Search results

1

Kierunki geograficzne polskich inwestycji za granicą

100%

Ostrowska E.

Przegląd Prawa i Administracji

|

2013

|

vol. 94

113 - 121

EN

Polish direct investment flows have been directed abroad since the 1990s. These flows were very small. Since 2005 they have increased rapidly, particularly to the European countries. Polish enterprises invest mainly in Luxembourg, Belgium, the Netherlands, Great Britain and in Germany. Besides Europe Polish investments are directed to the USA and to Central America to the tax paradises. Majority of them have financial and not productive capacity. Polish FDIs are involved in manufacturing, services, financial and insurance activities.

2

Does withholding tax on interest limit international profit-shifting by FDI?

80%

Białek-Jaworska A., Klapkiv L.

Equilibrium. Quarterly Journal of Economics and Economic Policy

|

2021

|

vol. 16

|

issue 1

11-44

EN

Research background: Poland is a significant recipient of intercompany loans as a part of foreign direct investment (FDI) debt instruments reported in the Balance of Payments. Most of them come from the developed West European countries ? Netherlands, Luxembourg, France, Germany, and Belgium. Igan et al. (2020) confirm debt-based FDI inflows to emerging markets had a higher impact on the industries? growth in the pre-crisis period 1998?2007 than after (till 2010). Purpose of the article: We aim to identify withholding tax (WHT) impact on intercorporate loans inflow to Poland and analyse the relationship between trade credit and intercompany loans to assess the importance of the profit-shifting role of FDI after 2010. Methods: To reflect the impact of withholding tax and trade credit on inter-company loans (inward debt-based FDI) in 2011?2017 to Poland, we use Arellano-Bond and random effects panel model estimators. The estimated specification is derived from the knowledge-capital model and includes two types of capital: human and physical. Findings & value added: We show that WHT on interests reduces profit-shifting by multinational companies? intercompany lending to Poland. But intercompany loans are positively related to foreign trade credit. Unlike in the case of total FDI inward to Poland (Cieślik, 2019), we identified that vertically integrated multinational enterprises are more likely to provide loans to Polish firms. This study is the first to confirm that withholding tax of interests reduces international profit-shifting by FDI and to provide evidence on the relation-ship between foreign trade credit and intercompany loans provided by multi-national companies.

3

Zagraniczne spółki zależne polskich przedsiębiorstw – propozycja problematyki badawczej

80%

Ćwik K.

Nauki o Zarządzaniu

|

2015

|

issue 2(23)

9-25

EN

The paper undertakes a discussion on foreign subsidiaries of Polish companies. The scale of Polish foreign direct investment (FDI) continues to grow and this means that soon there may be a gap between business practice and knowledge of management science. The author proposes the hypothesis which states that Polish FDI do not run according to the processes proposed by the phase models (e.g. Uppsala model), but they have a certain degree of leapfrogging. The initial phase of internationalization of Polish enterprises and their motives led the author to the formulation of two other hypotheses regarding the roles foreign subsidiaries play within the Polish international companies. One is that foreign subsidiaries of Polish enterprises play, in most cases, a role called the implementer by typology of Ch.A. Bartlett and S. Ghoshal, and the second is, that in most cases, these are the entities that in the typology of A.K Gupta and V. Govindarajana are called implementor.

4

Foreign Direct Investments in Poland - Report for the End of 2004 and New Facts

80%

Kozuń-Cieślak G.

