Znaczenie granic dla przepływu kapitału
The Significance of Borders for the Flow of Capital

Summary/Abstract: The article is an attempt to trace the changing role of international borders in the international flow of capital in the form of direct foreign investments (DFI). Borders understood in the conventional sense as factors hindering a free migration of investments (disruption of optimal allocation) but at the same time also vindicating the existence of many capital flows (the motive of availing oneself of broadly understood differences) seem to be losing significance. However, what is being observed is the growing role of informal, ‘‘soft’’ and tacit borders that render the making of full profit impossible. They can be particularly painful in the case of knowledge-seeking investments made in clusters. Narrow specialization accompanied by a hermetic character of many such clusters is a major barrier in the activity of foreign business entities. Contrary to state borders, this barrier cannot be lifted by means of imposed administrative decisions.

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