainable development in the long term, especially in the era
of intensified challenges and tensions of a socio-economic and ideological nature,
including the occurrence of polycrises.
Analysing the conditions necessary for economic development, it can be seen,
even from a distance, that the financial system and the real economy sphere indicate
separate mechanisms and deep divisions. It becomes evident that both spheres
develop independently of each other, pursue separate goals, and thus generate
inequalities breaking economic homogeneity. The relationship between these elements
is profoundly incoherent; it reflects a structural crisis that hinders economic
policy and reliable prediction of development in the long term.1 The strategy of
sustainable development pursued by the state, based on the search for internal equilibrium
and long-term rationality, faces worrying difficulties. This chapter aims to
demonstrate the most important problems of a structural nature indicating the need
to search for a new model of the financial system ensuring security and economic
and social stability.
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Studia i Prace Kolegium Zarządzania i Finansów / Szkoła Główna Handlowa, 2012
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Zenodo (CERN European Organization for Nuclear Research), Jun 30, 2022
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Zenodo (CERN European Organization for Nuclear Research), Jun 30, 2022
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Trwający obecnie kryzys gospodarczy można traktować jako złożony, kompleksowy czynnik kształtując... more Trwający obecnie kryzys gospodarczy można traktować jako złożony, kompleksowy czynnik kształtujący współczesną rzeczywistość. Pomimo upływu czasu od momentu zaistnienia tego zjawiska wydaje się, że proces ten ma nadal dużą wewnętrzną dynamikę rozwoju, próby jego rozwodnienia i neutralizacji nie przynoszą zaś spodziewanych efektów. Dane makroekonomiczne sygnalizują, że jego działanie stale postępuje, przeobraża się, przenika na nowe płaszczyzny gospodarki i społeczeństwa, odbija się na warunkach życia jednostek. Z drugiej strony walka z nim inicjuje liczne zmiany w sferze realnej i regulacyjnej. Zauważamy więc, że proces rozwoju kryzysu gospodarczego od jego wybuchu do wygaśnięcia nie jest jednolity. Możliwe jest wydzielenie poszczególnych etapów jego ewolucji w czasie, które charakteryzują się określonym kształtem zainicjowanych przemian. Wwarunkach gospodarki otwartej, w której procesy koniunkturalne przenikają się w skali globalnej, identyfikacja fazy kryzysu, w jakiej znajduje się określona gospodarka, ułatwia podejmowanie skutecznej strategii przeciwdziałania zjawiskom kryzysogennym.
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K E Y W O R D S safety network, financial markets, global economy, crisis DOI: 10.12846/j.em.2015... more K E Y W O R D S safety network, financial markets, global economy, crisis DOI: 10.12846/j.em.2015.04.03 Corresponding author:
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The Conscience of a Liberal by Paul Krugman is a kind of criticism of the political and economic ... more The Conscience of a Liberal by Paul Krugman is a kind of criticism of the political and economic order of the late 20th and early 21st century, which according to the author exposed America and the World to a serious crisis resulting from the growing disparities in the well-being of the American people. The author’s deduction led to the conclusions whose veracity was to a large extent confirmed by the outbreak and course of the 2007 crisis. Neoliberalism stopped working as a power to determine the economic growth and it led to a crisis. If the outbreak and overcoming of the crisis did not eliminate its reasons, but on the contrary increased the impact of the majority of them, it may be certainly assumed that the problem of finding a new economic doctrine is especially relevant now.
