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The research results which are presented in this paper aimed to verify the theory which claims that there is a significant relationship between financial market integration on international scale, financial development and economic growth. Our research focused not on the entire financial market but on the segment of equity securities (shares and investment certificates) and debt securities (corporate bonds, treasury bonds, T-Bills). The research was limited to the Polish market of securities and its integration with foreign markets (not only EU financial market but also global financial market) as well as the influence of the degree of this integration on the financial development and economic growth. A research hypothesis was formulated that the integration of the Polish equity securities and debt securities markets with foreign A N N A L E S U N I V E R S I TAT I S M A R I A E C U R I E S K Ł O D O W S K A LUBLIN – POLONIA VOL. LI, 5 SECTIO H 2017

Integration of Polish Equity and Debt Securities Market with Foreign Market and Economic Growth in Poland