There is inherent tension between the increasingly global focus of foreign investors and the continuing national focus of governments. Countries, particularly developing ones, compete to attract investment from global corporations, and they attach performance requirements to tilt the impact of those investments in their favor. This is because the host nations expect investment to raise growth levels, efficiency, and living standards. At the same time, the home countries of such corporations worry that their firms are not accorded fair and reciprocal treatment abroad. These issues have become a source of conflict among nations, one that could escalate considerably if an agreement is not soon reached.
Graham's study analyzes the nature and depth of the international investment problem and its potential impact on the world economy and on economic relations among nations. He urges that current rules on foreign direct investment be enlarged and restructured via new international rules and institutional arrangements and offers two alternatives for doing so.
- Cover
- Contents
- Preface
- Acknowledgments
- Ch 1 Introduction
- Ch
2 Recent Trends in the Globalization of Business
- FDI and Trade
- FDI and R&D
- National Comparisons
- Changes in Policies Toward FDI
- Predicting Which Way FDI Will Flow
- Globalization in Historical Perspective
- Regionalism and the Global Firm
- Ch
3 Why Does Business Globalize?
- What Is a Global Firm?
- Impacts of National Policy on Globalization
- Implications of the Clash between Government and Global Business
- Ch
4 Toward New Rules on International Investment
- An Accord on FDI
- Ancillary Codes
- Conclusion
- Ch
5 Postwar Efforts at Rule Making
- Multilateral Efforts to Create FDI Rules
- Regional Approaches to FDI
- Bilateral Treaties
- Changing Positions of Major Home and Host Nations
- Conclusion
- 6 Negotiating and Implementing an Investment Accord
- Finding the Right Forum
- The World Trade Organization (WTO)
- Organization for Economic Cooperation and Development
- Regional Arrangements Other than the OECD
- Where Do We Go from Here?
- Conclusions
- APPENDICES
- A: Foreign Direct Investment and Technological Spillovers in the Developing Nations
- B: A Game Theoretic Approach to Sanctions
- References
- Index
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