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The article presents the results of research on changes in the level of regional development in Albania and in all voivodships in Poland in the years 2010-2017. The applied annual data come from national statistical offices and include two social and six economic criteria. The study used one of the methods of multi-criteria decision analysis - TOPSIS with vector and linear parameters’ normalization. The results obtained (for both methods of normalization) indicate that in the years 2010-2017 Albania made the greatest progress in regional development, raising it from the lowest level in 2010 to comparable with several Polish voivodships in 2017. Unlike some Polish voivodships, Albania has significantly improved the demographic situation, conditions on the labour market and reduced employment in agriculture. The group of Polish voivodships that have achieved the greatest progress in regional development have maintained positive demographic perspectives, increased the GDP growth, improved labour market conditions and increased the economic activity of their inhabitants. The results of the study indicate that EU membership is a favourable, but in some cases insufficient, circumstance for raising the overall living standards of households and the performance of enterprises operating in a given region., Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie, Vol. 46 No. 2 (2020), Artykuł prezentuje wyniki badania zmian jakie zaszły w poziomie rozwoju regionalnego w Albanii i we wszystkich województwach w Polsce w latach 2010-2017. Zastosowane dane roczne pochodzą z krajowych urzędów statystycznych i obejmują dwa kryteria socjalne i sześć kryteriów gospodarczych. W badaniu wykorzystano jedną z metod wielokryterialnej analizy decyzyjnej – TOPSIS z wektorową i liniową normalizacja parametrów. Uzyskane wyniki (dla obu metod normalizacji parametrów) wskazują, że w latach 2010-2017 Albania zrobiła największy postęp w rozwoju regionalnego podnosząc go z najniższego poziomu w 2010 roku do porównywalnego z kilkoma polskimi województwami w 2017 roku. W przeciwieństwie do niektórych polskich województw Albania znacznie poprawiła sytuację demograficzną, warunki na rynku pracy i ograniczyła zatrudnienie w rolnictwie. Grupa polskich województwa, które osiągnęły największy postęp w rozwoju regionalnym utrzymały pozytywne perspektywy demograficzne, podniosły dynamikę PKB, poprawiły warunki na rynku pracy i zwiększyły aktywność gospodarczą swoich mieszkańców. Wyniki badania wskazują, że członkostwo w UE jest sprzyjającą, ale w niektórych przypadkach niewystarczającą okolicznością dla podniesienia ogólnych standardów życiowych gospodarstw domowych i wyników przedsiębiorstw działających w danym regionie.

Subject and purpose of work: Cryptocurrencies are a phenomenon that has been strengthening its place in the world of finance for over ten years and which is becoming a frequent investment tool. The aim of this study is to compare the level of risk measures of investments in the cryptocurrency market with investments in global capital markets in 2011-2020. Materials and methods: The study used the quotations of the analysed instruments. The level of risk was estimated using standard deviation and semi-standard deviation of daily logarithmic rates of return. Results: Investment in cryptocurrencies is more risky than in shares of the largest international companies. The level of risk decreases with the duration of the cryptocurrency presence on the market. Conclusions: Achieving extraordinary rates of return generates an increased demand and volatility of cryptocurrencies’ quotations. The level of risk of investing in cryptocurrencies is much higher than in the indexes of global capital exchanges.

Subject and purpose of work: The aim of the article is to present selected aspects of the digitization process of the banking sector in Poland, including the role of the digital channel in the sale of banking products. Materials and methods: The research is of comparative character and is based on data from the financial website PRNews.pl, NBP, KNF and the ECB Bank. Results: Mobile banking in Poland is highly concentrated. In 2016-2019, the five largest banks serviced 82% of all mobile banking customers, and their number increased by 27% annually. Conclusions: Digitization simplifies the process of obtaining and processing information and contributes to reducing operating costs. However it also forces banks to prepare appropriate security and implement costly technological investments. It increases the availability and quality of banking services, and moves customer service from banking branches to the digital channel. Additionally it contributes to reducing the network of branches and the number of employees employed in them.

Subject and purpose of work: The article presents a quantitative change of endogenous factors affecting the development of the Mazowieckie Voivodeship in 2004-2017. Materials and methods: The research uses a comparative analysis based on the data of the Central Statistical Office included in the Local Data Bank and the Statistical Yearbooks of the Mazowieckie Voivodeship. Results: The results of the research show that in 2004-2017 the economic state of the Mazowieckie Voivodeship have significantly improved due to, the expansion of the transportation infrastructure and significant resources of well-educated human capital of the society. Conclusions: To a large extent, the pace of development of the Mazowieckie Voivodeship is impacted by the capital of Poland located there. Other factors favouring the dynamic development of the voivodeship are high density of roads and railway, along with well-educated human capital.

Subject and purpose of work: The article presents an analysis of the use of municipal bonds in financing the development activities of local governments in Poland. Materials and methods: The study uses data from the Ministry of Finance, the European Central Bank, the Central Statistical Office and the CATALYST platform. Results: The results of the research show that the level of using bonds by local governments in Poland is lower than the EU average. Poland's accession to the EU and the inflow of structural funds significantly increased local governments’ interest in the implementation of bonds to fund investments, especially in 2008-2010. Conclusions: A significant part of funds from the issues of municipal bonds was allocated to regional development projects, mainly infrastructure. In 2008-2012 the value of newly issued municipal bonds increased, however, after that the number and value of new issues significantly decreased.

The article empirically examines how the size and legal status of an enterprise influence the technical and scale efficiency of Polish food producers. Technical and scale efficiency indices are measured using the non-parametric DEA method. The study is based on the annual financial reports of 52 sugar and confectionery producers operating in 2006-2016. The analysis covers all enterprises in the sector, as well as groups of larger and smaller enterprises (distinguished by the median of assets), as well as groups of capital companies and cooperatives. Research has shown that enterprises were characterized by relatively high technical efficiency and scale efficiency in the range, respectively, between 82 and 93% and between 93 and 98%. All enterprises operated more efficiently in more favorable macroeconomic conditions. The level of enterprises’ technical and scale efficiency depends on the value of their assets and the legal status. Larger enterprises were less technically effective than smaller ones, but they made greater use of the effect of scale. Capital companies were more effective than cooperatives, but to a lesser extent used economy of scale.

The goal of the analysis is to examine the changes in the structure of insurance products and channels of their distribution in Poland in the years 2002-2008 in the context of the changes taking place in insurance sectors in other EU countries. The research is based on the data on insurance companies obtained from the Polish Financial Authorities, the Polish Chamber of Insurance and the European Federation of Insurers and Reinsurers CEA. The results indicate that insurance companies changed their product structure, inter alia by offering more life insurance as an investment vehicle for household savings, as well as by reducing the share of motor insurance and increasing that of financial and property insurance. Insurers transformed the distribution structure: they significantly increased sales through the banking network and reduced sales through their own facilities and insurance agents and brokers. This trend brings the distribution structure of the Polish insurance sector closer to the structure of insurance sectors in Austria, Belgium, France and Italy, i.e. countries with bank-oriented financial systems.