An Economic Analysis of Bilateral Investment Treaties by Jan Peter Sasse

By Jan Peter Sasse

Bilateral funding Treaties (BITs) are an immense tool for the security of overseas direct funding (FDI). even though, in comparison to overseas exchange legislation, overseas funding legislations has to this point bought in basic terms little study consciousness from an financial standpoint. by means of using a legislations and economics strategy, Jan Peter Sasse presents a scientific research of how BITs functionality. He explains why BITs are greater than only a sign, how they relate to institutional festival in addition to to institutional caliber and why transparency is overseas funding arbitration is difficult to accomplish and will even harmful.

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90 This approach will be followed here. In addition to the mechanisms identified by Kronman (1985), this paper adds three additional ones: insurance as a mechanism to enhance transactional security, the devaluation of assets as a strategy to avoid expropriation and lobbying. At the core of each of these mechanisms is the modification of the payoffs of the original PD game, namely CH, CM, WH and LM, to achieve a cooperative and thus a mutually more beneficial outcome. 91 More specifically, the party that performs first (party A) might ask the party that performs second (party B) for a hostage, that is, anything that is of value for party B.

46. 49ff. 23. 53 Consequently, the host country establishes a tighter linkage in the world trading system through FDI. This assertion also partly holds true for imports. The question here is whether trade and FDI are substitutes or complements. At first glance, the answer given by the internalisation theory appears simple: FDI is described as an alternative to trade and consequently, FDI and trade should be viewed as substitutes. However, this simplistic view ignores a number of more complicated processes related to MNE activity.

24. 46. 49ff. 23. 53 Consequently, the host country establishes a tighter linkage in the world trading system through FDI. This assertion also partly holds true for imports. The question here is whether trade and FDI are substitutes or complements. At first glance, the answer given by the internalisation theory appears simple: FDI is described as an alternative to trade and consequently, FDI and trade should be viewed as substitutes. However, this simplistic view ignores a number of more complicated processes related to MNE activity.

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