Deregulation Process Research Articles

Ugovor o prodaji sa posebnim osvrtom na značaj tretmana cene - pravno-ekonomski osvrti, dileme i perspektive

In modern business conditions, due to the process of globalization, deregulation and liberalization, sales have reached enormous proportions in the world. It is for these reasons that sales contracts in international trade are of great importance today. Also, the development of industry and economy, as well as the development of multinational and transnational companies, has led to a huge expansion of the range of goods that become the subject of economic trade and thus contracting, since the sales contract has economic and legal effects, but also different conflict norms, dilemmas and treatments. Given the increase in prices in all business segments and the fact that foreign trade has reached enormous proportions in the world, sales contracts in international trade are of great importance today. Also, the development of industry and economy as well as the development of multinational and transnational companies has led to a huge expansion of the range of goods that become the subject of economic transactions. treatment of items and prices, different points of view.

Efekti ekonomske politike na spoljnotrgovinsku razmenu Republike Srbije - trgovinskopravni i ekonomski aspekt - budućnost i perspektive

Foreign trade of economic entities is determined by the instrument "Contract of Sale", which is one of the most common, frequent and numerous contracts in the economy without a clear distinction between seller and buyer. The Republic of Serbia has accepted the imposed international imperative rules in cooperation with the political influence of the domicile political economic policy. In such business conditions, and due to the process of globalization, deregulation and market liberalization, international dominance has several significant aspects, primarily given the turbulence, complexity and uncertainty of business and the application of regulations subject to change, which has significant negative implications for all economic policies domicile countries but also indirectly the dominant influence of international institutions. As an economic policy through price and exchange rate policy, it has a significant impact on foreign trade agreements in legal transactions through positioning, competitiveness, growth and development of the Republic of Serbia in both the domestic and international markets, where the so-calle. the principle of "victory of the stronger", the influences of imperialist forces, political influence and the world oligarchy should be considered in the context of the future and perspective and future of business of domestic companies. The aim of this paper is to connect knowledge from the legal and economic domain, focus on the effect of economic policy and its impact on foreign trade as challenges facing legal science, bearing in mind all the implications that are crucial for the future of business.

Financial liberalization during the Modi government: Political and economic implications

ABSTRACT Financial liberalization has been a gradual, calibrated and uneven process in India. Since the early 90s, Indian financial system has been transformed in accordance with a market-led economic strategy aiming to attract foreign investments and prepare its integration into the international financial circuits, through institutional changes, regulatory easing, public monopolies ending, etc. A few years after the 2008 global financial crisis, during the Modi government, the financial liberalization process has been significantly renovated and reinforced. In addition, old and new challenges have been (re)emerged, and domestic and external factors also have had considerable impacts by unveiling and aggravating systemic fragilities. In this context, the objective of this article is to analyze the financial deregulation process and its political and economic implications for India in the course of Modi’s first government, in view of the foreign investments, the banking system, the insurance sector and the monetary policy.

Аксиологические аспекты государственного контроля и надзора

The subject of research is state control and supervision from the point of view of axiological approaches. The first level of the latter makes it possible to determine value of state control and supervision as administrative forms; the second level forms variants of theoretical and legal substantiation of the correlation between the control and supervisory activities of the state and the totality of values protected by law. The aim of the article is to propose methodological techniques for determining the value of state control and supervision, which is understood as the importance of these institutions in the public administration system as a whole in the context of the possibility of using other administrative forms to achieve regulatory goals. The value of the control and supervisory activities of the state is substantiated from the point of view of the possibility of replacing state control and supervision with other regulatory mechanisms within the framework of deregulation processes (horizontal approach), as well as taking into account previous development of these administrative forms (evolutionary approach). Value of state control and supervision is seen as the ability to ensure the protection of legally protected values with minimal interference of public authorities in controlled activities. Value of the considered management forms is substantiated using the category of deregulation, which is understood as: process of development of a certain sphere of social relations; process of delegating state powers; trends to expanding the freedom of subjects, transition to “soft” regulation; process of reducing and simplifying administrative procedures (procedural deregulation). Determination of the value of state control and supervision is associated with the justification of the possibility of replacing these management forms with others in relation to a certain area of regulation, which determines a specific ratio of various management forms and mechanisms. From the point of view of evolutionary approach, value of state control and supervision is determined by the previous development of these administrative forms in the system of state power. Within the framework of the theoretical and legal substantiation of the category “values protected by law” in the system of state control and supervision, a variety of positions are highlighted. As a conclusion, a modern formula is proposed: state control and supervision — socially significant results — mandatory requirements — values protected by law.

