This book is a result of research on both theory and practice of capital flows in the global economy. The research has been performed by a team of economics from the Collegium of Business Administration, at Warsaw School of Economics. The authors focus primarily on the origins of world financial crisis and on the new directions of capital flows. Additionally, the authors discuss the impact of the process of capital accumulation by China and India on the world economy, mechanisms of shaping crude oil prices as well as growing importance of remittances.

Introduction
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Andrzej Szablewski
Chapter 1. Capital flows and multi-currency global monetary system
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1.1. Overcoming Moral Crisis and Value Crisis
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1.2. In Search for New Scientific Paradigms
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1.3. Renaissance of State in Economy as Durable Recipe for Success?
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1.4. Forecasts of GDP Decrease and Increase
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1.5. Capital Surpluses and Deficiencies
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1.6. New Capital Provider: Sovereign Wealth Funds (SWFs)
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1.7. Conclusions from the Long-Term Technical Analysis for the American Market
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1.8. Multi-Currency Global Monetary System in the Next Decade!
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1.8.1. New Super Bubble on the Horizon: US Bonds and Dollar Weakening
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1.8.2. Strengthening of the Euro
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1.8.3. Growing Aspirations of Renminbi: New Active Policy of China
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1.9. Conclusions
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Alfred Bieć
Chapter 2. The Second Economic Crisis of the 21st Century: Causes and Forecasts
2.1. Introduction
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2.2. Crude Oil Prices
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2.3. Food and Metal Prices
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2.4. The Financial Market Crisis
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2.5. GDP and Export Growth in the World and Selected Regions - Forecast to 2015
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2.6. Conclusions
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Krzysztof Rybiński
Chapter 3. The Financial Crisis: Its Origins and Consequences
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3.1. The Mechanism of Speculative Bubble and Crisis Escalation
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3.2. How Should We Respond to the High Risk of An Asset-Price Bubble?
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3.3. The Strategy of the Polish Government: The Free Rider Strategy and the Golden Polish Decade
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3.4. Questions for the Future
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Katarzyna Żądło
Chapter 4. Crisis versus Trust - Conclusions from the Global Economy Problems of Today
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4.1. Trust as a Function of Risk Perception
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4.2. Liquidity or Trust Crisis?
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4.2.1. Trust Deficit as a Derivative of Bad Communication. Situation of the Fortis Group
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4.2.2. Communication as a Factor Constituting the Culture of Trust. Importance of Communication on the Capital Market
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4.3. Pessimistic Perspectives
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4.4. Polish experience with Crisis' Effects
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4.5. Conclusions
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Magdalena Mikołajek-Gocejna
Chapter 5. Investor Relations and Possibilities of Competition for Capital
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5.1. Overperformance as the Key Determinant of Competitiveness of Contemporary Economies, Sectors and Enterprises
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5.2. Use of Investor Relations in Competition for Capital
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5.2.1. Changes in Company Operation and Growing Information Needs of Society
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5.2.2. Gaps in the System of Communication between Companies and Their Environment
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5.2.3. New Approach to Investor Relations - Accounting for Investor Expectations in Enterprise Value Management
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5.3. Conclusions
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Mariusz Trzaskowski
Chapter 6. Capital Accumulation by China and India and Its Influence on the Global Economy
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6.1. Transformations of Chinese and Indian Economies in the era of Market Reforms
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6.1.1. Chinese Explosion
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6.1.2. Changes in India
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6.2. Capital Mobilisation and Valuation
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6.2.1. Capital Market in China
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6.2.2. Capital Market in India
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6.2.3. Mobilisation through IPOs
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6.2.4. Financial Systems
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6.3. Capital Flows in China and India
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6.3.1. New Silk Road
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6.3.2. Financial Assets
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6.3.3. Changes in Foreign Currency Reserves
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6.3.4. Global Economic Consequences
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6.3.5. Global Capital Flows
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6.3.6. Foreign Direct Investments
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6.3.7. India, China and the Global Financial System
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6.4. Crisis in India and China
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6.5. Conclusions
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Marek Panfil
Chapter 7. Globalisation of Venture Capital Investments
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7.1. History of Venture Capital Development
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7.2. History of Venture Capital Globalisation
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7.3. Venture Capital Globalisation - Quantitative Approach
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7.3.1 USA
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7.3.2. Europe
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7.3.3. China
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7.4. Global Trends in Venture Capital Investments
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7.5. Conclusions
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Dorota Ciesielska
Chapter 8. Services Offshoring and Foreign Direct Investment
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8.1. Characteristics of Services Offshoring
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8.2. Reasons for the Development and the Scope of Offshoring
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8.3. Offshoring - the Extent of the Phenomenon
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8.4. Foreign Direct Investment
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8.5. General Electric as an Offshoring Pioneer
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8.6. Sources of Success of Indian Global Corporations
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8.7. Conclusions
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Małgorzata Grotte
Chapter 9. Migrant Remittances in Times of Financial Crisis
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9.1. Introduction
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9.2. Migrant Remittances and other Financial Flows, Scale and Significance
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9.2.1. The Scale of Remittance Inflows
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9.2.2. Remittances versus Other International Financial Flows
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9.3. Impact of Remittances on Recipient Economies
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9.3.1. Macro-Level Impact
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9.3.2. Household-Level Perspective
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9.4. Perspectives
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9.4.1. Impact of International Financial Crisis
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9.4.2. Changing Patterns of Migration
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9.4.3. Remittances' Transfer Costs and Technologies
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9.5. Conclusions
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Wojciech Potocki
Chapter 10. Mechanisms Shaping Crude Oil Prices
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10.1. Crude Oil Prices in Retrospect
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10.2. Theory of Exhaustible Resources vs. Reality and Non-Structural Models
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10.2.1. Crude Oil Price and Consumption: Hotelling Rule
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10.2.2. Price and Consumption in Reality
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10.2.3. Explanation of Discrepancies
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10.2.4. Possibilities of Forecasting Crude Oil Prices
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10.2.5. Non-Structural Models
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10.3. Model of Short-Term Market Equilibrium
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10.4. Crude Oil on the Future Markets
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10.4.1. Crude Oil Prices Equilibrium Model on the Futures Market
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10.4.2. Equilibrium Model with the Use of Option Valuation
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10.4.3. Possibilities of Forecasting Crude Oil Price Trend Reversals on the Future Markets
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10.5. Conclusions
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References
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Contributors
pp. 209