Iwo Augustyński
pages: 1-12, JEL classification: F30, G12, G14 , Key words: stock indexes, international capital flow, globalization, Abstract: In this paper the author compared 13stock exchange indexes of American, British and German markets and determined their impact on Polish Wig and WIG20 indexes. The analysis proved that the British FTSE100 and FTSE250 as well as the German DAX had the biggest influence on the Warsaw indexes. The relations among all these indexes were also heavily influenced by the Russian and American economic crisis and Poland’s access to the European Union.