The necessity of evaluation of deregulation processes in business environment of Ukraine considering the world practice

Deregulation is the basis for creating a national business model that should be close to European ones. Business climate in Ukraine has been characterized by unstable position that did not give opportunities to develop the national economy. Investors and entrepreneurs, during the period of independence, have noticed the cyclical character of the supporting level for doing business, it means that most state regulators justified their relevance, but many of them are ineffective, or are not relevant. The impossibility of business transparency has led to the reduction in the number of business units, as well as investment resources. The creation of favorable investment climate is the main task and object of the investigation for many scientific works. Transparency of the market, minimization of regulatory barriers and control bodies, as well as fair rules for organizing and doing business, can radically change the environment for business. Despite the attitude to Ukraine by foreign investors as for the country with significant business prospects, the level of foreign investment attraction remains low. Theoretically, it is assumed that with advantageous geographical provisions, industrial base and significant land resources, Ukraine has been able to triple capital in the conditions of existence of the favorable primary model of business management. The agrarian and energy industries could become dominant in attracting external capital. However, the recent years showed the significant reduction in foreign investment in the economy of Ukraine, and business players on the national market are trading, partially industry and construction, which also work at a small level of profitability, and the current economy state proves that these sectors cannot significantly effect on its development in perspective. Thus, searching for possible ways to improve the business environment, where the key indicator is the deregulation of business processes, remain relevant and should become the basis for economic reform without which Ukraine will not be able to become a highly competitive state, and therefore economic uncertainty will continue to affect its development negatively.

The evolving nature of labour inspection, enforcement of employment rights and the regulatory reach of the state in Britain

The role of the state in directly regulating employment through enforcement mechanisms is increasingly significant and politically contentious in a context of weakened unions and the increasingly fragmented and precarious nature of the labour market. This article focuses on qualitative research on labour market regulatory actors in Britain, including the Health and Safety Executive, the Gangmasters and Labour Abuse Authority, as well as referencing relevant changes in HM Revenue and Customs, trade unions, legal and advice services and other state agencies. The article argues that a curious dynamic is emerging in labour market regulation involving simultaneous processes of deregulation, greater levels of direct intervention in some areas alongside marketisation, and innovative forms of collaboration between relevant state agencies. Much of this is, however, driven by constraints imposed through economic austerity and neoliberal policies with an increasing focus on immigration and policing concerns, creating notable sets of organisational tensions within and between the agencies and the work of their relevant inspectors.

HEART RATE VARIABILITY AT REST AND DURING AN ORTHOSTATIC CHALLENGE AT DIFFERENT RANGES OF MxDMn VALUES IN FEMALE SKIERS IN THE TRAINING PROCESS

The aim of the study is to analyze the heart rate variability (HRV) and to identify ranges of variability of cardiac intervals (MxDMn) at rest and during an orthostatic challenge, which result in the violation of cardioregulatory systems and decrease in the functional state of female skiers in the training process. Research methods and organization. We conducted dynamic HRV studies of 35 female skiers, including 12 young women aged 15-17 years in different periods of the training process. The analysis and physiological interpretation of HRV indicators were carried out in accordance with the recommendations of a group of Russian experts, the European Cardiology Society and the North American Society of Electrical Stimulation and Electrophysiology [1996, 2011], as well as Russian researchers [1,3,5,6]. We carried out 351 HRV studies at rest (5 minutes) and during an orthostatic challenge (6 minutes) using the "VARICARD 2.51" device and the "VARICARD MP" program in the morning before another training session. Using the "VARICARD MP" program allowed us to simultaneously register cardio intervals in four athletes. Results of the research. We paid particular attention to the variation range of cardiac intervals (MxDMn) during the individual analysis of HRV indicators in female skiers. The functional state of cardioregulatory systems at rest and during an orthostatic challenge was evaluated for different ranges of MxDMn values: <150 ms, 151-250 ms, 251-350 ms, 351-450 ms, 451-550 ms, 551-650 ms, and >650 ms. The paper contains tables with different numbers of optimal and adverse response to an orthostatic challenge in adult and young female skiers with different MxDMn values. At the same time, we paid particular attention to young female skiers who had equal training regime in the analysis of MxDMn values. The paper demonstrates the individual dynamics of MxDMn indicators at rest and during an orthostatic challenge in young female skiers during different periods of the training process. The research revealed that the smallest and largest MxDMn values cause the deregulation process at rest and the deterioration of vegetative reactivity during orthostatic testing. We revealed MxDMn values of female skiers in the range from <100 ms to >600 ms after the same training day before another training session. It indicates different activation of the sinus node control mechanisms and the body recovery processes. The paper contains the outcomes of dynamic HRV studies in different female skiers who had minimal or maximum MxDMn values at rest and adverse response to an orthostatic challenge during different periods of the training process. We demonstrated the outcomes of MxDMn values in an overtrained female skier during the transition of heart rate control mechanisms from a pronounced predominance of the autonomous regulation circuit in the preparatory period to a pronounced predominance of the central regulation circuit in the competition period. The paper contains the figures of cardiointervalograms, HRV and ECG scatergrams at rest and during an orthostatic challenge at different values of the variational range of cardiointervals (MxDMn). Conclusion. The research revealed an important role of identification of the ranges of variability of cardiac intervals (MxDMn) in the individual HRV analysis in the training process of female skiers for a more accurate assessment of the cardioregulatory system status and the sinus node functioning. The predominant type of vegetative regulation and orthostatic sampling play a great role in determination of the origin of MxDMn indicators at rest. We identified the ranges of MxDMn values at rest and during an orthostatic challenge in young female skiers, which result in deregulatory manifestations, vegetative reactivity and recovery processes disorders leading to overtraining. We identified the optimal values of the range of MxDMn values for young female skiers, which are common for the moderate prevalence of the autonomous regulation circuit.