Folia Oeconomica Stetinensia

|

2008

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vol. 7

|

issue 1

63-86

EN

Joining the European Union is regarded as a chance for Poland to improve its economic growth and to catch up the EU-15 wealth level. However, it is necessary to remember that this is going to be a difficult and long-lasting process, where success is possible only on the condition that suitable economic policy is implemented. Such policy should provide stable frameworks to support business development, attract foreign direct investments (FDI), keep the discipline in public finances and assure the right institutional ability and managerial skills to absorb the EU funds. In the study:- FDI inflows to Poland and other new EU member states have been evaluated from the viewpoint of the size of the economy represented by its GDP per capita;- The amount of FDI inward stock in Poland over the years 1993-2004 and its structure from the viewpoint of the investor's country of origin and sector of allocation have been evaluated (data published by PAIiIZ);- The activity of foreign capital in special economic zones (SEZ), entrepreneurship-supporting enclaves in the regions characterised by extremely difficult socio-economic conditions, has been identified;- FDI inflows to Poland in 2005-2007 (data published by NBP) have been presented.According to the estimates, appropriate economic transformation in Poland and keeping a 5% economic growth rate in Poland require approx. USD 10 billion of annual FDI inflow. With regard to those forecasts, the amount of FDI inflow to Poland seems to be insufficient to keep the desired economic growth rate, and the investment incentives in the form of special economic zones do not meet expectations.

5

Atrakcyjność inwestycyjna a napływ bezpośrednich inwestycji zagranicznych (na przykładzie wybranych krajów Europy Środkowo-Wschodniej)

80%

Kisiel R., Graszkiewicz K.

Przegląd Wschodnioeuropejski

|

2018

|

vol. 1

33-48

EN

The aim of this study is to compare the investment attractiveness of six selected countries of Central and Eastern Europe, namely Poland, Lithuania, Latvia, Estonia, Belarus and Ukraine. The basic data used to examine the level of investment attractiveness in these countries were the basic macroeconomic indicators, i.e. the level of GDP in global and per capita terms, average salary, inflation and unemployment rate. In the next step, international economic rankings were used, as a result of which it was possible to classify the countries in perspective of their competitiveness, prevailing legal regulations for running a business and the scope of economic freedom.

6

Umowy inwestycyjne Unii Europejskiej i jej państw członkowskich – porównanie BIT i RTA

80%

Słok-Wódkowska M., Śledziewska K.

International Business and Global Economy

|

2014

|

vol. Volume 33

33–46

EN

At the end of 2013, the European Union and China announced the start of negotiations on a bilateral investment agreement. It will be the first agreement signed by the European Union as a partner, and not by its member states. However, almost all of the UE member states have already signed this type of agreements with China. This raises the question of the added value of new contracts entered into by the European Union. Will the new agreement be able to attract new investors? The aim of this study is to demonstrate how the agreements concluded by the EU countries have influenced the volume of stock of foreign direct investment. This paper proposes an analysis of BIT and FTA & EIA agreements and then presents the results of an empirical study based on FDI stocks of the European Union countries.

7

Capital Accumulation in a Region. Cooperatives Versus Foreign Direct Investments

80%

Zimnoch K.

Ekonomia i Zarzadzanie

|

2016

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vol. 8

|

issue 3

15-24

EN

The main aim of this article is to demonstrate the ability of cooperatives to create internal resources of a region through foreign direct investments and the creation of financial, physical, human, and social capital. It concerns the comparing and emphasizing of the stability of resources created in a region by these forms of action. In order to demonstrate the stability of internal resources of a region, generated through foreign direct investment, a research was conducted involving the analysis of the rankings of the largest foreign investors in Poland, statistical data from the Central Statistical Office and the NBP, showing the inflow and outflow of FDIs, the number of companies with foreign capital participation, and the number of people working in them. In addition, a case study was used for the regions where the investments have been withdrawn, showing the importance of cooperatives for the stabilization of the potential of the regions. The study shows that the transfer of FDIs is always guided by the maximization of profit, tax optimization of a location, and the native currency exchange rate fluctuations. The following consequences of withdrawal have no significance to foreign investors but affect the regions: the increase in the unemployment rate, the reduction in the income of local residents, the increase in debt, the acquisition of real estate purchased on credit. The case study shows that cooperative enterprises can replace foreign capital in the region, ensuring the stability and durability of its internal resources. The concepts and strategies for regional development should focus on cooperatives as a way to create the internal resources of a region, which are seen as the current development source. Co-operatives can prevent the leaching of resources and backwash effects. The economic policy must ensure the equal treatment of all of the entities investing in the region. Currently, Poland gives the priority to foreign investors over the domestic ones. Cooperative enterprises are particularly discriminated against through double taxation. It is worthwhile to examine the scale of the cooperative movement in the economy of the EU and the US and the policy instruments applied to this form of business in those areas.

