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WIERZBOWSKA Agata
Graduate School of Economics / Division of Economics
Associate Professor

Researcher basic information

■ Research Keyword
  • banking system
  • monetary policy
  • European economy
■ Research Areas
  • Humanities & social sciences / Money and finance / European Economy, Monetary Policy, Banking system

Research activity information

■ Paper
  • Two years of COIL implementation with an Irish partner university. The influence on Kobe University students’ motivation to study abroad
    Junko Iwatsuki, Agata Wierzbowska
    Mar. 2025, Kobe Journal of Higher Education, 33, 189 - 204, English
    [Refereed]
    Research institution

  • Agata Wierzbowska, Massimiliano Porto
    Springer Science and Business Media LLC, Sep. 2024, SN Business & Economics, 4(10) (10), English
    [Refereed]
    Scientific journal

  • EU banks during and after COVID-19 pandemic and their financing of the green transition
    Agata Wierzbowska
    Mar. 2024, Proceedings of Research World International Conference, New Delhi, India, 1 - 4, English
    International conference proceedings

  • Self-Evaluated Language Skills’ Impact on Language Experiences: Evidence from COIL-based classes between Kobe University and Dublin City University
    Junko Iwatsuki, Sakiko Pawlak, Agata Wierzbowska, David Wolf
    Mar. 2024, Kobe Journal of Higher Education, 32, 239 - 254, English
    [Refereed]
    Research institution

  • Massimiliano Porto, Agata Wierzbowska
    Abstract On 23 June 2016, a referendum was held in the United Kingdom (UK) to decide whether the country should leave or remain a member of the European Union (EU). The ‘Leave’ vote won by 52 per cent to 48 per cent of voters, leading to the EU–UK Withdrawal Agreement that came into force in 2020 and the Trade and Cooperation Agreement that came into force in 2021. Brexit is not exclusively a European matter; it affects third parties as well. In this article we examine the presence of Japanese affiliates in Europe during 2000–21 by analysing data obtained from the Toyo Keizai's Overseas Japanese Companies database. While the UK has been a major beneficiary of Japanese investments in Europe, its share of Japanese affiliates in Europe has decreased, especially during 2000–10. Brexit has had no negative impact on direct employment created by Japanese affiliates in the UK in the short term, but its impact in the long term could be exacerbated by any further policy divergence between the UK and the EU.
    Wiley, Oct. 2023, Economic Affairs, 43(3) (3), 314 - 339, English
    [Refereed]
    Scientific journal

  • Determinants of UK-Japan and UK-Korea Trade in the Light of Trade Agreements, Brexit and COVID-19 Pandemic
    Agata Wierzbowska, Chae-Deug Yi
    Lead, Feb. 2023, Kokumin Keizai Zasshi (Journal of Economics & Business Administration), 227(2) (2), English
    Research institution

  • Sylwester Kozak, Agata Wierzbowska
    Research background: The contribution of banks? non-interest income to the total income becomes particularly important in the face of a severe financial crisis, usually accompanied by burdensome restrictions in economic activity, insolvencies of enterprises and households and low interest rates of central banks.Purpose of the article: This study investigates banks in 40 European countries to determine whether non-interest income had a significant impact on the bank?s profitability and whether the severity of the COVID-19 pandemic influences the form of this relationship.Methods: This study used a linear cross-section model using bank-level data. In the model, the bank?s profitability was regressed with the measure of income diversification, controlling for the pandemic?s intensity and the state of the country?s economy and bank characteristics. Banking data were obtained from the S&P Global MI. The Oxford COVID-19 Government Response Tracker (Hale et al., 2021, pp. 529?538) was the source of pandemic-related variables.Findings & value added: The obtained results indicate that the increases in non-interest income share in the bank?s total income have a statistically significant positive impact on profitability for the European banking sector. The dependence of profitability on diversification was stronger with the growing adverse effects of the pandemic. Our results are in line with those for the US banks (Li et al., 2021) and the European Central Bank Banking Supervision?s assessment that higher non-interest income has allowed banks? profitability in the euro area to be maintained at a pre-pandemic level (ECB, 2021). In addition, the study contributes to previous literature by testing the impact of the severity of the COVID-19 pandemic on the relationship between income diversification and bank profitability in 40 European countries.
    Instytut Badan Gospodarczych / Institute of Economic Research, Mar. 2022, Equilibrium, 17(1) (1), 11 - 29, English
    [Refereed]
    Scientific journal