Elementos históricos para entender la geopolítica de la tecnología nuclear en Argentina, en la década de 1980


 
 
 
 El presente trabajo tiene como objetivo analizar la geopolítica de investigación, desarrollo y producción de tecnología nuclear en la década de 1980, en un contexto semiperiférico. Desde una perspectiva histórica, se estudiarán, por un lado, las presiones formales e informales de la diplomacia estadounidense, y, por otro lado, las políticas exteriores y el papel que en ellas tuvo el desarrollo de tecnología nuclear durante el gobierno argentino de Raúl Alfonsín (1983-1989). Como conclusión, se afirma que se adquirieron capacidades, así como aprendizaje institucional y técnico, en un proceso de competencia entre superpotencias y de desregulación y apertura de los mercados. Se verá que existe una correlación, en el ámbito de las relaciones internacionales, entre los intereses comerciales de los países centrales y los marcos regulatorios vinculados a procesos de proliferación de tecnologías sensibles.
 
 
 

Uticaj politike deviznog kursa na trgovinsku razmenu Republike Srbije u uslovima krize - trgovinskopravni i ekonomski aspekt

Exchange of goods and services between the economic entities is determined by the instrument "Contract of Sale", which is one of the most common, most frequent and most numerous contracts in the economy. In the modern business conditions, and due to the process of globalization, deregulation and market liberalization, international trade has many significant aspects, first of all, having in mind the turbulence, complexity and uncertainty of business as well as the application of regulations that are subject to change. In addition, it can be significantly influenced by all kinds of the economic policy of the domicile country, but also indirectly by the dominant impact of international institutions. One of the elements of economic policy is the exchange rate, which, through the price and the exchange rate policy, has significant implications for trade agreements in legal transactions through positioning, competitiveness, growth and development of the Republic of Serbia in both the domestic and international markets. Therefore, when conducting trade relations, especially at the international level, it is necessary to have top experts in the field of law and economics in order to avoid the so-called principle of "victory of the stronger" in knowledge in this area, because in that case they would certainly make a much higher profit than usual. The aim of this paper is to link knowledge in the legal and economic domain, to focus on the effect of exchange rate policy and its impact on trade law and trade, bearing in mind all the implications listed and crucial in a crisis circumstances.