8

Bezpośrednie inwestycje zagraniczne w specjalnych strefach ekonomicznych – problemy i dylematy

80%

Klimek D.

Kwartalnik Naukowy Uczelni Vistula

|

2018

|

issue 2(56)

60-71

PL

Celem artykułu jest identyfikacja problemów i dylematów związanych z bezpośrednimi inwestycjami zagranicznymi w specjalnych strefach w Polsce i próba znalezienia odpowiedzi na pytanie, czy, wobec zmiany roli stref i ich lokalizacji na terenie praktycznie całego kraju, nie należy znieść ich granic i udzielać pomocy publicznej na terenie całego kraju ? Artykuł składa się z dwóch części. W pierwszej autor identyfikuje i charakteryzuje wielkość i rodzaj bezpośrednich inwestycji w specjalnych strefach ekonomicznych w Polsce. Druga to rozważania autora dotyczące problemów i dylematów związanych z funkcjonowaniem tych stref.

EN

The aim of the article is to identify the problems and dilemmas related to foreign direct investments in special economic zones in Poland and to try to find an answer to the question whether, having in mind the change of the role of zones and their location in the territory of practically the entire country, their boundaries should be abandoned and the public aid should be provided throughout the country. The article consists of two parts. In the first part, the author identifies and characterises the volume and type of direct investments in special economic zones in Poland. The second part is author’s considerations of the problems and dilemmas related to these zones’ functioning.

9

Economic crisis impact on Remittances and Migration level in Albania

70%

Shera A., Shehaj A.

Academicus. International Scientific Journal

|

2014

|

issue 10

39-54

EN

Remittances of international migrants as the second largest flow of incomes contribute to the well-being of their households of origin and also have an impact at macro-economic level. Out-migration is an effective means for low-income households to quickly overcome shortages of income. The sustenance of poor households might have been more difficult without such remittances. From a macro perspective, remittances contribute to the equalization of the income distribution among households having out-migrants. Remittances have enforced the Albanian economy since 1992 especially they had a positive and large contribution in consumption level, investment and GDP. But the economic crisis of 2008 has affected large sectors of the population in developed and developing nations and international immigrants have not been the exception because there have been an economic downturn. Remittances in Albania represent the second main source of incomes and this study documents the recent slowdown in workers’ remittances, the money that international immigrants send back home. Current data indicates that remittance flows have slowed for all regions of the globe. This paper tries to analyze the impact of the economic crisis on remittances level and also the negative impact of their slowdown in the Albanian economy.

10

Taxation and its effect on foreign direct investments – the case of Romania

70%

Nistor I.-A., Păun D.

Nauki o Finansach

|

2013

|

issue 3 (16)

37-47

EN

This paper focuses on the link between taxation and foreign direct investments and the struggle of governments to create a tax regime that would attract investors on the one hand and on the other hand increase revenues. The paper wants to test if the economic development of a country represented in consumption (measured in VAT income for the country) and production (measured in the change in Corporate Income Tax) would create an increase in Foreign Direct Investments. Based on a series of models of multiple regressions we test if the FDI is influenced by income obtained through Corporate Income Tax and Value Added Tax.

11

Are Foreign Direct Investment Contribution to The Economic Growth of Transition? / Da Li Strane Direktne Investicije Doprinose Privrednom Rastu Zemalja U Tranziciji?

70%

Nestorović O.

Economic Themes

|

2015

|

vol. 53

|

issue 2

267-277

EN

The main aim of this paper is to show whether foreign direct investments affect the development of transition countries. This paper represents an empirical model where you analyze sixteen countries in transition in the 10-year period. The existence of a positive correlation between the level of incoming foreign direct investments and economic characteristics of the economy, as well as its competitiveness, is obvious in numerous studies that have studied this subject, but there are also some opposite standpoints. The increase of foreign direct investments in host country by itself does not imply a positive impact on economic growth, but it depends on numerous factors such as human capital, financial structure development, macroeconomic stability and other institutional factors.

