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5. References Herciu M., Ogrean C., Wealth, Competitiveness, and Intellectual Capital – Sources for Economic Development, Procedia Economics and Finance 27 (2015), 556 – 566 Shaffer D.F., Wright D.J., (2010), A New Paradigm for Economic Development - How Higher Education Institutions Are Working to Revitalize Their Regional and State Economies, The Nelson A. Rockefeller Institute of Government, University of Albany, State University of New York World Economic Forum, (2009), The Global Competitiveness Report 2008–2009: Full Data Edition. Retrieved from www

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implications of learning by doing. Review of Economic School Studies 29: 155-173. Bacon F., 1620 (Polish edition 1995). Novum Organum. PWN, Warszawa. Baldacci E., Clements B., Gupta S., Cui Q., 2008. Social spending, human capital, and growth in developing countries. World Development 36: 1317-1341. Bański J., 2003. Pozarolniczy rozwój gospodarczy na obszarach wiejskich w Polsce (Non-agricultural economic development in the rural areas of Poland). Przegląd Geograficzny 75(3): 385-401. Bański J., 2008. Wiejskie obszary sukcesu gospodarczego (Economically successful rural

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References Abrahams, D., 2003: Local Economic Development in South Africa: A Useful Tool for Sustainable Development. In: Urban Forum, Vol. 14 (2/3), pp. 185-200. Akudugu, J.A., 2013: Organising and Implementing Local Economic Development Initiatives at the District Level in Ghana, unpublished PhD dissertation Rheinischen Friedrich-Wilhelms Universitat, Bonn. Akudugu, J.A. and Laube, W., 2013: Implementing Local Economic Development in Ghana: Multiple Actors and Rationalities, Bonn: ZEF Working Paper Series, No. 113. Archary, L., 2011: Comprehensive Rural

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theory and practice: bridging the gap. Westview Press, Inc. Chapple, K. (2008). Defining the Green Economy. A Primer on Green Economic Development. The Center for Community Innovation: University of California Berkeley. November. Crane, A., & Matten, D. (2007). Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization. Oxford: Oxford University Press. Dicken, P. (2007). Global shift: Mapping the changing contours of the world economy. Sage Publications Ltd. Dixon-Fowler, H. R., Slater, D. J., Johnson, J. L., Ellstrand, A. E., & Romi

the Polish Association of Agricultural and Agribusiness Economists, vol. 5, 2003, no. 6, p. 28-34. Nagy, H. - Káposzta , J. 2006. Economic development strategies and development zones int he European Union. In: Bulletin of the Szent István University-Gödöllő, 2006, no. 1, p. 163-172. Pata y, I. 2007. Mindentudás a megújuló energiaforrásokról a Dél- Alföldi régióban. Kolorprint Kft., Békéscsaba. Tóth, J. - Almási , I. 2001. Interpretation of observed fluid potential patterns in a deep sedimentary basin under tectonic compression: Hungarian Great Plain, Pannonian

REFERENCES Todaro, M. P. & Smit, S. C. (2006). Economic development, Sarajevo: TKD Sahinpasic Jovanovic & Gavrilovic, P. (2006). International business finance. Belgrade: Faculty of Economics Samuelson, P. & Nordhaus, W. (1992) Economic growth in the long run the most important factor in the economic success of nations, McGraw-Hill Dunning, J. (1982). „A Note on the Intra-industry Foreign Direct Investmen“. Banca Nazionale del Lavoro (Rome) March, p.p. 265-284 Popović, G. (2009). Economics of the European Union, the macroeconomic aspects and common policies

the theory and methodology of evaluating the investment activity of enterprises was made by foreign scientists ( Keynes, 2013 ; Davidson, 1968 ; Harrod, 1952 ; Domar, 1952 ; Solow, 1956 ; Graham, 1962 ; Gitman and Joehnk, 2011 ). It is worth considering the opinion of Schumpeter (1954) , who believed that economic development is a cyclical process, driven by the abrupt nature of innovation, which means that innovation is part of economic development and one of the components of investment attractiveness. If we summarise the interpretations of investment