Robert Dankiewicz

Department of Finance, Banking and Accounting, 

Rzeszow University of Technology, Poland

rdankiew@prz.edu.pl

ORCID 0000-0003-3453-2892

Impact factors and structural analysis of the state's financial security

Bartłomiej Balawejder

Department of Banking and Global Financial System, Krakow University of Economics, Poland

balawejb@uek.krakow.pl

ORCID 0000-0003-3488-6308

Katarzyna Chudy-Laskowska

Department of Quantitative Methods, Rzeszow University of Technology, Poland

kacha877@prz.edu.pl

ORCID 0000-0002-7797-2858

Igor Britchenko

Higher School of Security and Economics, Plovdiv

Bulgaria

ibritchenko@gmail.com

ORCID 0000-0002-9196-8740

Abstract. The concept of state financial security is a key one, due to the fact that it reflects the state of the country, its public finances, as well as the state of the financial sector operating within it. An adequate level of state financial security can create optimal conditions for the development of the financial system, financial stability, as well as for the country's economic development and investment attractiveness. One of the main factors that determine a high level of state financial security is the stability of the financial sector. Given that the assets of the banking sector account for a significant, if not an overwhelming share of the total assets of the financial sector, this sector plays a key role in the economy as a whole. Therefore, a stable and secure banking sector is an important element affecting the level of financial security of a country. The paper attempts to define the concept of state financial security and to present its relevance. In addition, the paper also aimed to identify the main factors that most influence the level of state financial security. Eight indicators, generally accepted as those describing the level of state financial security, were applied in the paper and used as the basis for an econometric model expressing the relationship between them and the stable development of the banking sector. The study showed that the stability of the Polish banking sector determined the financial security of the state.

Received: February, 2022

1st Revision: October, 2022

Accepted: December, 2022

DOI: 10.14254/2071-8330.2022/15-4/5

JEL Classification: E51, E6

Keywords: financial security, security of the state, financial system