12

Offshoring trends and foreign direct investments in the Middle Europe and BRIC area

70%

Chłopek P. S.

Nauki o Zarządzaniu

|

2013

|

issue 1(14)

11-23

EN

The changes we are witnessing have a crucial role in the nature of the global economy. Continuous globalization processes and the blurring of boundaries between countries allow businesses operate in a never seen before scale. One important effect of the increasing integration of the world economy is a rising importance of possibilities to offshore and outsource value-creating activities. In many industries, firms are able to disaggregate their value chains into smaller parts. This process allows for a less path-dependent approach to the firm’s ideal location profile (through offshoring and relocation) and control strategies (through outsourcing). Undoubtedly, offshoring based on information and communication technology now experiences its heyday. The main aim of this article is to show importance of offshoring and foreign direct investments for developing countries such as Poland, Czech Republic, and more generally speaking the Middle Europe and BRIC area. The article explains the concept of offshoring and its prospects, giving examples of companies like Apple, HP, IBM, Credit Suisse, UBS, Irevna, McKinsey & Co., Siemens, Google and Microsoft. Offshoring advantages and disadvantages were highlighted.

13

The role of foreign-owned entities in building economic resilience in times of crisis: The case of European digital and technologically-intensive firms during the Covid-19 pandemic

70%

Umiński S., Nazarczuk J. M., Borowicz A.

Equilibrium. Quarterly Journal of Economics and Economic Policy

|

2023

|

vol. 18

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issue 3

751-777

EN

Research background: Over the decades, foreign-owned entities (FOEs) have become an important part of the economic landscape considered as behemoths of globalisation, but also transmitters of positive effects such as technology or know-how spillovers. In times of volatility and uncertainty, firms’ contribution to building a resilient economy is at the top of the public agenda. Purpose of the article: The purpose of the article is two-fold. Firstly, we test, how FOEs perform in this stressful time of volatility and uncertainty. Secondly, we examine the contribution to resilience by digital and technologically intensive sectors. Methods: The study utilises the Bureau van Dijk (BvD) Orbis firm-level database as a primary data source. The results are derived with the use of two econometric approaches. Firstly, we estimate a static model utilising the ordinary squares estimator. Secondly, we re-estimate the equations using a two-step System GMM estimator. It introduces a lagged dependent variable into the model and implements a correction for endogeneity among covariates by including instruments (in levels and differences). Findings & value added: We use size, age, ownership, gearing, and intangibility as firms’ financial performance determinants, together with the sector-, country- and time-fixed effects. FOEs compared to domestic ones generated a higher revenue growth rate. In times of crisis high-tech and digital firms are more resilient. However, ownership does not matter in this respect. We contribute to the discussion about functions performed by FOEs in crisis and turbulent times, in which resilience issues are on top of the agenda. Our research intends to bridge the gap between the performance of FOEs, micro-level analysis, and resilience.

14

Multi-dimensional analysis of regional investment attractiveness in Poland

61%

Roszko-Wójtowicz E., Grzelak M. M.