STRATEGIC DIRECTIONS AND MEASURES FOR REFORMING UKRAINE'S ECONOMIC POLICY

Topicality. The task of growth of the gross domestic product of the state necessitates the implementation of processes of demonopolization and deregulation of the economy, creation of conditions for free fair competition, effective functioning of strategic commodity markets, expanded reproduction of the labor potential of the country. Nowadays, the issue of development and implementation of the new economic policy of Ukraine taking into account specific factors of influence on the national economic system in the context of its stable reproduction development is of particular relevance and importance. Aim and tasks. The purpose of the article is to substantiate the strategic directions, measures and instruments of reforming the economic policy of Ukraine, as the basis of the national platform of the new economic course of the state. During the research the following methods were used: dialectical, theoretical generalization and comparison, graphical, structural-logical method. Research results. In the article the author substantiates the expediency of creation of multidisciplinary All-Ukrainian associations and their main tasks. Proposals for systematic reformation of the most important taxes have been worked out: personal income tax, single social contribution, value added tax and income tax. Attention is drawn to the need to achieve a rational level of aggregate tax burden in Ukraine. The expediency of risk insurance in business lending, the use of international principles and practices in the formulation of antitrust and monetary policy in Ukraine is substantiated. Based on the analysis of the commodity structure of domestic exports, the necessity to support the production and export of high value-added processing products has been proved. The need for educational reform, changing the paradigm of cheap labor, conducting a high-quality multidimensional analysis of the labor market and adopting an updated labor code were emphasized. Conclusion. The proposals developed in the article form the conceptual basis of the national platform of Ukraine's new economic course. The development of a step-by-step plan of action, changes to legislation and the legal framework, a system of mechanisms and measures for their practical implementation determine the prospects for further research in this area.

“This will drive them wild…wild”: Comptroller James Saxon’s transformation of American banking, 1961-1966

ABSTRACTJames J. Saxon sought to transform American banking as Comptroller of the Currency, the regulator of national banks, from 1961 to 1966. As a regulatory entrepreneur, he attempted to unleash what he perceived as overly regulated national banks in order to stimulate the American economy. Saxon impacted many small towns by chartering new banks and breaking up ‘Rotary Club cartels.’ He loosened many regulations, induced numerous banks to switch to national charters, and sparred with fellow regulators and Congress, but ultimately failed to implement much of his agenda. The half century that followed saw his vision realized as the American financial sector occupied a historically disproportionate fraction of the economy. Saxon marks an inflection point between aggressive New Deal financial regulation and the deregulatory movement leading up to the Great Recession. Saxon serves as an example of the dangers in zeal outstripping tact in efforts to effect organizational change. He also provides an anomalous example of a bureaucrat breaking from the stereotype of colorless evenhandedness. As memories of the Great Recession fade, Saxon serves as an example of the risks of a deregulatory process and the importance of a delivery mechanism for ideas for today’s bankers, regulators, and public officials.

Deregulation as socio-spatial transformation: Dimensions and consequences of shifting governmentalities in the Danish construction industry

The paper analyses main dimensions and consequences of deregulation in the Danish construction industry. Previous research has often conceptualized deregulation in terms of either the dismantling of states’ regulatory capacity or the layering of initiatives upon existing structures. Using Foucault’s concept of governmentality, we contribute further to this discussion by conceptualizing the process of deregulation as a socio-spatial transformation. This is a complex process of transformative change involving the opening and reconfiguration of institutional spaces. Drawing on an analysis of historical and current developments and changing modes of construction governance in Denmark, we show how the construction sector in the 1940–1960s was rendered governable by disciplinary power in order to achieve national modernization. We then illustrate how the developments since the early 1990s have been moulded in a neoliberal governmentality, with a focus on deregulation and the establishment of free markets. On the basis, we discuss the consequences of a shift in governmentalities, suggesting that new deliberative spaces in the form of mediating and interstitial institutions are likely to be in demand for in order to transgress the bounds of neoliberalism and ensure commitment for alternative development agendas.

The Evolution of China’s International Aviation Markets from a Policy Perspective on Air Passenger Flows

China’s international air transportation has experienced tremendous growth and major reforms over the past two decades. While there has been a considerable discussion on the evolution of China’s domestic aviation market, studies on China’s international aviation markets have been limited. This paper first describes the historical development of China’s international aviation market and then, based on actual origin/destination (O/D) passenger flow data, explores the relevant evolution of China’s international air networks from the perspectives of the spatial distribution of international air networks and clustering characteristics of international air passengers. The development of China’s international aviation market can be attributable to the deregulation process in China’s aviation market and a broad “opening up” strategy in the global forum after 1990. Due to China’s proximity to East Asia and Southeast Asia, China’s international air networks show an obvious clustering pattern for short and medium-haul travel in Asia. In addition, average international air travel distance, institutional and policy changes, and increasing foreign trade and foreign tourism are crucial for the expansion of China’s international air networks.

Wnt Signaling Upregulates Teneurin-3 Expression via Canonical and Non-canonical Wnt Pathway Crosstalk.

