NOI TENDINŢE ALE EVOLUŢIEI ISD LA NIVEL GLOBAL. IMPLICAŢII PE PLAN MONDIAL ŞI EUROPEAN.

The present paper captures several dominant trends of the FDI flows worldwide, which became obvious in the last two decades and more and more evident in recent years. Our analysis brings to the forefront the global investment environment, characterized by an increasing complexity through deepening interdependencies between the economies of the world, transformation of TNCs in actors having the force and influence of a nation-state, exacerbation of the role of the tax havens and the intensification of speculative activities on a large scale. These determinants are interrelated with the opacity of the financial system and the often unpredictable nature of the economic actors' behaviour, interlinked with the psychological factor, which by its own nature is unforeseeable. The incessant metamorphoses of the world economy in general and in particular of investment flows are accompanied by a series of implications for all countries of the world, the more the competition between them intensifies, in order to attract and promote FDI. Thus, new guidelines are needed for investment policy, both worldwide and in the EU. This research topic is more significant than ever, since these flows encompass and reflect so clearly the fact that the international financial system "is no longer subordinated to the real economy, but to its own principles, of Ponzi or Casino-type". [ABSTRACT FROM AUTHOR]