1887

OECD Working Papers on International Investment

Selected studies on international investment and investment policy prepared for use within the OECD. They address such issues as investment agreements, dispute settlement, fair and equitable treatment, most favored nation treatment, and corruption.

English

Societal benefits and costs of International Investment Agreements

A critical review of aspects and available empirical evidence

This paper reviews alleged societal benefits and costs of International Investment Agreements (IIAs) as suggested by academia, governments, business and civil society. It sets out the wide range of issues that diverse actors have proposed in the context of assessing the societal benefits and costs of IIAs.

The paper analyses and organises the available material generated by these sources to identify and classify the many different issues, summarises available empirical evidence and findings in these sources on the individual aspects, and assesses strengths and weaknesses of the approaches. The paper focuses in particular on the investor protection component of IIAs. The inventory finds that for many claims about the positive or negative impact of IIAs, little robust evidence has been generated to date. The paper highlights methodological challenges and suggests areas where further study would be required to draw firmer conclusions.

English Spanish

Keywords: foreign investment, international investment law, investment treaties, cost-benefit analysis, international investment, investment protection, bilateral investment treaties, regulatory impact assessments
JEL: F23: International Economics / International Factor Movements and International Business / Multinational Firms; International Business; P48: Economic Systems / Other Economic Systems / Other Economic Systems: Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies; D61: Microeconomics / Welfare Economics / Allocative Efficiency; Cost-Benefit Analysis; O12: Economic Development, Innovation, Technological Change, and Growth / Economic Development / Microeconomic Analyses of Economic Development; K33: Law and Economics / Other Substantive Areas of Law / International Law; F02: International Economics / General / International Economic Order and Integration; F53: International Economics / International Relations, National Security, and International Political Economy / International Agreements and Observance; International Organizations; D02: Microeconomics / General / Institutions: Design, Formation, Operations, and Impact; F21: International Economics / International Factor Movements and International Business / International Investment; Long-term Capital Movements; N40: Economic History / Government, War, Law, International Relations, and Regulation / Economic History: Government, War, Law, International Relations, and Regulation: General, International, or Comparative; F60: International Economics / Economic Impacts of Globalization / Economic Impacts of Globalization: General; F55: International Economics / International Relations, National Security, and International Political Economy / International Institutional Arrangements; P45: Economic Systems / Other Economic Systems / Other Economic Systems: International Trade, Finance, Investment and Aid
This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error