Abstract:

The regional market and the financial system creates numerous processes. In the theory of economics there are many concepts and views regarding the impact of the financial system on economic growth. Most of them indicate that development of the financial system stimulates economic growth. The mission of regional development should involve any and all local (regional) financial institutions, including those that are not banks, such as loan funds and credit guarantee funds. As research studies have shown, there is a positive correlation between development of the financial system and economic growth. Development of the financial system, also in the regional context, understood as increasing the availability of financial services, makes it possible to effectively fight the financial exclusion and to have a positive effect on the regional development [Beck. Demirguc-Kunt, Levine, pp. 1, 29; Beck. Demirguc-Kunt, Martinez Peria, p. 398]. In particular, this regards development of a business model which will significantly support the economic growth of the region, and will be favourably perceived by the local community in view of effective fulfilment of their needs and creating a potential for growth [Kulińska-Sadłocha E., Szambelańczyk J., p. 172].