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Journal of Modern Science, 2021
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The recent economic crisis has revealed the problem of regulation and supervision in the financia... more The recent economic crisis has revealed the problem of regulation and supervision in the financial sector as well as the need for carrying out reforms in this area. The areas for discussion are determined by a proposal to extend the scope of banking supervision within the framework of 74 Jan Komorowski, Piotr Komorowski Basel III. Apart from the fact that Poland has not been severely affected by the crisis, its regulatory and supervising bodies are facing a major challenge related to regulatory reforms necessitated by integration with the EU and the process of globalization. The effectiveness of measures aimed to strengthen and stabilise the financial sector is conditioned by the adoption of a predicative approach to problem solving and the identification of necessary changes in the long run. The vision for future changes should be based on the coordinated and focused efforts undertaken by all financial sector entities including the regulator, supervision units, the state and the academic community
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Journal of Management and Financial Sciences, 2019
Financial system stability is considered a public good. The main role of the financial safety net... more Financial system stability is considered a public good. The main role of the financial safety network is to stabilise the system. Information and statistical activities of institutions which belong to the safety network are the tools which may improve the stability. We need to stress that most decisions are based on information, in particular decisions on investment or speculation, hence by providing information and statistical data these institutions indirectly enhance the overall stability of the system. An overview and analysis of selected studies addressing financial system stability helped the authors draw theoret- ical and practical conclusions as to the stability itself and the impact of information and statistics upon its improvement.
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Journal of Management and Financial Sciences, 2019
In the conditions of the globalization of economies the issue of financial stability, which is a ... more In the conditions of the globalization of economies the issue of financial stability, which is a condition for the economic security of the state, has acquired a special significance. The aim of the article is to determine the importance of the role of financial stability for maintaining economic security and economic growth and to validate the role of the Safety Network Institution in maintaining stability.
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Financial sustainability of an open economy is a very current and complex issue. In today's g... more Financial sustainability of an open economy is a very current and complex issue. In today's global conditions the flow of streams of capital, people, labour, goods, materials, etc. are controlled in a very small degree by countries and its direction depends on exogenous factors. Such conditions allow the free transfer of economic processes within the globalised economy. These processes can generate desirable, positive effects or undesirable, negative effects to the country's economy. Under these circumstances it is important for the internal economy, and the financial system, to possess the ability to resist the destabilizing processes, especially during their particular intensity during a crisis. Given the fact that the initial crisis processes spread through financial markets, and primarily affect the financial system, it's resistance to destabilisation is the most important security buffer for the real economy to maintain growth. Therefore, the sustainability of the f...
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The SARS-CoV-2 (Covid-19) coronavirus pandemic has severely affected the global economy. In 2020,... more The SARS-CoV-2 (Covid-19) coronavirus pandemic has severely affected the global economy. In 2020, due to the spread of virus, many countries experienced an economic recession. During the first wave of the pandemic, there was also a crash in the capital markets, mainly in the securities markets, as a result of which interventionist measures within the monetary and fiscal policy were applied. When central banks lowered interest rates and the governments of individual countries started implementing anti-crisis, interventionist programs of socio-economic policy, including fiscal policy and monetary policy, pessimistic moods on capital markets improved significantly, the economic situation began to stabilize and the economies of individual countries began to recover from recession and economic crisis. The authors of this article share the view that if the state had not applied specific systemic and normative instruments of anti-pandemic security, and would not introduced a pandemic risk ...
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Journal of Modern Science, 2021
The current economic situation brings many challenges for the functioning of enterprises. The glo... more The current economic situation brings many challenges for the functioning of enterprises. The global polarization of the world economy is progressing within the production and consumption poles as well as the centre of financial surpluses and the centre of debt. An additional factor having a significant impact on market realities is the ongoing COVID-19 pandemic. The high dynamics of economic processes forces enterprises to change management methods, operating strategies, the range of tools used, as well as changes necessary in organizational culture, not to mention application of new technologies. It can be said that we operate in the era of changes, so change management is becoming a dynamically developing area. The current economic challenges have significantly influenced the development of modern methods of supply chain management. The aim of the paper is to identify the changes in the approach to supply chain management in the pandemic era. The discussion is based on the analysis of source wmaterials, including industry reports, as well as the presentation of modern methods of supply chain management based on author's practical experience.
