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Begin New Search Topic Markets Publishing Institution Columbia Center on Sustainable Investment Publication Year within 25 Years

1. The case for a framework agreement on investment

Author:
Gary Hufbauer and Sherry Stephenson
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
In Columbia FDI Perspectives, No. 102, Axel Berger claimed that the debate over a multilateral framework for investment is futile. We disagree. Following its achievements at the 9th Ministerial Conference in Bali, Indonesia, the World Trade Organization (WTO) should launch negotiations to draft a 21st century Investment Framework Agreement (IFA).
Topic:
Economics, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment
Political Geography:
Colombia

2. The "spaghetti bowl" of IIAs: The end of history?

Author:
Joachim Karl
Publication Date:
02-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
In his famous book, "The End of History and the Last Man", published in 1992, Francis Fukuyama argued that Western democracy represents the end point of the socio-cultural evolution of humanity and the final form of government.
Topic:
Economics, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment
Political Geography:
France

3. Recalibrating interpretive authority

Author:
Anthea Roberts
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
There have been many calls for a rebalancing of investor protection and state sovereignty in the investment treaty system. However, another equally important shift is underway: the recalibration of interpretive authority between treaty parties and arbitral tribunals. In newer-style investment treaties, states are increasingly protecting and enhancing their role in interpreting and applying their treaties.
Topic:
Economics, Government, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment

4. Minority rules: State ownership and foreign direct investment risk mitigation strategy

Author:
Barclay E. James and Paul M. Vaaler.
Publication Date:
12-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Business researchers, executives and regulators may assume that state ownership in firms raises risk for private co-investors. After all, private investors are seeking profits while states are seeking welfare. Giving them both equity only confuses the aims of an investment project, complicates the job of investment project managers and raises the overall risk of investment project failure. But these assumptions do not fit the evidence as demonstrated by a well-known risk indicator observable in hundreds of investment projects located in dozens o f countries: in countries where initial investment terms are more vulnerable to renegotiation by host country governments, we found that "minority rules" apply w hereby a non-controlling, but still substantial equity investment by a host country government can play a risk-mitigating role.
Topic:
Markets, Treaties and Agreements, Foreign Direct Investment, Governance, and Reform
Political Geography:
Ethiopia

5. Beware the discretionary choices of arbitrators

Author:
Gus Van Harten
Publication Date:
12-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Investment treaty arbitration has unfolded rapidly in recent years. Some observations arising from analyses of arbitrator awards are high lighted below. They support broad conclusions that: arbitrators reviewed a wide range of legislative, executive and judicial decisions but typically did not exercise judicial restraint in various ways associated with domestic and international courts; arbitrators typically adopted expansive approaches to their authority and to investor entitlements to compensation, especially where the claimant had the nationality of a major Western capital-exporting state; and decision-making power was highly concentrated amongarbitrators, suggesting a need for closer scrutiny of how the most active individual arbitrators have expanded the meaning of investment treaties and corresponding principles of state liability.
Topic:
Economics, International Trade and Finance, Markets, Treaties and Agreements, Foreign Direct Investment, Law Enforcement, and Law

6. Go out and manufacture: Policy support for Chinese FDI in Africa

Author:
Nikia Clarke
Publication Date:
11-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Energy investments and infrastructure contracts remain prominent in China's Africa engagement. However, investment in manufacturing makes up a significant proportion of Chinese outward foreign direct investment (FDI). Its characteristics–large numbers of smaller transactions by privately owned small and medium-sized firms–make these flows difficult to assess or control. However, China and African governments have an interest in effectively channeling this type of FDI.
Topic:
Development, Economics, Industrial Policy, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Africa and China

7. Inward FDI in Ireland and its policy context, 2012

Author:
Louis Brennan and Rakhi Verma
Publication Date:
03-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
Despite the global financial and economic crises and a sharp downturn in the domestic economy between 2008 and 2009, Ireland managed to attract large inflows of foreign direct investment (FDI) in 2010. Inward FDI (IFDI) flows in 2010 were at a similar level to those in 2009, the second highest in Ireland's FDI history. However in 2011, there was a decline in such flows. While Ireland's economy has been greatly affected by the global crisis, Irish government initiatives have further fostered the country's attractiveness as an investment location for the world's firms. All indications are that Ireland's IFDI performance will continue to surpass that of most countries into the near future.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Europe and Ireland

8. Inward FDI in Germany and its policy context, 2012

Author:
Thomas Jost
Publication Date:
04-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
In 2011 and the first half of 2012, inward FDI (IFDI) flows to Germany continued to be relatively strong. Germany attracte market-seeking MNEs, as its economy showed remarkable economic growth despite the ongoing problems in many other countries of the Eurozone. In the second half of 2012, IFDI flows turned sharply negative, declining for the year as a whole to only US$ 7 billion, compared with US$ 49 billion in 2011. This decline reflects the difficult financial situation of many companies, including banks in the Eurozone, and could also dampen inflows in 2013. In the longer-term, Germany could profit again from rising FDI as its economy has successfully implemented reforms over the past decade, and the German Government has continued to keep its investment policy regime open.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
United States, Europe, and Germany

9. Outward FDI from Israel's Largest MNEs Continues to Rise in 2011

Publication Date:
04-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
Recanati Business School of Tel Aviv University, The Manufacturers Association of Israel, and the Vale Columbia Center on Sustainable International Investment (VCC), a joint center of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their fifth annual survey of Israeli multinational enterprises (MNEs) today. The survey is part of the Emerging Market Global Players (EMGP) project, a long-term study of the rapid global expansion of MNEs from emerging markets. The results released today focus on data for the year 2011.
Topic:
Economics, Emerging Markets, Markets, and Foreign Direct Investment
Political Geography:
New York and Middle East

10. Is Chinese FDI pushing Latin America into natural resources?

Author:
Miguel Pérez Ludeña
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Chinese foreign direct investment (FDI) in Latin America is a recent phenomenon. Although the China National Petroleum Corporation and other companies have been present in Peru, Ecuador and Venezuela since the early 1990s, large projects have been pursued only since 2006, following an extended period of high commodity prices. The Economic Commission for Latin America and the Caribbean (ECLAC) estimated that there were US$ 15 billion of Chinese FDI inflows into Latin America in 2010, 90% of which were in extractive industries. This further contributed to the already high percentage of Chinese FDI flows to the region that are in natural resources. At a time of high economic growth fueled by commodity exports and strong currency appreciation (particularly in Brazil), FDI into extractive industries strengthens the region's specialization in primary products at the expense of manufacturing and other activities.
Topic:
Economics, International Trade and Finance, Markets, Natural Resources, and Foreign Direct Investment
Political Geography:
China, Brazil, Latin America, and Peru