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Multilateral disciplines for investment-related policies

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  • Hoekman, Bernard
  • Saggi, Kamal

Abstract

The authors evaluate the potential benefits of international disciplines on policies toward foreign direct investment for developing countries. They conclude that the case for initiating negotiations on investment policies is weak at present. Negotiating efforts that center on further liberalizing market access on a non-discriminatory basis - especially for services - are likely to be more fruitful in terms of economic welfare and growth. Existing multilateral instruments, although imperfect, are far from fully exploited and provide significant opportunities for governments opening further access to markets. The authors conclude that priority should be given to expanding coverage of the General Agreement on Trade in Services (GATS) before seeking to negotiate general disciplines on investment policies.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 2138.

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Date of creation: 30 Jun 1999
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Handle: RePEc:wbk:wbrwps:2138

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Keywords: Labor Policies; Environmental Economics&Policies; Health Economics&Finance; Economic Theory&Research; Decentralization; Health Economics&Finance; TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT; Environmental Economics&Policies; Economic Theory&Research; Trade and Regional Integration;

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References

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Citations

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Cited by:
  1. Kamal Saggi, 2002. "Trade, Foreign Direct Investment, and International Technology Transfer: A Survey," World Bank Research Observer, World Bank Group, World Bank Group, vol. 17(2), pages 191-235, September.
  2. Hoekman, Bernard & Anderson, Kym, 1999. "Developing country agriculture and the new trade agenda," Policy Research Working Paper Series 2125, The World Bank.
  3. Chang Hoon Oh & Michele Fratianni, 2010. "Do Additional Bilateral Investment Treaties Boost Foreign Direct Investments?," Working Papers, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy 2010-04, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
  4. Agata Antkiewicz & John Whalley, 2006. "Recent Chinese Buyout Activity and the Implications for Global Architecture," NBER Working Papers 12072, National Bureau of Economic Research, Inc.
  5. Turrini, Alessandro Antonio & Urban, Dieter M, 2001. "For Whom is MAI? A Theoretical Perspective on Multilateral Agreements on Investment," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2774, C.E.P.R. Discussion Papers.
  6. Amy Glass & Kamal Saggi, 1999. "FDI Selection: Crowding Out and Distributional Effects," Working Papers, Ohio State University, Department of Economics 99-03, Ohio State University, Department of Economics.
  7. Langhammer, Rolf J., 1999. "The WTO and the millennium round : between standstill and leapfrog," Kiel Discussion Papers 352, Kiel Institute for the World Economy (IfW).
  8. Bernard Hoekman & Will Martín, 1999. "Some Market Access Issues for Developing Countries in a Millennium Round: Results from Recent World Bank Research," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 36(109), pages 947-978.
  9. Arvind Panagariya, 2003. "The Millennium Round and Developing Countries: Negotiating Strategies and Areas of Benefits," International Trade, EconWPA 0308018, EconWPA.
  10. Dieter M. Urban, 2006. "Multilateral Investment Agreement in a Political Equilibrium," CESifo Working Paper Series 1830, CESifo Group Munich.
  11. Michalopoulos, Constantine, 1999. "Developing country goals and strategies for the Millennium Round," Policy Research Working Paper Series 2147, The World Bank.
  12. Ajit Singh, 2005. "FDI, Globalisation and Economic Development - Towards Reforming National and International Rules of the Game," ESRC Centre for Business Research - Working Papers, ESRC Centre for Business Research wp304, ESRC Centre for Business Research.
  13. Egger, Peter & Pfaffermayr, Michael, 2004. "The impact of bilateral investment treaties on foreign direct investment," Journal of Comparative Economics, Elsevier, vol. 32(4), pages 788-804, December.
  14. Singh, Ajit, 2001. "Foreign direct investments and international agreements: a south perspective," MPRA Paper 24299, University Library of Munich, Germany.

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