Globalisation - content, dynamics

Abstract

The notion of international relationships is supplemented by other phenomena during the last time. One of them is globalisation, called on by technological, social and cultural changes, which have shortened the economic distance among countries. The improvement of transport and communication technologies has decreased transport costs of goods, people and information. Traditional governmental policies limiting the cross-border transactions were liberalised or removed what in consequence brought about the growth of international trade and foreign direct investments (FDI). Globalisation changes the properties of the world economy and influences the core of the successful economic approaches to development, what increases the need to secure the sustainability of economic development.