Equilibrium. Quarterly Journal of Economics and Economic Policy

|

2021

|

vol. 16

|

issue 1

103-138

EN

Research background: A given region's investment attractiveness is a set of conditions that depend primarily on the policy of the country that is the recipient of direct foreign investment, encouraging or discouraging foreign investors from making decisions about locating investments in a given area. These conditions include the economic conditions, the infrastructure, the political and legal system, the business environment, and the sociocultural environment. a foreign investor, the motive for exporting capital abroad is the search for benefits that can be derived from the business activity conducted there, including easier entry into new markets. Purpose of the article: The main aim of the paper is to distinguish groups of voivodeships (NUTS 2 level) that are relatively homogeneous in terms of investment attractiveness, which is conducive to the inflow of foreign capital and the implementation of investment projects involving foreign capital. Methods: Distinguishing groups of voivodeships similar to each other in terms of the level of investment attractiveness is made by applying hierarchical cluster analysis. The dendrogram illustrates the hierarchical structure of clusters of similar objects according to the analysed set of variables. The quality of the clustering result is also assessed by determining the silhouette index. Comparative and descriptive analysis of CSO statistics are additional methods used that have contributed to the achievement of the aim of the paper. The research period covers the years 2000?2018. Findings & value added: The investment attractiveness of a voivodeship is closely related to the level of its economic development. Therefore, the following voivodeships are listed at the top of the investment attractiveness rankings: Mazowieckie, Dolnośląskie, Śląskie, Małopolskie, and Pomorskie. The conducted study has confirmed that the creation of special economic zones and the development of regional smart specialisations contribute to the inflow of foreign capital. It is worth noting that the assessment of investment attractiveness is relative. The comparison of the innovative attractiveness of voivodeships is based on the use of the average value, overestimated by cities, i.e. central hubs, attracting investors. The regional perspective on investment attractiveness using multi-dimensional statistical analysis methods is the added value of the article.

15

Działania gmin i powiatów wspierające napływ bezpośrednich inwestycji zagranicznych w regionie łódzkim

61%

Dorożyński T., Urbaniak W.

Studia Prawno-Ekonomiczne

|

2011

|

vol. LXXXIV (84)

267-289

EN

The article was prepared on the basis of the results of a questionnaire survey, the literature of the subject, analysis of national and EU legislation, and regional data from the Central Statistical Office. Interviews were conducted with representatives of nearly a half of local–government units (LGU) in the voivodeship of Lodz. The main aim of this article is to evaluate the activities by local government with respect of attracting and retaining foreign direct investments.

16

The Impact of European Integration Processes on Poland's Foreign Trade

61%

Juszczak-Szumacher G., University of Lodz

Acta Universitatis Lodziensis. Folia Oeconomica

|

2008

|

vol. 223

EN

This study is concentrated on the analysis of the Polish foreign trade in the period 1995-2005. First the dynamics and the structure of foreign trade were characterized, then the values of Grubel-Lloyd index were presented. This index expressing intra-industry trade intensity was calculated using 3-digit SITC classification to construct five commodity groups (material-intensive, labour-intensive, capital-intensive. Technological-intensive: high-tech and medium-tech) and twelve PKWiU classification groups. Grubel-Lloyd index was rising in analysed period, so it indicates growth of the Polish economy competitiveness. The crucial part of discussed study was the regression analysis testing the hypothesis concerning the influence of some economic factors on Grubel-Lloyd index. This analysis was carried out using time series data or alternatively panel data. The conclusion was, that the intra-industry trade intensity depends on technical progress realize in the Polish economy, expressed by foreign direct investments, relation between investment outlays on machinery and equipment to output, as well as share of new and modified products in the total output.

PL

W opracowaniu dokonano analizy wymiany handlowej Polski z zagranicą w okresie 1995-2005. W pierwszej kolejności scharakteryzowano dynamikę i strukturę obrotów według grup krajów i grup towarowych, a następnie zaprezentowano wartości wskaźnika intensywności handlu wewnątrzgałęziowego Grubela-Lloyda wyznaczone na podstawie danych o 3-cyfrowej klasyfikacji SITC dla pięciu grup towarowych (towary surowcochłonne, pracochłonne, kapitałochłonne oraz intensywne technologicznie łatwe i trudne do imitowania) oraz dwunastu grup klasyfikacji PKWiU. Wskaźnik ten wykazuje wyraźny wzrost w badanym okresie, co świadczy o zwiększaniu się konkurencyjności gospodarki polskiej. Najważniejszą częścią opisywanego badania była analiza regresji testująca hipotezy o wpływie wyspecyfikowanych czynników na zmiany wskaźnika intensywności handlu wewnątrzgałęziowego. Przeprowadzono ją w kilku wariantach, przy wykorzystaniu próby czasowej dla każdej z 12 grup towarowych, a także z zastosowaniem próby przekrojowo-czasowej. Analiza ta wykazała, iż w polskiej wymianie handlowej o udziale handlu wewnątrzgałęziowego decydują czynniki związane z realizowaniem się w gospodarce postępu technicznego, takie jak bezpośrednie inwestycje zagraniczne, relacja nakładów na maszyny i urządzenia do produkcji sprzedanej oraz udział nowych wyrobów w produkcji sprzedanej.