Teneurins (Tens) are a highly conserved family of proteins necessary for cell-cell adhesion. Tens can be cleaved, and some of their proteolytic products, such as the teneurin c-terminal associated-peptide (TCAP) and the intracellular domain (ICD), have been demonstrated to be biologically active. Although Tens are considered critical for central nervous system development, they have also been demonstrated to play important roles in adult tissues, suggesting a potential link between their deregulation and various pathological processes, including neurodegeneration and cancer. However, knowledge regarding how Ten expression is modulated is almost absent. Relevantly, the functions of Tens resemble several of the effects of canonical and non-canonical Wnt pathway activation, including the effects of the Wnt pathways on neuronal development and function as well as their pivotal roles during carcinogenesis. Accordingly, in this initial study, we decided to evaluate whether Wnt signaling can modulate the expression of Tens. Remarkably, in the present work, we used a specific inhibitor of porcupine, the key enzyme for Wnt ligand secretion, to not only demonstrate the involvement of Wnt signaling in regulating Ten-3 expression for the first time but also reveal that Wnt3a, a canonical Wnt ligand, increases the expression of Ten-3 through a mechanism dependent on the secretion and activity of the non-canonical ligand Wnt5a. Although our work raises several new questions, our findings seem to demonstrate the upregulation of Ten-3 by Wnt signaling and also suggest that Ten-3 modulation is possible because of crosstalk between the canonical and non-canonical Wnt pathways.

Finance, extraction and logistics as axes of the third neoliberal moment in Latin America

With the notion of ‘operations of capital', focused on the interaction between the dimensions of finance, extraction and logistics, authors such as Mezzadra and Neilson have highlighted some ‘underlying transformations of capitalism’ that go well beyond a generic idea of neoliberalism as ‘the hegemonic circulation of economic doctrines or processes of deregulation and governance'. The aim of this article is to investigate the strong articulation of finance, extraction and logistics in Latin America by focusing on the creation of new infrastructural corridors in the continent during the ‘third phase’ of neoliberal hegemony in the region. This article brings together elements from the so-called ‘critical logistics studies’ literature with a range of other theoretical perspectives, including insights from the work of David Harvey, Giovanni Arrighi, Michel Foucault and Saskia Sassen. It applies this theoretical background to the Latin American reality, drawing on regional-specific literature and general data using a trans-disciplinary perspective.

Global Crop Value Chains: Shifts and Challenges in South-North Relations

The worldwide importance of crop production is undisputed due to its function for basic nutrition of billions of people. Yet, the emergence of global forces implies severe consequences for the organization of crop value chains. These forces particularly include processes of liberalization and deregulation, the dominance of large retail groups as well as ever-changing consumer demands, leading to continuous reconfigurations of crop value chains. Based on a literature review, this paper aims at thematically ‘organizing’ and differentiating the key findings of relevant empirical studies on global crop value chains, with a particular focus on South-North relations. Thereby, current shifts and challenges are identified and analysed with special attention paid to spatio-relational dimensions. The spatial perspective is important since crop value chains both shape and are shaped by specific geographical settings which is, among others, considered in the growing literature on food geographies. Overall, we could extract three strands of literature on global crop value chains: the integration of smallholders; the role of food standards; and the effect of ‘hidden’ dynamics. These issues especially reveal the interdependencies between the Global South and the Global North as a crucial feature of contemporary crop production and distribution systems. These are A further outcome of the literature analysis is the derivation of suggestions regarding future research and areas of needed progress.

Uticaj finansijske strukture na privredni rast - primer Srbije, Hrvatske i Slovenije

It is well known that the processes of deregulation, globalization and information technology, which began in the 80s and 90s, led to a review of the fundamentals of the financial system and its structure. At that time, international activity is initiated in connection with the improvement of the financial system through the adjustment of the regulatory and institutional framework. The financial structure in its characteristics can be bank-based or market-based, which is largely conditioned by factors such as relevant policies, culture, infrastructure development, key national sectors of the economy. What is always actual is the question of the mutual influence of the financial sector and the real sector, i.e. the relationship between the parameters of the financial structure and financial development, from one side, and economic growth and development, from the other side, to which the unique answer does not exist. In connection with the above, the subject of research in the paper is the analysis of the financial structure in Serbia, Croatia and Slovenia with the main goal of determining the influence of the parameters of the financial structure on economic growth.

