On the base of significant fluctuations of the international financial markets, the international investment position of Romania has an increasing importance in assuring the financial stability. The Romanian National Bank reserves are increasing as a result of exchanging the minimum reserves into foreign currencies made by banks and of the privatization revenues. The international reserve has been negatively influenced by the payments made in the foreign debt service account and by the foreign payment forms redeemed by the Public Finance Ministry. This paper offers to analyze the evolution and impact of the foreign investments in any form whatsoever, on the Romanian economy with the help of autoregressive econometrical models. These models shall refer to all foreign investments elements: direct investments of non-residents, portfolio investment and other categories of foreign investments as well as bank deposits or external short-term, medium and long-term credits.

econometric analysis, foreign investment, autoregressive models