17

Ewolucja determinant podejmowania bezpośrednich inwestycji zagranicznych w Polsce

61%

Jaworek M., Karaszewski W.

Kwartalnik Naukowy Uczelni Vistula

|

2018

|

issue 2(56)

42-59

PL

W artykule poruszono problematykę determinant podejmowania bezpośrednich inwestycji zagranicznych (BIZ). W pierwszej części nakreślono ramy teoretyczne tematu, w drugiej zaprezentowano wyniki badań własnych oraz badań przeprowadzonych przez różne ośrodki, których zakres przedmiotowy obejmował rozpoznanie motywów podejmowania BIZ w Polsce. Ponadto przedstawiono wyniki badań własnych dotyczących motywów podejmowania BIZ w województwie kujawsko-pomorskim. Celem opracowania jest zaprezentowanie zmian najważniejszych motywów podejmowania BIZ w Polsce w latach 1990-2017, w perspektywie krajowej i regionalnej. Wyniki badań wskazują, że motywy BIZ w Polsce ulegają zmianie. W przeciwieństwie do okresu początkowego, kiedy zwłaszcza koszty pracy miały podstawowe znaczenie, obecnie obserwuje się coraz większą rolę cech jakościowych (kwalifikacje, umiejętności pracowników itd.). Ponadto, zaprezentowane wyniki cyklicznych badań regionalnych ukazują wyraźne różnice czynników determinujących wybór kraju lokaty oraz wybór konkretnego regionu w ramach danego kraju. Ujawnione zmiany zachodzące w motywach wyboru lokalizacji BIZ oraz różnice motywów decydujących o wyborze kraju i regionu uzasadniają potrzebę prowadzenia ciągłych badań mających na celu ich rozpoznawanie z perspektywy czasu jak i z różnych poziomów lokalizacji.

EN

In their article, the authors touched the problems of the determinants of undertaking foreign direct investments (FDI). In its first part, they gave the theoretical background of the topic’ in the second, they presented findings of their own research as well as research conducted by various centres whose object scope covered recognition of the motives for undertaking FDI in Poland. Moreover, the authors presented findings of their own research on the motives to undertake FDI in Kuyavian-Pomeranian Voivodeship. The aim of the paper is to present changes of the most important motives to undertake FDI in Poland in 1990-2017, in the national and regional perspective. The research findings indicate that the motives for FDI in Poland have been changing. Contrary to the initial period, when especially labour costs were of the basic importance, at present there is observed the ever growing role of qualitative traits (employees’ qualification, skills, etc.). Moreover, the presented results of cyclical regional surveys show clear differences in the factors determining the choice of the country of placement and the choice of specific region within a given country. The revealed changes occurring in the motives for selection of FDI location deciding the choice of the country and region justify the need to carry out continuous research aimed at recognition thereof with hindsight and from different levels of location.

18

Bezpośrednie inwestycje zagraniczne w kształtowaniu innowacyjnych obszarów województwa podkarpackiego

61%

Balicki M.

Świat Nieruchomości

|

2014

|

issue 1(87)

59-67

EN

The purpose of this article is to evaluate the role of foreign investments in the development of innovative areas of the Podkarpacie voivodeship. The article presents the information regarding the structure of foreign investments in the voivodeship. Additionally, it analyses their size taking into account the investments in special economic zones, such as: industrial parks and technological-industrial clusters, which are becoming a key factor in the innovative development of the Podkarpacie voivodeship.