Marketised Higher Education: Implications for Corporate Social Responsibility and Social Licence to Operate

The process of global marketisation and deregulation of higher education (HE) raises issues about how this increasingly marketised sector can identify its contribution to public interest goals of the nation-state and the UN’s Sustainable Development Goals (SDGs). To clarify this issue we examine the evolution of, and synergies between the concepts of corporate social responsibility (CSR), Triple Bottom Line (TBL), stakeholder engagement and social licence to operate (SLO) through the lenses of corporate status and business models of HE providers. We leverage Marginson’s conceptualisation of the “state quasi-market” form of delivery as a dominant paradigm and core construct allowing insight into how HE providers deliver a mix of public and private goods, exploring the implications for stakeholder relations. We suggest that this state quasi-market environment can be further understood through Godfrey and Lewis’s model that suggests stakeholders agree an appropriate ethical perspective of social good through pragmatism, incumbent upon their pluralistic engagement. We add that in this state quasi-market mix stakeholder power is both dynamic and synergistic, dependent on political and economic context, the mix co-evolving pragmatically to achieve an SLO. Stakeholder power driving the state quasi-market mix is explored across developed and developing countries to demonstrate themes that influence the SLO of private HE providers. These themes include the synergised approaches of the state and private sector to: meeting demand, access and equity goals; achieving quality standards; and, leveraging appropriate investment. We identify implications for the growth and sustainability of private providers and for shaping community perspectives around HE contribution to social and economic goals at a local, national and global level. We identify perceived skills and mindsets of HE stakeholders that can shape this state-quasi market relationship through mixes of state and private investment to facilitate critical and pragmatic engagement that meets local, national and global HE agendas. This objective reflects the intent of SDG17 that requires effective partnerships between governments, the private sector and civil society to achieve SDGs.

Sectoral and spatial features of investment processes in a region

Investment is an important indicator of the economic development of a region. The article examines sectoral and spatial features of investment processes in a region (on the example of Zaporizhzhya region). In particular, capital investment of enterprises in Zaporizhzhya region are analyzed by types of assets, sources of financing and types of economic activity, while development (use) of capital investment – by types of industrial activity. The paper establishes that: 1) own funds of enterprises were the main source of capital investment in Zaporizhzhya region during the period under review; 2) the highest share of capital investment in the region is financed by industrial enterprises; 3) the share of investment in professional, scientific and technical activities is reduced. The active development of the region’s industrial infrastructure is becoming a challenge for its environment today. Nevertheless, capital investment for environmental protection were found to have decreased in 2017 compared to 2016. Therefore, the strategic objective of the region today is to make effective use of its existing investment potential, in particular to improve the environment. The main factors influencing the investment processes in Zaporizhzhya region were identified: a) positive factors, in particular: availability of natural resources and own energy resources; higher level of profitability of enterprises in the region than the average in Ukraine; ongoing processes of deregulation, decentralization, reform of the territorial organization of power in Ukraine; b) factors of a negative nature, in particular: territorial (spatial) imbalance of business development and institutional infrastructure of business support; small capital investment for environmental protection; aggravation of the military conflict in Eastern Ukraine, etc.

THE PROCESSES OF CONSOLIDATION AND CONCENTRATION OF CAPITALAS IMPORTANT DETERMINANTS OF ECONOMIC GLOBALIZATION PROCESSES AFFECTING THE ECONOMIC DEVELOPMENT OF THE BANKING SYSTEM IN POLAND

The systemic transformation and socio-economic, which was initiated in Poland since 1989, are related with the intensified globalization processes that take place in various economic and social spheres of economy, including banking. Financial institutions as well as commercial banks are the entities which are not only subjects to theglobalization processes, they co-create these processes. The key attributes of globalization include deregulation processes, digitalization and internationalization, ie. global determinants, which were correlated with the adaptation of the financial system functioning in Poland to the European Union standards. To adjust internal procedures, product offerings and techniques of ICT operating in Poland banking to EU standards one has to consider the processes of consolidation and concentration of capital. These processes are applied in the commercial dimension of the financial system, including the banking sector since the mid-90s. Financial systemthat currently exists in Poland and includes the banking sector is among the best adapted to the EU standards. It is simultaneously one of the most globalized sectors of the economy. The key date for this issue concerns the year 2004, when Poland entered the European Union market structures. Currently, it is assumed that the process of globalization of financial markets and the banking system in Poland, apart from the consolidation processes and adjustments has been determined by such factors as administrative and supervisory goals of the central banking and supervisory bodies in the financial system and adjusting banking norms of law to the standards of Western highly developed countries.