  • Agata Wierzbowska
    Mar. 2022, Australian and New Zealand Journal of European Studies (ANZJES), 14(1) (1), 31 - 48, English
    [Refereed]
    Scientific journal

  • Brahim Guizani, Agata Wierzbowska
    Informa UK Limited, Jan. 2022, Middle East Development Journal, 14(1) (1), 70 - 94, English
    [Refereed]
    Scientific journal

  • Monetary policy and bank lending in the chosen euro area countries
    Agata Wierzbowska
    Jun. 2021, Kokumin Keizai Zasshi (Journal of Economics & Business Administration), 223(6) (6), 89 - 103, English
    Scientific journal

  • Sylwester Kozak, Agata Wierzbowska
    Abstract The importance of the question about the relationship between concentration and efficiency lies in the fact that banks’ efficiency affects ability to extend loans and ensure financial stability of the banking sector. The study examines this relationship on the example of 150 banks operating between 2005 and 2019 in 11 EU and 8 non-EU countries from the SECE region. The value of profit efficiency was assessed with the stochastic frontier approach, and next regressed with the banking market concentration and bank specific and macroeconomic explanatory variables. The results for the entire sample as well as for domestic and foreign-owned banks indicate that concentration positively and nonlinearly impacts bank efficiency, both in EU and non-EU countries. Moreover, the size of a bank and income diversification help to improve efficiency of banks in the SECE region. The study shows that banks in SECE countries seem to follow the efficient structure hypothesis.
    Walter de Gruyter GmbH, Jun. 2021, South East European Journal of Economics and Business, 16(1) (1), 38 - 52, English
    [Refereed]
    Scientific journal

  • Sylwester Kozak, Agata Wierzbowska
    Jun. 2021, Business and Economic Horizons, 16(1) (1), English
    [Refereed]
    Scientific journal

  • Agata Wierzbowska
    Jun. 2021, Panoeconomicus, 68(3) (3), 293 - 323, English
    [Refereed]
    Scientific journal

  • Empirical evidence on the determinants of economic growth in the European Union: what effects of integration?
    Agata Wierzbowska
    May 2021, EU Studies in Japan, (41) (41), 177 - 203, English
    [Refereed]
    Scientific journal

  • European banks and crisis: bank action, system stability, and financial integration (in Japanese)
    Wierzbowska Agata
    May 2020, Credit Theory Studies, (38) (38), Japanese
    Symposium

  • Bank efficiency and concentration of the banking sector in the CEE countries
    Sylwester Kozak, Agata Wierzbowska
    Dec. 2019, The Scientific Journal European Policies, Finance and Marketing, 22(71) (71), 77 - 89, English
    [Refereed]
    Scientific journal

  • Retail bank rates, bank lending, and monetary policy in the euro area: changing relationships and the crisis
    Agata Wierzbowska
    Oct. 2019, Kokumin Keizai Zasshi, 220(4) (4), 77 - 91, English
    Research institution

  • Agata Wierzbowska, Masahiko Shibamoto
    This article studies the determinants of size differentials between fiscal multipliers in countries around the world, both advanced and developing economies. We introduce variables not considered before for explaining multiplier size differentials, such as capital flows and the openness of capital markets, while controlling for domestic conditions and exchange rate regimes. We also disaggregate GDP into its main components in order to identify the channels through which external and internal factors can influence GDP after a change in fiscal policy. Our results point to the existence of a new channel through which fiscal policy effectiveness is affected. Capital flows, especially FDI flows, play an important role in determining the sizes of fiscal multipliers, and a country’s external conditions largely explain GDP changes after fiscal expenditure shocks. Our results also point towards a strong link between a country’s international position and its real economy.
    Routledge, Jul. 2018, Applied Economics, 50(32) (32), 3493 - 3514, English
    [Refereed]
    Scientific journal

