Genesis of Investments’ Theory in the Process of Economic Thought’s Development (Resume)

Lamara Kokiauri, Doctor of Economic Sciences, Professor

1. At all times economists took interest in theoretical problems related to the role of investment in the economic process and formation of necessary conditions and mechanisms of investment activities.

Investments, as a subject of scientific analysis, form a special system of theoretical knowledge integrating conclusions of investment theories of many generations of scientists. A deep genesis of investments’ theory is related to scientific postulates of practically all schools and trends of economic thought. 2. In particular, a considerable process in the development of investments’ theory is related to the research of the school of mercantilists, physiocrats, classical political economy, with the system of Marxist economic doctrine of marginalists. Synthesis of classical and marginalist investment theories was undertaken by the representatives of the neoclassical trend of economic thought. A cardinal turn in the macroeconomic investment theory was made by the representatives of Keynesian doctrine of economic thought – by D. Keynes and his numerous followers. And at last, the basic conclusions of neoclassical, Keynesian, monetary and institutional economic doctrines were generalized and practically concretized in the modern synthesis of the investment theory. 3. A model of investment behavior of an enterprise is also considered in the article. Studying of fundamentals of formation of enterprises’ investment behavior is a necessary condition for elaboration of effective management decisions in the system of investment activities. A model of investment behavior characterizes the theoretical concept of the motivation system of management subjects prompting them to implement investment activities at all its stages and in all forms.