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Assessing the Case for Extending WTO Disciplines on Investment-Related Policies

Author

Listed:
  • Hoekman, Bernard

    (World Bank)

  • Saggi, Kamal

    (Southern Methodist University)

Abstract

In this paper we evaluate the potential benefits of international disciplines on policies towards foreign direct investment, paying particular attention to developing countries. We conclude that, at present, the case for initiating negotiations on investment policies is weak. Negotiations that center on improving market access on a nondiscriminatory basis, especially in services, are likely to be more fruitful: although imperfect, existing multilateral instruments such as the General Agreement on Trade in Services, are far from fully exploited and provide significant opportunities for governments to improve market access.

Suggested Citation

  • Hoekman, Bernard & Saggi, Kamal, 2000. "Assessing the Case for Extending WTO Disciplines on Investment-Related Policies," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 15, pages 629-653.
    • Handle: RePEc:ris:integr:0149
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    Citations

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    Cited by:

    1. Nunnenkamp, Peter & Pant, Manoj, 2003. "Why the economic case for a multilateral agreement on investment is weak," Open Access Publications from Kiel Institute for the World Economy 4323, Kiel Institute for the World Economy (IfW Kiel).
    2. Amy J. Glass & Kamal Saggi, 2005. "Exporting versus Direct Investment under Local Sourcing," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 141(4), pages 627-647, December.
    3. Kamal Saggi, 2016. "Trade, Intellectual Property Rights, and the World Trade Organization," Vanderbilt University Department of Economics Working Papers 16-00014, Vanderbilt University Department of Economics.
    4. Nunnenkamp, Peter & Pant, Manoj, 2003. "Why the case for a multilateral agreement on investment is weak," Kiel Discussion Papers 400, Kiel Institute for the World Economy (IfW Kiel).
    5. Nunnenkamp, Peter, 2003. "Ausländische Direktinvestitionen in Lateinamerkia: Enttäuschte Hoffnungen trotz attraktiver Standortbedingungen?," Open Access Publications from Kiel Institute for the World Economy 3104, Kiel Institute for the World Economy (IfW Kiel).
    6. World Bank & P.R.C. Development Research Center of the State Council, 2012. "China 2030 : Building a Modern, Harmonious, and Creative High-Income Society [pre-publication version]," World Bank Publications - Books, The World Bank Group, number 6057, December.
    7. Nunnenkamp, Peter, 2004. "[Book Review of] How to improve the development impact of foreign direct investment: A review," Open Access Publications from Kiel Institute for the World Economy 3398, Kiel Institute for the World Economy (IfW Kiel).
    8. 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.
    9. Nunnenkamp, Peter, 2003. "FDI for development? Assessing the case for a multilateral investment agreement from the perspective of developing countries," Open Access Publications from Kiel Institute for the World Economy 3117, Kiel Institute for the World Economy (IfW Kiel).
    10. Bernard Hoekman, 2016. "Subsidies, Spillovers and WTO Rules in a Value-chain World," Global Policy, London School of Economics and Political Science, vol. 7(3), pages 351-359, September.
    11. Rashmi Banga, 2003. "Impact of government policies and investment agreements on FDI inflows," Indian Council for Research on International Economic Relations, New Delhi Working Papers 116, Indian Council for Research on International Economic Relations, New Delhi, India.
    12. Saggi, Kamal, 2002. "Trade versus Direct Investment: Modal Neutrality and National Treatment," CEPR Discussion Papers 3375, C.E.P.R. Discussion Papers.
    13. Blanchard, Emily J., 2014. "What global fragmentation means for the WTO: Article XXIV, behind-the-border concessions, and a new case for WTO limits on investment incentives," WTO Staff Working Papers ERSD-2014-03, World Trade Organization (WTO), Economic Research and Statistics Division.
    14. Andrea Goldstein & Alessia Amighini & Bernard Hoekman, 2016. "Revitalizing the Global Trading System: What Could the G20 Do?," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 24(4), pages 34-54, July.
    15. Bernard Hoekman & Douglas Nelson, 2020. "Subsidies, Spillovers and Multilateral Cooperation," RSCAS Working Papers 2020/12, European University Institute.
    16. Nunnenkamp, Peter, 2005. "How to promote development-friendly FDI: an agenda for policymakers in developing and transition countries," Open Access Publications from Kiel Institute for the World Economy 4295, Kiel Institute for the World Economy (IfW Kiel).
    17. Debashis Chakraborty & Jaydeep Mukherjee & Tanaya Sinha, 2012. "Is there any Long-run Relationship between India’s Current and Capital Account Balance? A Time Series Analysis," Global Business Review, International Management Institute, vol. 13(3), pages 433-447, October.

    More about this item

    Keywords

    Foreign Direct Investment; Wto; Multilateral Trade Negotiations;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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