  • Banking sector, financial integration, and monetary policy in the euro area in the context of the financial and sovereign debt crisis
    Agata Wierzbowska
    Jan. 2018, Kokumin Keizai Zasshi, 217(1) (1), 73 - 88, English
    Research institution

  • Cross-country evidence on determinants of fiscal policy effectiveness – the role of capital flows and a country’s international trade and financial position.
    Agata Wierzbowska, Masahiko Shibamoto
    RIEB, Kobe University, Mar. 2015, Discussion Paper Series, DP 2015-08, English
    Research institution

  • Agata Wierzbowska
    Feb. 2015, Japanese Journal of Monetary and Financial Economics, 3(1) (1), pp. 1 - 29, English
    [Refereed]
    Scientific journal

  • Agata Wierzbowska
    2015, European Journal of Business and Economics, 10(2) (2), English
    [Refereed]
    Scientific journal

  • Effects of euro area shocks to Central and Eastern European EU member states in the context of global spill-overs’ problem and euro adoptions
    Agata Wierzbowska
    Dec. 2014, Kobe University, Graduate School of Economics, English
    Doctoral thesis

  • Transmission of euro area monetary policy shocks. Implications for euro adoption and success of common monetary policy
    Agata Wierzbowska
    Kobe University, Mar. 2014, Rokkodai Ronshu, 59(1) (1), 17 - 34, English
    Research institution

■ MISC
  • European Economy [in: Walk of Economics] (in Japanese)
    Agata Wierzbowska
    Mar. 2023, Japanese

  • Things to learn from Brexit (in Japanese)
    Agata Wierzbowska
    2018, 経済学・経営学学習のために, 後期号, Japanese
    Introduction other

■ Books And Other Publications
  • Bank Profitability in Europe Before and After the Global Financial Crisis: Leverage, Foreign Claims, and Monetary Policy [in:] Global Financial Flows in the Pre- and Post-global Crisis Periods
    Agata Wierzbowska, Yoichi Matsubayashi
    Joint work, Springer, 2022

  • Monetary policy and financial stability since the crisis: euro systemic risk and “doing whatever it takes” ECB [in:] Resilient EU (M. Yoshii ed.) (in Japanese)
    Agata Wierzbowska
    Joint work, joint author, Keiso Shobo, Mar. 2021, Japanese

■ Lectures, oral presentations, etc.
  • Does Economic Growth Undermine Democracy? Economic Factors behind the De-Democratisation in Central and Eastern Europe
    Agata Wierzbowska
    Economics Seminar, Kobe University, May 2025
    Oral presentation

  • Banking sector in the EU and climate change-related risks
    Agata Wierzbowska
    European Union Studies Association Japan, Nov. 2024, Japanese
    Oral presentation

  • Banking sector in the EU and climate change-related risks
    Agata Wierzbowska
    Kansai EU Kenkyukai, Jun. 2024, Japanese
    Oral presentation

  • Banking sector in the EU and climate change-related risks
    Agata Wierzbowska
    EUSAAP Conference 2024, May 2024, English
    Oral presentation

  • EU banks during and after COVID-19 pandemic and their financing of the green transition
    Agata Wierzbowska
    International Conference on Economics and Finance Research, Mar. 2024, English
    Oral presentation

  • COVID-19 pandemic and agriculture in Japan
    Agata Wierzbowska
    Scientific conference “Transmission and Effects of the COVID-19 pandemic in the agricultural sector”, Warsaw University of Life Sciences (SGGW), Dec. 2023, English
    Oral presentation

  • Banking sector size and economic performance in the euro area countries
    Agata Wierzbowska
    15th International Financial and Banking Forum, Warsaw University of Life Sciences (SGGW), Nov. 2023, English
    Oral presentation

  • Banking sector in the EU and challenges of climate change
    Agata Wierzbowska
    Faculty Meeting, Department of Economics and Economic Policy, Warsaw School of Life Sciences (SGGW), Nov. 2023, Polish
    Others

