Joanna Trębska

University of Social Sciences, Lodz,

Poland

joannatrebska@o2.pl

Sources of financing tangible and financial assets

of institutional sectors in the Polish economy in 1995-2012

Received: March, 2014

1st Revision: April, 2014

Accepted: May, 2014

ABSTRACT.  In the context of the last  nancial crisis, statistics from the  nancial account as a part of accumulation accounts in SNA become increasingly important for monitoring interconnected  nancial and real side of the economy. Basic relations in the economy surrounding investment processes, economic growth, structure of the  nal

demand and the position of the  nancial system, are used to indicate major structural changes relating to the accumulation in the Polish economy in the time period 1995-2012 and to the sources of funding assets. Empirical analysis is based on Klein’s flow of funds model (Klein, 2003) using Eurostat database for non- nancial and  nancial annual sector accounts. Special attention is paid to the changes in capital formation and acquisition of  nancial assets associated with the development of entrepreneurship in Poland in the nineties of the twentieth century as well those connected with the worldwide  nancial crisis.

DOI: 10.14254/2071-8330.2014/7-1/6

JEL Classification: G01, C67, E21, E22

Keywords: national accounts, saving, investment, flow of funds