| Abstract [eng] |
Various factors of financialisation have been investigated; however, there is lack of research studies revealing the impact of financialisation on efficiency; therefore, the research problem can be defined by the following questions: what are the theoretical assumptions of the impact of financialisation made on efficiency; what are the phenomena that link financialisation to productivity; what are the differences in terms of financialisation, efficiency and indicators reflecting the factors determining it in various countries; what is the impact made by financialisation on efficiency of countries. The research aim is to design and empirically test the model of assessment of the impact of financialisation on efficiency after having defined the concept, ways of measuring, causes and consequences of financialisation, having identified the theoretical aspect of its impact on efficiency. The first part of the thesis deals with first two objectives. It operationalises the concept of financialisation and reveals the systematised version of it. Moreover, the major aspects of financialisation which make impact on economic growth are identified and negative factors that determined economic crisis are found out. The second part implements the third objective of the research. The research model is designed, the research methods are introduced, indicators reflecting efficiency of countries, level of financialisation and other factors of the model are selected, the choice of the explored period and group of countries is substantiated, limitations of the research are pointed out. The third part is dedicated to implementation of the fourth objective of the thesis. It performs the analysis of efficiency, financialisation, annual foreign direct investment, size of industry sector and dynamics of the level of hi-tech industry export and distribution of index values over the surveyed period across the countries constituting the research sample. By employing a multiple regression model, the impact of financialisation and other factors of the model on efficiency is assessed using panel data of 2003–2017. |
