LSN: Investment (Topic)最新文献

{"title":"Egalitarianism, Cultural Distance, and FDI: A New Approach","authors":"J. Siegel, A. Licht, S. Schwartz","doi":"10.2139/ssrn.957306","DOIUrl":"https://doi.org/10.2139/ssrn.957306","url":null,"abstract":"This study addresses an apparent impasse in the research on organizations’ responses to cultural distance. We posit that cross-country differences in egalitarianism — a cultural orientation manifested in intolerance for abuses of market and political power and support for protection of less powerful actors — affect multinational firms’ choices of destinations for foreign direct investment (FDI). Using historically motivated instrumental variables, we observe that egalitarianism distance has a negative causal impact on FDI flows. This effect is robust to a broad set of competing accounts, including the effects of other cultural dimensions, various features of the prevailing legal and regulatory regimes, other features of the institutional environment, economic development, and time-invariant unobserved characteristics of origin and host countries. We further show that egalitarianism correlates in a conceptually compatible way with an array of organizational practices pertinent to firms’ interactions with non-financial stakeholders, such that national differences in these egalitarianism-related features may affect firms’ international expansion decisions.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130138777","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Public Interest Norms in the European International Investment Policy: A Shattered Hope?","authors":"Dr. Yulia Levashova","doi":"10.2139/SSRN.2083475","DOIUrl":"https://doi.org/10.2139/SSRN.2083475","url":null,"abstract":"Through the Lisbon Treaty, the EU acquired exclusive competence over foreign direct investment (FDI). Hence, the EU began to form the EU Investment Policy, which, among other issues, attempts to regulate on Bilateral Investment Treaties (BITs). This article addresses the role of public interest norms in the framework of BITs in the context of the emerging EU Investment Policy.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128017865","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Inward Greek FDI and Location Advantages","authors":"P. Pantelidis, Dimitrios Kyrkilis, E. Nikolopoulos","doi":"10.2139/ssrn.1926713","DOIUrl":"https://doi.org/10.2139/ssrn.1926713","url":null,"abstract":"The aim of this paper is to construct and test a model explaining the inward FDI position of Greece on the basis of its location advantages during 1981-2009 period. The model consists of variables approximating location advantages as these are suggested by economic theory and empirical research. The model has an adequate explanatory ability and highlights market, wages, labor productivity and the availability of technological capabilities as important determinants of inward FDI in Greece. Also Common market is identified by our model as having a positive impact on FDI. Furthermore the European Monetary Union and the openness of the market (mainly dependent on imports) have a significant, negative impact on FDI.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125059390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Book Review on Rafael Leal-Arcas: Theory and Practice of EC External Trade Law and Policy and International Trade Law and Investment Law","authors":"N. Lavranos","doi":"10.2139/SSRN.1911791","DOIUrl":"https://doi.org/10.2139/SSRN.1911791","url":null,"abstract":"In sum, both books are excellent and should be made mandatory reading materials for the relevant courses of EU external trade and investment law and policy. But also, relevant policymakers - in the Member States, as well as in the various EU institutions - could learn a lot and draw inspiration from them on how to deal with the difficult tasks that they are currently facing when developing the future Common European Investment Policy (CEIP).","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"33 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124408273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Regulating Systemic Risk: Towards an Analytical Framework","authors":"Iman Anabtawi, S. Schwarcz","doi":"10.2139/SSRN.1670017","DOIUrl":"https://doi.org/10.2139/SSRN.1670017","url":null,"abstract":"Systemic risk management is at the forefront of financial regulatory agendas worldwide. The global financial crisis was a powerful demonstration of the inability and unwillingness of financial market participants to carry out the task of safeguarding the stability of the financial system. It also highlighted the enormous direct and indirect costs of addressing systemic crises after they have occurred, as opposed to attempting to prevent them from arising. Governments and international organizations are responding with measures intended to make the financial system more resilient to economic shocks, many of which will be implemented by regulatory bodies over time. These measures suffer, however, from the lack of a theoretical account of how systemic risk propagates within the financial system and why regulatory intervention is needed to disrupt it. In this Article, we address this deficiency by examining how systemic risk is transmitted. We then proceed to explain why, in the absence of regulation, market participants are poorly situated to disrupt the transmission of systemic risk. Finally, we advance a regulatory framework for correcting that market failure.