by Anders Aslund, Peterson Institute for International Economics
A gaping hole in the current global economic architecture is the absence of a multilateral agreement on foreign direct investment (FDI). A multilateral investment agreement (MIA) was discussed extensively from 1970 to 1998 but never concluded. However, the need for such an agreement has increased in the last decade. FDI has grown substantially and now flows in both directions between developed and developing countries, with multinational corporations (MNCs) hailing from all parts of the world. The numerous bilateral investment treaties warrant an international standardized set of rules for FDI. With investment now clearly identified with MNCs and integrated with trade, the World Trade Organization has emerged as a natural home of an MIA.
View full document [pdf]
Working Paper 12-16: Transactions: A New Look at Services Sector Foreign Direct Investment in Asia October 2012
Working Paper 08-7: Policy Liberalization and FDI Growth, 1982 to 2006 August 2008
Op-ed: Avoiding Another Dubai February 28, 2006
Book: Does Foreign Direct Investment Promote Development? May 2005