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International Journal of Legal Studies, 2021
The issue of state security is especially relevant today, in the era of progressive globalization... more The issue of state security is especially relevant today, in the era of progressive globalization, corporatism, financialisaton, computerization, the COVID-19 pandemic, etc. Maintaining the broadly understood security is a function of the state. Financial security is a component of the national security. Maintaining security is a condition for building economic growth and is a particular challenge in the case of small open economies, for which crisis-causing phenomena are mostly exogenous. The COVID-19 pandemic was the main impetus for the materialization of risks that had an impact on the global economy. It should be emphasized that usually a change in the business cycle, and even the outbreak of a crisis, is unexpected, and its nature is difficult to predict, hence the ongoing discussion on how to regulate the economy to make it crisis-resistant. There is no universal method of building economic resilience to the crisis, but this article attempts to indicate financial and non-financial factors that have a positive impact on building the counter-cyclical financial security of a small open economy.
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An economic crisis is a spontaneous and a very complex phenomenon which generates both quantitati... more An economic crisis is a spontaneous and a very complex phenomenon which generates both quantitative and qualitative processes, causing irreversible changes in the functioning of economies. Its dynamics, however, is more complex than the description in the context of the economic cycle. An economic crisis is not a homogeneous process and can be segmented into specific stages forming the model of a life cycle of a crisis. Application of this model allows to indicate the phase of the crisis and its crisis-factors and to measure its current potential and existing tensions, therefore can be a tool to develop anticrisis strategies.
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Journal of Management and Financial Sciences, 2019
In the conditions of the globalization of economies the issue of financial stability, which is a ... more In the conditions of the globalization of economies the issue of financial stability, which is a condition for the economic security of the state, has acquired a special significance. The aim of the article is to determine the importance of the role of financial stability for maintaining economic security and economic growth and to validate the role of the Safety Network Institution in maintaining stability.
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Papers by Piotr Komorowski
entrepreneurship, and good interaction between all its parts. This guiding principle
is based on the assumption that the objective of economic policy is to create
favourable conditions for the development of economic actors at many levels and
in various cross sections of the economy, starting with the smallest enterprises,
their relations with the environment, an efficient market, and a favourable technical
and regulatory infrastructure. In this respect, it is worth looking at mismatched
mechanisms and the lack of synchronisation of economic sectors, which may translate
into problems of sustainable development in the long term, especially in the era
of intensified challenges and tensions of a socio-economic and ideological nature,
including the occurrence of polycrises.
Analysing the conditions necessary for economic development, it can be seen,
even from a distance, that the financial system and the real economy sphere indicate
separate mechanisms and deep divisions. It becomes evident that both spheres
develop independently of each other, pursue separate goals, and thus generate
inequalities breaking economic homogeneity. The relationship between these elements
is profoundly incoherent; it reflects a structural crisis that hinders economic
policy and reliable prediction of development in the long term.1 The strategy of
sustainable development pursued by the state, based on the search for internal equilibrium
and long-term rationality, faces worrying difficulties. This chapter aims to
demonstrate the most important problems of a structural nature indicating the need
to search for a new model of the financial system ensuring security and economic
and social stability.
entrepreneurship, and good interaction between all its parts. This guiding principle
is based on the assumption that the objective of economic policy is to create
favourable conditions for the development of economic actors at many levels and
in various cross sections of the economy, starting with the smallest enterprises,
their relations with the environment, an efficient market, and a favourable technical
and regulatory infrastructure. In this respect, it is worth looking at mismatched
mechanisms and the lack of synchronisation of economic sectors, which may translate
into problems of sustainable development in the long term, especially in the era
of intensified challenges and tensions of a socio-economic and ideological nature,
including the occurrence of polycrises.
Analysing the conditions necessary for economic development, it can be seen,
even from a distance, that the financial system and the real economy sphere indicate
separate mechanisms and deep divisions. It becomes evident that both spheres
develop independently of each other, pursue separate goals, and thus generate
inequalities breaking economic homogeneity. The relationship between these elements
is profoundly incoherent; it reflects a structural crisis that hinders economic
policy and reliable prediction of development in the long term.1 The strategy of
sustainable development pursued by the state, based on the search for internal equilibrium
and long-term rationality, faces worrying difficulties. This chapter aims to
demonstrate the most important problems of a structural nature indicating the need
to search for a new model of the financial system ensuring security and economic
and social stability.