Tendencje i czynniki zmian międzynarodowej pozycji inwestycyjnej krajów Unii Europejskiej w latach 2000–2012

The objective of the paper was to determine the influence of balance of payments transactions and other flows on the international investment position (IIP) of the EU member states in the period 2000–2012. The evaluation of presented factors’ significance was based on the relationship between alterations imposed by them separately and total net IIP changes, and correlation indices. Research conclusions show that in the period 2000–2012 other flows’ importance to the total net IIP changes of the EU members increased, at the expense of the role of balance of payments transactions. Other flows influenced at most the net IIP changes of EU member countries distinguished by great financial openness and the most developed financial markets. On the other hand, transactions played a key role in foreign assets and liabilities balance changes of the countries with relatively low degree of international financial integration and less developed financial sectors.