Open Science Research Excellence
%0 Journal Article
%A Joanna Stawska
%D 2015 
%J  International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering
%B World Academy of Science, Engineering and Technology
%I International Science Index 102, 2015
%T The Impact of the Interest Rates on Investments in the Context of Financial Crisis
%V 102
%X The main objective of this article is to examine the
impact of interest rates on investments in Poland in the context of
financial crisis. The paper also investigates the dependence of bank
loans to enterprises on interbank market rates. The article studies the
impact of interbank market rate on the level of investments in Poland.
Besides, this article focuses on the research of the correlation
between the level of corporate loans and the amount of investments
in Poland in order to determine the indirect impact of central bank
interest rates through the transmission mechanism of monetary policy
on the real economy. To achieve the objective we have used
econometric and statistical research methods like: econometric model
and Pearson correlation coefficient.
This analysis suggests that the central bank reference rate
inversely proportionally affects the level of investments in Poland
and this dependence is moderate. This is also important issue because
it is related to preparing of Poland to accession to euro area. The
research is important from both theoretical and empirical points of
view. The formulated conclusions and recommendations determine
the practical significance of the paper which may be used in the
decision making process of monetary and economic authorities of the
%P 1967 - 1973