Innovative economy, and the activity of financial market institutions. Case of Poland

Th e article presents the institutional arrangements in Poland concerning the support of innovative activity of enterprises, mainly in the scope of availability of fi nancing sources. Th e main aim of the study is to assess the activity of fi nancial market institutions in the fi eld of innovations fi nancing and the attempt to present the relations between the availability of capital and the level of economy's innovativeness. Innovativeness of the economy is the result of interrelatedness between companies, science and government, but the factor determining innovativeness is capital availability. Although the off er of funding sources of innovation is wide, it can be argued that its use is unsatisfactory. Mainly banks are responsible for such a situation, which are characterized by, in addition to certain regulatory restrictions, risk aversion. Banks, achieving fi nancial benefi ts during conducted activities, do not see, so far, a need to engage in risky ventures, that innovation fi nancing is considered.