The Multilateral Investment System and Multinational Enterprises - Hardcover

This is a timely study of an important and complex set of issues which has rarely received the comprehensive treatment it requires. . . . This study has many admirable features. It is firmly grounded in the key concepts of economics, politics and business theory as they apply to TNCs, and it has a detailed historical base. It has obvious current relevance . . . it lays out the conflicting principles and viewpoints both within and between developing and developed countries while proposing some intermediate solutions to the deeper incursions into national policy which many governments resist. It contains an extraordinary range of tables, summaries and cases relating to everything from the contents of existing international agreement to details on the subsidies available to TNCs. (A. E. Safarian, University of Toronto, Transnational Corporations, Vol. 7, No. 1)

The multinational enterprise has been one of the foremost economic, political, and social influences in the world economy for many decades. As its role and influence have grown, so has the regime of institutions and rules concerning international investment from the proposal to create the ITO in the 1940s to the establishment of the WTO in the 1990s. Investment issues are now important items on the agenda of international economic policy-making and international business-government relations.

The book provides a detailed analysis of the evolution of the international investment framework in the second half of the twentieth century ― the issues, the organizations, and current policy challenges. For instance, the book includes chapters on issues concerning the relationship of investment policy to trade and technology, competition, and economic development.

In addition to a clear and well-informed description of the role of several organizations, including ITO, GATT, the OECD, and the WTO, the authors ― one American and one British ― present numerous examples, cases, and appendices to give context and `real' world examples to the book. They also discuss many key regional arrangements, such as NAFTA and the EU, as well as bilateral investment agreements.

This up-to-date and accessible book will be vital reading for academics, students, executives, and policy-makers concerned to get to grips with the evolving international investment system.