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Foreign Direct Investment and Human Development: The Law and Economics of International Investment Agreements

Edited by: Olivier de Schutter, Johan F. M. Swinnen, Jan Wouters

ISBN13: 9780415535472
Published: November 2012
Publisher: Routledge
Country of Publication: UK
Format: Hardback
Price: £80.00
Paperback edition , ISBN13 9780415535489



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This book presents original research that examines the growth of international investment agreements as a means to attract foreign direct investment (FDI) and considers how this affects the ability of capital-importing countries to pursue their development goals. The hope of countries signing such treaties is that foreign capital will accelerate transfers of technologies, create employment, and benefit the local economy through various types of linkages. But do international investment agreements in fact succeed in attracting foreign direct investment? And if so, are the sovereignty costs involved worth paying? In particular, are these costs such that they risk undermining the very purpose of attracting investors, which is to promote human development in the host country?

This book uses both economic and legal analysis to answer these questions that have become central to discussions on the impact of economic globalization on human rights and human development. It explains the dangers of developing countries being tempted to 'signal' their willingness to attract investors by providing far-reaching protections to investors' rights that would annul, or at least seriously diminish, the benefits they have a right to expect from the arrival of FDI. It examines a variety of tools that could be used, by capital-exporting countries and by capital-importing countries alike, to ensure that FDI works for development, and that international investment agreements contribute to that end. This uniquely interdisciplinary study, located at the intersection of development economics, international investment law, and international human rights is written in an accessible language, and should attract the attention of anyone who cares about the role of private investment in supporting the efforts of poor countries to climb up the development ladder.

Subjects:
International Investment Law, Law and Economics
Contents:
1. Introduction : liberalization of investment and human development, Olivier De Schutter, Johan F. Swinnen and Jan Wouters

Part 1: The development of international investment law: a historical overview
2. The emerging customary law of international investment law, Jan Wouters, Nicolas Hachez and Sanderijn Duquet

Part 2: Economic consequences of Foreign Direct Investment
3. Foreign direct investment as an engine for economic growth and human development: A review of the arguments and empirical evidence, Liesbeth Colen, Miet Maertens and Johan F. Swinnen
4. Do bilateral investment treaties attract FDI to developing countries?, Liesbeth Colen, Miet Maertens and Johan F. Swinnen
5. FDI and International investment treaties. An analysis of the heterogeneous effects of BITs and DTTs, Liesbeth Colen and Andrea Guariso

Part 3: Rethinking the current legal framework: a multi-level analysis
6. The host State : Improving the monitoring of IIAs at the national level, Olivier De Schutter
7. The capital-exporting State : Ensuring accountability of national export credit agencies, Matthias Sant'Ana
8. The negotiation framework : Improving the framework of negotiations on international investment agreements, Philip De Man and Jan Wouters
9. The Role of Development Banks : The European Investment Bank's substantive and procedural accountability principles with regard to human rights, social and environmental concerns, Nicolas Hachez and Jan Wouters

Part 4: Directing foreign investment towards human development 10. Conclusion: reconciling FDI and human development, Olivier De Schutter, Johan F. Swinnen and Jan Wouters