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127134255","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Limits of Depoliticisation in Contemporary Investor-State Arbitration","authors":"M. Paparinskis","doi":"10.5040/9781472565808.ch-021","DOIUrl":"https://doi.org/10.5040/9781472565808.ch-021","url":null,"abstract":"Depoliticisation of investment dispute settlement is considered to be one of the principal reasons and advantages of investor-State arbitrations. This paper considers the added value that the depoliticisation vocabulary brings to the resolution of modern challenges. First of all, equating investor-State arbitration with depoliticisation of investment disputes suggests a particular perception of legal and political. For the drafters of the ICSID Convention, ratione personae identity of the claimant was the benchmark of politicisation. The logical solution was to replace the home State with the investment, leaving the dispute otherwise unchanged. Secondly, one critique of investment arbitration questions its adequacy for resolving public disputes. In terms of depoliticisation, despite the ratione personae changes the ratione materiae nature of the dispute retains the same degree of political sensitivity. While this position is open the classic Lauterpacht’s critique of substantive definitions of political, it also shows the danger of promising depoliticisation by legal means. Thirdly, another challenge to depoliticisation is the involvement of the home State, eg by ownership or control of the investor. While the de facto involvement of the home State blurs the distinction from the classic regime, restrictions could lead to direct challenges of depoliticisation by invocation of the State-State dispute settlement. Overall, as per Lauterpacht, it has to be taken as a given that every international law dispute is political. Whatever usefulness depoliticisation may have had as a rhetorical tool in contrasting ‘retrogressive State-centred political’ law with ‘progressive investor-centred legal’ law, its contribution to conceptualising and resolving modern challenges is not entirely obvious.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132925359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"International Investment Law and the Republic of Ecuador: From Arbitral Bilateralism to Judicial Regionalism","authors":"Karsten Nowrot","doi":"10.2139/ssrn.1620424","DOIUrl":"https://doi.org/10.2139/ssrn.1620424","url":null,"abstract":"Following more than two decades of unprecedented expansion, the legal regime on the protection of foreign investments has more recently become – again – increasingly controversially debated. There are clear indications in state practice, that an increasing number of countries assume a more cautious or even openly critical position on the current predominant approach in international investment law. This applies also to the recently renewed suspicion displayed by many Latin American countries in this regard. Among the Latin American countries, it is in particular also Ecuador, which has in recent years emerged as one of the main opponents of the current state of international investment law in general and international investment arbitration in particular. Ecuador not only adopted an increasingly critical stance on this issue but has also – in contrast to many other Latin American countries – in fact already employed a variety of measures in the domestic and international realm that clearly signal this state’s intention to exit the present system and to establish a new alternative scheme of international investment protection. Against this background, the contribution is intended to analyse some international legal implications of Ecuador’s actions aimed at largely disconnecting itself from the present framework of international investment protection. Furthermore, some broader conceptual thoughts on the perspectives for the future design of international investment agreements in the Latin American context will be provided. For this purpose, the contribution has been divided into three main parts. The first part is devoted to an identification and overview of the characteristics and importance of the currently predominant scheme of international investment protection, including certain public interest challenges arising from the present design. In the second part some legal implications and thus possible short-term effects of Ecuador’s recent policy responses to these public interest challenges are evaluated. Finally, the third part includes some thoughts on potential medium-term alternatives enjoyed by Latin American countries to initiate and implement a reformation of the international legal framework on investment protection. In this connection, it will be argued that the adoption of a regional investment agreement including the creation of a Latin American court of investment law – although appearing at first sight a rather ambitious (and not only to many foreign investors probably suspicious) alternative – can in the medium-term perspective be considered as an acceptable, politically feasible and thus viable option to facilitate a reconciliation, on modified terms, between countries like Ecuador and the international legal regime on the protection of foreign investments.