Repeated Expropriation Contests and Foreign Direct Investment
AbstractThis Paper considers the incentives for foreign direct investment in transformation countries if actual expropriation is the possible result of a conflict between multinational firms and local or national governments. The Paper compares threats of complete expropriation and of repeated period-revenue confiscation. The Paper also shows that the timing of efforts in the contests is essential for the size of underinvestment. Short term commitment as regards timing can lead to first-best investment levels.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 2695.
Date of creation: Feb 2001
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Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
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- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
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