PL

Celem artykułu jest ocena roli bezpośrednich inwestycji zagranicznych w kształtowaniu innowacyjności obszarów województwa podkarpackiego. Artykuł zawiera dane dotyczące struktury inwestycji zagranicznych na terenie województwa, jak również analizuje ich wielkość, uwzględniając przy tym inwestycje w Specjalnych Strefach Ekonomicznych, Parkach Przemysłowych oraz klastrach technologiczno-przemysłowych które stają się obecnie kluczowym czynnikiem w rozwoju innowacyjnego Podkarpacia.

19

Rozwój korporacji międzynarodowych i ich wpływ na proces globalizacji gospodarki światowej

61%

Jóźwik B.

Roczniki Nauk Społecznych

|

2006

|

vol. 34

|

issue 3

197-208

EN

The first period of the development of “modern” international corporation falls on the end of the 19th century an early 20th century. It was then that due to innovations in communication it was made possible to co-ordinate and control corporations on the international scale. After the Second World War international corporations actively joined the formation of international economic relations, above all in international trade and foreign investments. Analysing the development and activity of international corporations according to their origin, one may distinguish three stages: the years 1945-1972 – the period of the domination of American corporations; the years 1973-1984 – the period of intensive expansion and an increase in importance of European and Japanese corporations; the period from 1985 on – the economic triad in the world and corporations of the three economic world centres become more important. The fact that the triad system took place is connected with a strong concentration of localisation of mother international corporations in the highly-developed countries, and small importance in the world economy of the corporations from the developing countries. Due to the growing importance of the corporations in shaping international economic relations, this situation makes it that differences increase in the economic development of countries and regions.

20

Zmierzch międzynarodowych przepływów kapitałowych?

51%

Różański J.

Acta Universitatis Lodziensis. Folia Oeconomica

|

2017

|

vol. 3

|

issue 329

EN

This article focus on present and future change in international capital flows in connection with basic tendencies in world economy (financial and economic crisis, autarkic tendencies, growing role of chosen countries, and collapse others), and problems of short or long life of the most famous theories connected with international capital flows. Therefore the two research problems were addressed: 1. As the literature related to foreign investments and international capital flows still presents theories explaining the origins of their occurrence and the conditions in world’s economy since the elaboration of these theories have significantly changed, the attempt to reconsider if the theories are still valid has been made. 2. Do the changes occurring in the global economy lead to reallocation of foreign investments, or rather to their disappearance? Accordingly, the basic assumptions of the most important theories explaining the reasons for making foreign investments has been presented, and subsequently, confronted with contemporary economic realities. Then, on the basis of available statistical data the direction of changes occurring in the value of international capital flows in the countries whose economic importance and share in these flows is relatively greatest has been determined.

PL

Artykuł podejmuje problem zmian występujących w międzynarodowych przepływach kapitałowych na tle ogólnych tendencji w światowej gospodarce (kryzys finansowy i gospodarczy, tendencje autarkiczne, wzrost znaczenia jednych krajów kosztem innych) oraz problem aktualności najbardziej uznanych teorii wiążących się z międzynarodowymi przepływami kapitałowymi. W niniejszym opracowaniu skoncentrowano się na dwóch problemach badawczych: 1. Ponieważ w literaturze związanej z zagranicznymi inwestycjami i międzynarodowymi przepływami kapitałowymi cały czas prezentowane są teorie wyjaśniające genezę tych przepływów, a warunki w gospodarce światowej od czasu opracowania teorii istotnie się zmieniły, podjęta została próba odpowiedzi na pytania, czy, w jakim stopniu i dlaczego teorie te można uznać jeszcze za aktualne. 2. Czy zmiany występujące w gospodarce światowej prowadzą do realokacji inwestycji zagranicznych, czy też do stopniowego ich zaniku? W artykule przedstawiono podstawowe założenia najważniejszych teorii objaśniających motywy podejmowania zagranicznych inwestycji i skonfrontowano je ze współczesnymi realiami gospodarczymi. Następnie, w oparciu o dostępne dane statystyczne, określono kierunek zmian występujących w wartości międzynarodowych przepływów kapitałowych w krajach, których znaczenie gospodarcze i udział w tych przepływach jest relatywnie największy.

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