  • Banking sector and economic performance in the euro area countries
    Agata Wierzbowska
    32nd RSEP Conference, Sep. 2023, English
    Oral presentation

  • Banking sector and economic performance in the euro area countries
    Agata Wierzbowska
    44th EBES Conference, Jul. 2023, English
    Oral presentation

  • Did the COVID-19 pandemic amplify the positive impact of income diversification on the profitability of European banks?
    Sylwester Kozak, Agata Wierzbowska
    “This time is different?” International Conference organized by Department of Banking and Global Financial System, Cracow University of Economics, Apr. 2023, English
    Oral presentation

  • The UK-Japan and UK-Korea sectoral trade: patterns and impacts of FTAs in light of Brexit
    Agata Wierzbowska
    Korea-Japan Joint International Seminar: Economic Effects of UK-Japan-Korea FTA and Brexit, Feb. 2023, English
    Public discourse

  • The UK-Korea and UK-Japan trade: developments and impacts of FTAs in light of Brexit
    Agata Wierzbowska
    81st Annual Meeting of the Japan Society of International Economics, Oct. 2022, English
    Oral presentation

  • Financial development, banking sector and growth in the European Union
    Agata Wierzbowska
    Monetary Economics Seminar of Kobe University, Aug. 2022, Japanese
    Oral presentation

  • European banks and banking sector amid Covid-19 pandemic
    Agata Wierzbowska
    608th Economics Seminar, Kobe University, Dec. 2021, Japanese
    Oral presentation

  • Responsiveness of Global Britain exports to trading partners economy: evidence from Australia, Canada, India, Japan, Korea, and New Zealand
    Agata Wierzbowska, Massimiliano Porto
    International Conference of the Japan Economic Policy Association, Nov. 2021, English
    Oral presentation

  • European banking market and bank lending amid Covid-19
    Agata Wierzbowska
    EUSAAP Conference 2021, Jun. 2021, English
    Oral presentation

  • Determinants of economic growth in the European Union: what effects of integration?
    Agata Wierzbowska
    EUSA-JP the 41st Annual Conference, Nov. 2020, Japanese
    Oral presentation

  • Banking market concentration and bank efficiency. Evidence from the South, East and Central Europe
    Agata Wierzbowska
    ERFIN Workshop 2020, Sep. 2020, English
    Oral presentation

  • Integration and other determinants of growth in Europe
    Agata Wierzbowska
    Kansai EU Society, Aug. 2020, Japanese
    Oral presentation

  • European banks after the euro: market integration, crisis, and system stability
    Agata Wierzbowska
    Monetary Economics Seminar, Matsuyama University, Nov. 2019, Japanese, Domestic conference
    [Invited]
    Oral presentation

  • European banks and the crisis: bank behaviour, system stability, and financial integration
    Agata Wierzbowska
    Japan Society for the Study of Credit Theory, Oct. 2019, Japanese, Domestic conference
    Oral presentation

  • Financial integration and bank lending in euro area
    Agata Wierzbowska
    Kansai EU Society, Sep. 2019, Japanese, Domestic conference
    Oral presentation

  • Financial stress in euro area: implications for real economy, monetary policy, and financial integration
    Agata Wierzbowska
    Spring Meeting of Japan Society of Monetary Economics, May 2019, Japanese, Domestic conference
    Oral presentation

  • Losing of benefiting? Integration in Europe and its impacts
    Agata Wierzbowska
    “Brexit & Development in Europe” International Academic Conference, Apr. 2019, English, Tamkang University, International conference
    [Invited]
    Invited oral presentation

  • Financial stress in euro area: implications for real economy, monetary policy, and financial integration
    Agata Wierzbowska
    Academic Seminar SENAMEK, Mar. 2019, Warsaw School of Economics, International conference
    Oral presentation

  • Bank profitability and market structure in Germany: impact of the global financial crisis and regional differences
    Agata Wierzbowska, Yoichi Matsubayashi
    ERFIN Workshop 2018, Sep. 2018, English, International conference
    Oral presentation

