An Economic Analysis of Bilateral Investment Treaties by Jan Peter Sasse

By Jan Peter Sasse

Bilateral funding Treaties (BITs) are an enormous tool for the safety of overseas direct funding (FDI). although, in comparison to overseas alternate legislations, overseas funding legislation has thus far bought in simple terms little study recognition from an financial perspective. via making use of a legislation and economics procedure, Jan Peter Sasse presents 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 harmful.

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The focus of this book is, on the other hand, how time inconsistency can be avoided when it is anticipated by the economic agents. 102. 20 ff or Schmidtchen (1994). Time Consistency and Subgame Perfection are not identical concepts. First of all, the notion of time consistency is usually related to macro-economic issues, while subgame perfectness (or perfection) is a game theoretic expression. More importantly, subgame perfectness is a useful solution concept in numerous dynamic games that have no reference to time consistency.

39 As the transaction cost theory of FDI has illustrated, the existence of attractive markets or the demand for natural resources is not sufficient for FDI to emerge. 2. See Dunning and Lundan (2008) for the description of the OLI paradigm. g. 85. 12 Foreign Direct Investment ownership must be a more efficient organisational structure than, for example, market transactions. Nevertheless, the classification used by UNCTAD (2003) can be useful in some respects. 3 FDI and Development Before proceeding, it appears worthwhile to take a closer look at the impact of FDI on the host country's economy.

At the core of this issue is usually the redistribution of assets from foreign businesses to the government or third parties. ) the assets in one way or another. This could be considered a form of opportunism that is present in many if not most sequential transactions. , Busse and Hefeker (2007). 67. See Guzman (1998). The idea of time inconsistency in government action goes back to Kydland and Prescott (1977). Guzman (1998) uses the expression dynamic inconsistency instead of time inconsistency.

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