Institute of Research in the discipline of Economics and Finance
The Institute is headed by Prof. Ryszard Michalski, PhD.
His deputies are Prof. Wojciech Charemza, PhD, in the years 2017-2018 director of the university’s Center for Advanced Studies and Prof. Wojciech Hübner, PhD, director of the Asia Research Institute.
The Institute of Research in the discipline of Economics and Finance was established at the beginning of the 2019/2020 academic year as a result of the merger of the Institute of Economic Research and the Institute of Finance.
The Institute includes academics and doctoral students in economics as well as finance and accounting at the Faculty of Business and International Relations.
Researchers from other institutes and fields of study also cooperate with the Institute. Its activities include scientific research and expert works in the field of economic sciences, in the discipline of economics, as well as finance and accounting. The Institute also undertakes inter-disciplinary, theoretical, and applied studies, conducted in cooperation with other external scientific units and experts.
As part of the research activity, the Institute conducts research on issues of economic development in Poland and the world, the state of domestic and international finances, domestic and foreign investments, the economic and financial cooperation of Poland with foreign countries, competitiveness and innovation of the economy, international economic integration, economic policy and social and risk management on a macro- and microeconomic, sectoral, European, and global scale.
Among the Institute’s employees, the team forming the university’s Center for Advanced Studies (VCAS) originates, whose work in 2017-2018 focused on the following projects: training on publishing opportunities in the country and abroad, and applying for research grants; reading group type working meetings to familiarise participants with selected research topics; scientific seminars conducted by persons affiliated to the Center and invited speakers; organising cooperation with scientists from domestic and foreign research centres; participation in congresses, conferences and scientific workshops.
Leading directions of the Institute’s scientific work.
The leading directions of the Institute’s scientific work in 2019 were, firstly, studies on structural changes taking place in the world, and resulting development challenges for the European and global economy, as well as the consequences they bring for Poland – including in the fields of foreign direct investment, financial security, and social development. Secondly, an analysis of the impact of macro-economic uncertainty on the economic policy of states, including Poland, and the countries of Central and Eastern Europe.
The Institute’s financial studies have focused around three groups of issues for years: public finance, corporate finance, and international finance. The state of finances of the Polish government and local government sector, the state budget and public debt are analysed. The financial situation of the enterprise sector in Poland is examined, with particular emphasis on the location of small and medium-sized enterprises and financial institutions. Much attention is paid to changes in global finance and the resulting threats to the Polish economy and finance, including the economic policy of the European Union and the debt crisis in the euro area. The results of work on the budgetary situation, the fiscal and monetary policy of the country and its payment situation towards the rest of the world are traditionally published in annual reports on the state’s financial condition and occasional articles.
The Institute’s achievements.
The Institute holds periodic meetings and conferences, cooperating with other VU Institutes. Recognising the great importance of quality management in economic life, on 27 March 2017, it organised a nationwide conference on: ‘Good governance principles at the enterprise, country, integration group, and world level’ where the main speaker was Professor Jerzy Wilkin. Responding to current demand, on 16 April 2018, the Institute organised another nationwide conference: ‘The Euro and the Polish case,’ devoted to the issue of Poland’s accession to the euro area. Professor Grzegorz Kołodko gave the lecture inaugurating the conference. In 2018, the Institute was also the organiser of the nationwide conference: ‘Problems of theory and practice of foreign direct investment (FDI) and FDI policy – conclusions for Poland’. On 20 May 2019, VU hosted the nationwide conference: ‘Thirty Years of Restitution of Capitalism in Poland – Advantages and Disadvantages’. An introductory lecture to the conference was given by professor Radosław Markowski. The meeting was inter-disciplinary and attempted to assess the achievements of the last three decades. In 2019, the Institute organised two other conferences: ‘Dilemmas of sustainable development of the Polish economy and finance in the global environment’ and ‘Systemic prevention and combatting money laundering’. As part of the Institute’s work, scientific seminars are organised, for example: ‘Can Regulation Improve Service Quality? Evidence from EU Passenger Rights’, and ‘Covered bonds and securitisation as instruments supporting the development of the mortgage segment in Poland after 2005’.
The results of the Institute’s scientific activities and conference materials are presented in scientific journals, monographs and other publications of the Vistula Group Publishing House and external publications.
In recent years, an important monograph has been published, edited by Ryszard Michalski, The 30th anniversary of the restitution of capitalism in Poland (2019); two monographs by Z. Zimny, have appeared: Policy towards foreign direct investment. Cost containment (2018) and Policy towards foreign direct investment. Conclusions for Poland (2017), as well as two chapters by J. Kotyński, in monographs prepared by the Forecast Committee ‘Poland 2000 Plus’, at the Presidium of the Polish Academy of Sciences in Warsaw: Problems of financial security of European countries: the role of the European Union; the future of currencies, in the book: ‘Security of Europe in the age of civilisational crisis’ (2018); and The nature of the modern economy. Main trends, in: ‘Where is Europe going? State – economy – society – finance’ (2016); M. Götz’s work: Stylised Facts and Salient Features in (Post) – Crisis FDI Policies in the EU (2016), Monografie, AFiBV, Warsaw; collective work of W. Hübner, V. Fedorenko, M. Rybicka, W. Wieszczycka New Silk Road – tradition and contemporary integration of Europe and Asia (2016), AFiBV, Warsaw. The Institute’s employees are also co-authors of a valued position International relations. Theory and Practice (2018), ed. by A. Dorosz, Z. Olesiński, L. Pastusiak, PWE, Warsaw, 2nd edition, revised and extended.
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