Banking reform in a transition economy: the case of Poland

Polish banks have been weakened by large loan losses and low capital. Recapitalization and better economic conditions have strengthened the industry, but problems remain, especially among some large state-owned banks. Continued improvement of the banking system will require additional domestic or foreign capital to strengthen reserves and to modernize operations.Banks and banking ; Poland

Bank time deposit rates and market discipline in Poland: the impact of state ownership and deposit insurance reform

This paper examines the impact of ownership structure and changes in the deposit insurance system on the market for bank time deposits in Poland. In an environment of less restrictive bank supervision and a deposit insurance policy that favored state banks, we find depositors exacted a price for risk taking. After a new law increasing coverage for private banks went into effect, however, bank specific variables became less important in explaining differences in deposit interest rates. We report that the three fully guaranteed state banks pay significantly lower rates that private banks. However, other state-owned banks, with the same de jure guarantee as private banks, pay significantly lower rates than private banks, so it appears that depositors treat these state-owned banks as if they have a larger de facto guarantee.Poland ; Deposit insurance

Experiential Learning through Short-Term Study Abroad: A Business Approach

Excerpt Passarelli and Kolb (2012) suggest that an experiential education model can be useful in designing and assessing study abroad programs. As business school professors in the Driehaus College of Business at DePaul University who direct and assess short-term study abroad programs, we could not agree more. Our global framework not only encourages students to leave their comfort zones and experience unfamiliar cultural environments, but they are also provided with opportunities to explore issues of academic and business interest with academic, governmental, business, and non-business leaders in other countries. Moreover, they can also observe how public and private organizations operate in various parts of the world. Through study abroad, students leave the classroom, interact with key leaders in their countries, and learn through engagement, discussion, and immersion. The purpose of this paper is to explain how short-term study abroad programs developed in our college provide such possibilities for busy undergraduate and graduate students; moreover, we provide suggestions for professors wishing to implement similar programs at their own institutions

Where Has All the Demand Gone? Challenges to Growth in a “Neo-Mercantilist Age

Extensive attention has been given to countries that run current account deficits, but little attention has been devoted to understanding why countries run large surpluses. This is surprising given that unsustainable international imbalances result from one as much as the other. We begin with a wideranging review of the literature to better understand the political and economic forces that lead to demand decreasing policies. We then demonstrate how the systemic choices made within the Bretton Woods and Post Bretton Woods periods constrained and enabled the generation of large surpluses. Next, we examine imbalances at the global level to determine whether they are getting bigger rather than trending toward external balance. We find evidence that the trend towards imbalance is strengthening. We then analyze the patterns of these surpluses in four countries noting where government policies have most prominently contributed to the surpluses, pointing out the differing motivations for and implementations of these policies across countries. This leads us to ask, finally, what these trends portend and what can be done to mitigate or reverse them if they bode ill for global economic well-being

Where Has All the Demand Gone? Challenges to Growth in a “Neo-Mercantilist Age

Extensive attention has been given to countries that run current account deficits, but little attention has been devoted to understanding why countries run large surpluses. This is surprising given that unsustainable international imbalances result from one as much as the other. We begin with a wideranging review of the literature to better understand the political and economic forces that lead to demand decreasing policies. We then demonstrate how the systemic choices made within the Bretton Woods and Post Bretton Woods periods constrained and enabled the generation of large surpluses. Next, we examine imbalances at the global level to determine whether they are getting bigger rather than trending toward external balance. We find evidence that the trend towards imbalance is strengthening. We then analyze the patterns of these surpluses in four countries noting where government policies have most prominently contributed to the surpluses, pointing out the differing motivations for and implementations of these policies across countries. This leads us to ask, finally, what these trends portend and what can be done to mitigate or reverse them if they bode ill for global economic well-being

Where Has All the Demand Gone? Challenges to Growth in a “Neo-Mercantilist Age

Extensive attention has been given to countries that run current account deficits, but little attention has been devoted to understanding why countries run large surpluses. This is surprising given that unsustainable international imbalances result from one as much as the other. We begin with a wideranging review of the literature to better understand the political and economic forces that lead to demand decreasing policies. We then demonstrate how the systemic choices made within the Bretton Woods and Post Bretton Woods periods constrained and enabled the generation of large surpluses. Next, we examine imbalances at the global level to determine whether they are getting bigger rather than trending toward external balance. We find evidence that the trend towards imbalance is strengthening. We then analyze the patterns of these surpluses in four countries noting where government policies have most prominently contributed to the surpluses, pointing out the differing motivations for and implementations of these policies across countries. This leads us to ask, finally, what these trends portend and what can be done to mitigate or reverse them if they bode ill for global economic well-being