Multilateral Agreement On Investments (MAI)
نویسنده
چکیده
Though the Multilateral Agreement on Investment (MAI) has failed, the original draft is likely to serve as a basis for future negotiations. This article gives a critical assessment of the draft from an industrial economics point of view. First, I summarize the contents of the agreement which is relevant for market structure and competition. Then I develop the industrial economics approach, which serves as a basis for criticism. I conclude that a multilateral agreement on investment should (i) recognize competition concerns, (ii) give a suitable definition of investment, and (iii) should help to establish competition authorities in less developed countries. JEL: F02, F21, F23, L51
منابع مشابه
The Economics of a Multilateral Investment Agreement
This paper models a multilateral agreement on investment (MAI) as a coordination device. Multinational enterprises can invest in any number of countries. Without a multilateral investment agreement, expropriation triggers an investment stop by the single MNE. Under a multilateral agreement, expropriation leads to a joint reaction by all MNEs. Switching to such a regime increases worldwide FDI a...
متن کاملBilateral and multilateral financial assistance for the energy sector of developing countries
doi:10.3763/cpol.2007.0443 © 2008 Earthscan ISSN: 1469-3062 (print), 1752-7457 (online) www.climatepolicy.com This article examines trends in development assistance funding for energy and the implications for mitigating climate change. It presents financial data from bilateral and multilateral donors during 1997–2005, a period that begins with the agreement on the Kyoto Protocol under the Unite...
متن کاملMultilateral Mediated Negotiation Protocols with Feedback
Much attention has been paid to bilateral negotiation in which the dispute is between only two parties. However, automated multilateral negotiation in which more than two negotiating parties need to reach a joint agreement, has received relatively less attention, even though such negotiations are required in many circumstances (e.g. a group of managers making a joint decision for their company ...
متن کاملNon-Enforceability of Trade Treaties and the Most-Favored Nation Clause: a Game Theoretic Analysis of Investment Distortions.∗
We model agents’ incentives to invest in production of export goods when governments are commitment constrained with respect to their trade obligations. Once irreversible investments have been undertaken, the governments have incentives to renegotiate the tariff rates to higher values. The renegotiations are costly; the greater the tariff rate adjustment, the greater the expenses. We find that ...
متن کاملInternational issues in the supply of tobacco: recent changes and implications for alcohol.
This paper reviews international issues in the supply of tobacco and tobacco products, including trade liberalization and globalization. The paper begins with a brief discussion of the theoretical foundations for trade and trade restrictions. This is followed by a description of the treatment of tobacco and tobacco products in recent multi-lateral, regional and bilateral trade agreements, as we...
متن کامل