finance

  • Konstytucyjna zasada wolności gospodarczej a COVID-19 - interwencjonizm państwowy w warunkach pandemii

    Author: Lidia Kaliszczak
    Institution: Uniwersytet Rzeszowski
    ORCID: https://orcid.org/0000-0002-1879-1352
    Author: Ewelina Rabiej
    Institution: Uniwersytet Rzeszowski
    ORCID: https://orcid.org/0000-0003-0420-5217
    Year of publication: 2021
    Source: Show
    Pages: 191-201
    DOI Address: https://doi.org/10.15804/ppk.2021.05.14
    PDF: ppk/63/ppk6314.pdf

    The constitutional principle of economic freedom and COVID-19 – interventionism in the pandemic situation

    The purpose of the article is to analyse the concept of economic freedom as a constitutional right in Poland, in the context of the COVID-19 pandemic and to synthetically evaluate the intervention actions taken by government in the economic area – their nature and scope. Descriptive analysis and statistical data analysis of the economic impact of the pandemic were used. The research work points to the intensification of state interventionism while limiting economic freedom. This phenomenon, seemingly negative, should be assessed positively, because the actions taken by government actually limit the multidimensional consequences of the COVID-19 pandemic.

  • Real Estate Markets and Financial Crises – From the “Gründerkrise” to the “Subprime Mortgage Crisis”

    Author: Luigi Droste
    Institution: University of Münster
    Year of publication: 2014
    Source: Show
    Pages: 67-88
    DOI Address: https://doi.org/10.15804/kie.2014.06.04
    PDF: kie/106/kie10604.pdf

    There are significant hints of a strong relationship between the dynamics of real estate markets and financial crises from the second half of the 19th century until today. In spite of research accumulation, it is seemingly ignored that since the late 19th century several financial crises were caused by real estate bubbles, depending on the distinct characteristics of real estate markets. The paper supports the idea that real estate and financial crises show indeed similar and congruent characteristics since the 19th century. This concerns (1) the inherent tendency towards speculative bubbles, (2) the growing significance of globalized finance, (3) credit practices, (4) the close relationship between the banking system and real estate markets and (5) between the real estate business and the stock market. However, the investigation into real estate markets is not only interesting for understanding and explaining the genesis of modern economic crises, but also contributes to the understanding of the emergence of practices of speculation, the indebtedness of private households and social inequalities. Further research on real estate markets promises the contribution towards a better understanding of actors, practices and institutions in modern market society.

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