GLOBAL CHANGES IN THE INTERNATIONAL MOVEMENT OF CAPITAL: THE ROLE OF THE COUNTRIES WITH DEVELOPING MARKETS

The authors analysed cost and geographical features of the process of global FDI. To determine whether principles of expanding diffusion is applicable for studying FDI, authors calculated the proportion of 10, 5, 3 leading countries of the world total in accumulated inward and outward FDI in 1980, 1990 and 2015. Authors ranked countries by FDI's imports and exports shares from the world's FDI performance to analyse the extent of involvement of countries in the process of migration of FDI. Authors found that FDI has been changing in the volume of capital flows, in the structure, and destinations. Recent decades can be marked with spatial shift in attracting FDI: an increasingly prominent position in attracting capital occupied by countries with developing markets. In addition, conducted analysis showed that FDI grow rapidly with an increase in the volatility of migration of capital and this is a long-term threat to the stability of the world and national economies, and therefore, a serious problem in modern global financial system that needs to be addressed.