International Investment Perspectives 2006

image of International Investment Perspectives 2006

This annual report reviews recent developments in international direct investment, includes recent statistics and highlights policy responses that will help countries reap the full benefits of investment.  This edition's special focus is on legal and policy issues arising from international investment agreements.  The articles in this section investigate novel features of recent bilateral investment treaties; options for improving the system of investor-state dispute settlement; and the consolidation of claims as an avenue for improving investment arbitration.   Other articles in this volume cover how new technologies are a force advancing the closer integration of national economies;  the challenges and opportunities for policy makers that arise from international investor participation in infrastructure; recent evidence of source (or "home") country benefits of outward direct investment; and the role of the OECD peer review process in building investment policy capacity.

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Globalisation, New Technology and International Investment

The last few decades represent a period of major technical innovation in fields that bear on international investment decisions in fundamental ways. More powerful and cheaper information and communication systems and technical advances in transportation and logistics management, for instance, narrow the divide of distance and enable the greater unbundling of the production process, including across borders and at a global level. This is altering the patterns of national and corporate comparative advantage, leading to the opening of new markets and sectors, notably among services that have not traditionally been a source of, or attracted international investment, and is changing the shape of industrial organisation. This article takes stock of how new technologies are a force advancing the closer integration of economies, reconfiguring both the external and internal organisational structures of international businesses. The impacts of this process of globalisation, driven by technological advances, on the patterns of international investment, how they may continue to evolve and on how international business is conducted are then examined, based on a synthesis of the existing literature and various statistical sources. The analysis provides the grounds for the final, forward-looking section of the article, which identifies the potential issues facing the investment policy community now and in the coming years.


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