Download An Economic Analysis of Bilateral Investment Treaties by Jan Peter Sasse PDF

By Jan Peter Sasse

Bilateral funding Treaties (BITs) are a tremendous device for the security of overseas direct funding (FDI). although, in comparison to overseas alternate legislations, overseas funding legislation has thus far got basically little study awareness from an monetary perspective. through employing a legislation and economics strategy, Jan Peter Sasse offers a scientific research of ways BITs functionality. He explains why BITs are greater than only a sign, how they relate to institutional pageant in addition to to institutional caliber and why transparency is foreign funding arbitration is tough to accomplish and will even unsafe.

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1 Static Devices Obviously, expropriation will not occur when CH > WH, that is when the state can receive a higher payoff through taxes, spillover, etc. compared to expropriation. This is typically the case when the value of the asset to the state is low. 88 In other words, the government cannot manage the asset as efficiently as the investor and is thus better off leaving the investment in the hands of the investor (thereby profiting from taxes and spillover). This is especially true when the taxes and spillover effects are large.

133. 145. 136. 10 Foreign Direct Investment product for free). If patent systems cannot guarantee the property rights of the knowhow, the optimal way to organise the interdependency might be through an MNE. In the case of reputation, an alternative way for a company from one country to exploit its reputation in another country would be through franchise contracts. However, as Hennart (2001) emphasises, free-riding poses a huge problem to franchising. A single franchisee has the incentive to lower his quality.

One of the problems with hands-tying is that it is often not an available option. Besides, while the automaticity of the sanction is desirable as it enhances the credibility of the commitment, it may be problematic in certain cases, especially when circumstances have changed. 4 Union The method of union is another method to align divergent interests. 102 Obviously, the term union describes the situation where two parties merge or integrate to become a single party. 103 First, union can often not be completely achieved, meaning that it can usually not eliminate all conflicts of interest between the parties.

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