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129859477","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Thirty years of Socialist China in Portugal's Foreign Policy","authors":"Arnaldo M. A. Gonçalves","doi":"10.2139/SSRN.1603769","DOIUrl":"https://doi.org/10.2139/SSRN.1603769","url":null,"abstract":"The article looks to the status of Portugal-China bilateral relations in the context of an enormous trade deficit, the fading of Portuguese economic interests in Macao and China, and the removal of China as a vector of Portugal foreign policy. The author stresses that the causes of the phenomenon lay down in the concentration of political priorities in European integration, NATO solidarity and traditional cultural links with former Portuguese-speaking Africa countries. Although the interest advanced by the Chinese side Portugal has made little to invert the situation and its weight on the strategic European relations with the PRC (second in the rank of foreign partners) is minimal representing 0,50% of EU exports to China. China has conceded the “strategic partner” status to five European countries (France, Portugal, Spain, Italy and Germany) till now and as attributed the same condition to the European Union as a whole.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130294480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Law Without Links: Re-Locating International Economic Law within the Sphere of Law and Society","authors":"A. Harrington","doi":"10.2139/SSRN.1330687","DOIUrl":"https://doi.org/10.2139/SSRN.1330687","url":null,"abstract":"This article argues that, in order to understand international economic law now and in the future, it is necessary to relocate it squarely within international law rather than as a subgroup at best, or an almost separate entity at worst. The reason for this argument is the author's belief that attempts to create or define international economic law as occupying a separate space in relationship to international law ignore the intertwined nature of these areas of law, threatening to undermine their ability to work in tandem - and with other areas of international law - to create an overarching international legal regime. In this article, the term \"international economic law\" is given an expansive meaning and incorporates trade, commerce, and other matters that indirectly affect these laws in the international context - such as customs and tariffs practices. In this article, the term \"international economic law\" includes actions, policies and decisions made by organizations involved in international trade and commerce law, as well as its regulation. It also includes the actions, policies and decisions made by regional and inter-regional organizations, as well as regional banks, because of the abilities of these entities to affect and be affected by the international system. While this definition of international economic law is inherently reflective of public law principles, it does embrace private law concerns as well.In order to explain the legal and societal pillars upon which this argument is founded, Part II examines the historical evolution of international contact for trade and commerce. It establishes a symbiotic relationship between international law - and the social/political views it expressed - and commercial activities that were regulated by formal and informal law between state actors and their citizens. In this Part, the point will be made that, although important to international law and international economic law, the 1944 Bretton Woods agreement, and the system that grew out of it, should not be regarded as the birthplace of international economic law, as is so often the case in teaching and writing on international economic law. After reviewing this evolution, Part III examines the state of economic-related organizations and trade agreements since World War II. The organizations studied are grouped into the categories of international organizations, inter-regional organizations, regional organizations, and regional banks. Although some of these organizations are not truly international, their actions and decisions have an impact on the international system. What emerges from this study is that, with few exceptions, every organization discussed exists for reasons beyond the sole focus of international economic law. The lessons of Parts II and III combine to form the arguments in Part IV. This Part argues that the relationship between international economic law and international law is of such symbiosis that they must be located in ","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"644 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114003478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Definition of Investment in Bilateral Investment Treaties of South Asian Countries and Regulatory Discretion","authors":"Prabhash Ranjan","doi":"10.54648/joia2009011","DOIUrl":"https://doi.org/10.54648/joia2009011","url":null,"abstract":"Due to the growing number of investor–state arbitrations and increasing number of bilateral investment treaties (BITs) being signed, it has become important to understand the implications of BITs for host countries. In this light, this article analyses the broad asset based definition of investment in the BITs signed by four South Asian countries, namely Bangladesh, Pakistan, India, and Sri Lanka. This analysis also assumes importance because these four countries, together, had signed 155 BITs at the end of 2007. Since the definition of investment is an important component of the investment treaties, this article attempts to understand the implications of a broad asset based definition of investment on the regulatory discretion of these four countries. In this context,this article also discusses the jurisprudence on the definition of investment that has emerged in the International Centre for Settlement of Investment Disputes (ICSID) cases and other international arbitration forums and its relationship with the broad asset based definition of investment which is found in most BITs.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134548834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}