Abstract
The study aims to analyze and systematize the development of the investment the-ory, starting from the period of mercantilism and up to the modern approaches. Changes in under-standing the role of investment in the context of the economic digitalization are in the focus. The ar-ticle discusses the key stages in the development of the investment theory, defines the main concepts and models that have influenced the formation of the modern investment theory. In conclusion, cur-rent trends in the investment theory and their role in the development of the national economy are reviewed.
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