Move Away from BITs Framework: A Need for Multilateral Investment Treaty?

Trade Liberalization and Investment in a Multilateral Framework

Trade Liberalization and Investment in a Multilateral Framework This paper explores trade policy and investment linkages in a multicountry framework. This is done under alternative steady-state closure rules linking trade to consumption, production, and investment, and emphasizing the general equilibrium nature of capital accumulation mechanisms. When policy shocks are capital friendly, induced...

Opinion versus evidence for the need to move away from animal testing.

Science is based on facts and their discourse. Willingly or unwillingly, facts are mixed with opinion, i.e., views or judgments formed, not necessarily based on fact or knowledge. This is often necessary, where we have controversial facts or no definitive evidence yet, because we need to take decisions or have to prioritize. Evidence-based approaches aim at identifying the facts and their quali...

The Economics of a Multilateral Investment Agreement

This paper models a multilateral agreement on investment (MAI) as a coordination device. Multinational enterprises can invest in any number of countries. Without a multilateral investment agreement, expropriation triggers an investment stop by the single MNE. Under a multilateral agreement, expropriation leads to a joint reaction by all MNEs. Switching to such a regime increases worldwide FDI a...

Rationalizing Costs in Investment Treaty Arbitration

Compliance Politics: A Critical Analysis of Multilateral Arms Control Treaty Enforcement Viewpoint

At the height of the Cold War, most analysis of security cooperation focused on bilateral USSoviet arms control. Today, more of the focus has shifted to multilateral agreements; this makes it important to determine the circumstances under which compliance with these agreements can be assured. This viewpoint sketches out some ideas about the factors that foster and impede compliance, and uses th...