Macroeconomic crisis management

Abstract

The study attempts to link the current development of financial systems with the contemporary
process of economic globalization. The global change which has been taking place since the last
half of the past century in social and economic, political and business spheres contributed to a significant
modification of the dominant modern market structures and financial systems. These processes
constituted favourable conditions for the growth of the economic globalization in the world economy
as well as the internationalization of financial markets. The financial crisis that began in 2008 in the
private sector turned into a crisis of public finances in many - mainly developed – countries, but until
now it has been basically resolved. The anti-crisis tools used in the public and market financial systems
gradually bring together the Anglo-Saxon and European models of financial systems and act
within these processes as another determinant of economic globalization. For the last twenty six years
the Polish economy has also been subjected to the modern trends of economic globalization, but it
seems to be in moderately good shape and up to now has been basically resistant to the adverse
effects of the financial crisis of 2008.