Abstract
What can we learn about making international rules governing foreign direct investment (FDI) from existing practices? The only truly global rules on investment at present are incorporated in the Articles setting up the World Trade Organization (WTO).2 These seek to reduce distortions and impediments to international trade, and to increase investment security when setting up establishments to gain market access by establishing a framework of transparent and enforceable rules within the ambit of a rules-based institution. However, outside trade circles, these WTO rules are not widely known, appreciated or understood; they tend to be complex and selective, yet their potential relationship to the proposed OECD rules on investment is important for the future development of international investment. An informed debate on foreign direct investment should not take place without an appreciation of these issues and the difficulties and options they present. Some lessons may be drawn.
The views expressed are those of the author and do not necessarily represent those of the Fund.
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© 1998 Springer Japan
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Tait, A.A. (1998). Foreign Direct Investment : Rules Versus Discretion. In: Shibata, H., Ihori, T. (eds) The Welfare State, Public Investment, and Growth. Springer, Tokyo. https://doi.org/10.1007/978-4-431-67939-4_9
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DOI: https://doi.org/10.1007/978-4-431-67939-4_9
Publisher Name: Springer, Tokyo
Print ISBN: 978-4-431-68014-7
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