  • Bank Profitability in Europe Before and After the Global Financial Crisis: Leverage, Foreign Claims, and Monetary Policy
    Agata Wierzbowska, Yoichi Matsubayashi
    RIEB Seminar, Aug. 2018, Japanese, Domestic conference
    Oral presentation

  • Financial stress in euro area: implications for financial integration, monetary policy, and real economy
    Agata Wierzbowska
    EU Studies Association Japan, Kansai section meeting, Jul. 2018, Japanese, Domestic conference
    Oral presentation

  • Financial integration in euro area – post-crisis fragmentation, its impacts and counter-measures
    Agata Wierzbowska
    EUSAAP Conference, Taiwan, Jun. 2018, English, International conference
    Oral presentation

  • Retail bank rates, bank lending and monetary policy in the euro area
    Agata Wierzbowska
    Spring Meeting of Japan Society of Monetary Economics, Tokyo, May 2018, Japanese, Domestic conference
    Oral presentation

  • Orbis Bankの利用例:ドイツ銀行の収益率に関する分析
    Agata Wierzbowska
    Rokko Forum, Apr. 2018, Japanese, Domestic conference
    Oral presentation

  • EU's Regional Economic Differences: Convergence or Divergence?
    Agata Wierzbowska
    Jean Monnet Centre of Excellence Mini-Symposium for High School Students, Feb. 2018, English, Kinran Senri Junior & Senior High School, Domestic conference
    Public discourse

  • Retail bank rates, bank lending and monetary policy in the euro area
    Agata Wierzbowska
    経済学会第566回例会, Oct. 2017, Japanese, 神戸大学経済学研究科, Domestic conference
    Oral presentation

  • Bank profitability in Europe before and after the global financial crisis
    Agata Wierzbowska, Yoichi Matsubayashi
    Modern Monetary Economics Summer Institute (MME), Sep. 2017, Japanese, Domestic conference
    Oral presentation

  • Output and inflation effects of ECB monetary policy: standard and non-standard monetary policy steps
    Agata Wierzbowska
    Hanyang-Kobe-Nanyang Joint Symposium in Economics, Jun. 2016, English, Hanyang University, International conference
    Oral presentation

  • The effects of ECB monetary policy on bank lending in euro area since the outset of global financial crisis
    Agata Wierzbowska
    Western Economic Association International, Jan. 2016, English, Nanyang Technological University, Singapore, International conference
    Oral presentation

  • The effects of ECB monetary policy on bank lending in euro area since the outset of global financial crisis
    Agata Wierzbowska
    Autumn Meeting of Japan Society of Monetary Economics, Oct. 2015, English, 東北大学, Domestic conference
    Oral presentation

  • Cross-border transmission of macroeconomic conditions. The case of euro area and Central and Eastern European countries
    Agata Wierzbowska
    International Conference on Business and Social Sciences, Mar. 2015, English, Osaka, Japan, International conference
    Poster presentation

  • Financial markets in Central and Eastern European countries and their role in transmission of foreign monetary policy shocks
    Agata Wierzbowska
    Autumn Meeting of Japan Society of Monetary Economics 2014, Oct. 2014, Japanese, Yamaguchi University, Domestic conference
    Oral presentation

  • Cross-Country Evidence on Determinants of Fiscal Policy Effectiveness. The Role of Capital Flows and Country's International Trade and Financial Position
    Agata Wierzbowska, Masahiko Shibamoto
    Modern Monetary Economics Summer Institute, Sep. 2014, English, 神戸大学金融研究会, Kobe University, Domestic conference
    Oral presentation

  • Transmission of euro area monetary policy shocks. Implications for euro adoption and success of common monetary policy
    Agata Wierzbowska
    Workshop at KU Leuven, Belgium, Mar. 2014, English, International conference
    Oral presentation

■ Affiliated Academic Society
  • Monetary Economics Seminar of Kobe University

  • The Japan Society of International Economics

  • THE EUROPEAN UNION STUDIES ASSOCIATION-JAPAN

  • JAPAN SOCIETY OF MONETARY ECONOMICS

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