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6842. Improving infrastructure or lowering taxes to attract foreign direct investment?
- Author:
- Christian Bellak and Markus Leibrecht
- Publication Date:
- 06-2009
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- A crucial challenge to all countries in the current economic crisis is to stimulate investment, including foreign direct investment (FDI). Countries striving to attract FDI often resort to two types of policies: improving infrastructure or lowering taxes, as a means of attracting new FDI, or keeping existing FDI. Indeed, recent empirical studies (e.g. Bénassy-Quéré et al. 2007; Bellak et al. 2009) confirmed that both lower taxes and improved infrastructure exert a considerable influence upon multinational enterprises' decision to invest in a particular country, when controlling for other important location factors (like market size, labor costs etc.).
- Topic:
- Economics, Infrastructure, and Foreign Direct Investment
6843. While global FDI falls, China's outward FDI doubles
- Author:
- Ken Davies
- Publication Date:
- 05-2009
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- In 2008 global FDI fell by around 20%, while outward FDI from China nearly doubled. This disparity is likely to continue in 2009 and 2010 as China invests even more overseas. What is driving this continuing surge in China's outward FDI?
- Topic:
- International Trade and Finance, Foreign Direct Investment, and Financial Crisis
- Political Geography:
- China and Asia
6844. A new geography of innovation – China and India rising
- Author:
- Gert Bruche
- Publication Date:
- 04-2009
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- With some delay, the internationalization of business R is following the globalization of production. Starting on a small scale during the 1970s and 1980s, the emergence of globally distributed R networks of multinational enterprises (MNEs) accelerated rapidly in the 1990s. The “globalization of innovation” was facilitated and driven by a complex set of factors, including changes in trade and investment governance, improved intellectual property rights through TRIPS, the growing ease and falling cost of communicating and traveling around the globe, and the concomitant vertical industry specialization and unbundling of value chains. The growing and sustained level of cross-border M was one major direct driver, often having the effect that merged firms inherited multiple R sites in a number of countries.
- Topic:
- Development, Economics, and Foreign Direct Investment
- Political Geography:
- China, India, and Asia
6845. The global financial crisis: will state emergency measures trigger international investment disputes?
- Author:
- Anne Van Aaken and Jürgen Kurtz
- Publication Date:
- 03-2009
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Several developed countries have introduced emergency measures to mitigate the effects of the Global Financial Crisis, including Australia, Germany, Ireland, the United Kingdom, and the United States. Although the measures taken are still undergoing changes by the executive branch and are thus a “moving target”, our survey reveals early evidence of differentiation between foreign and domestic actors in the emergency plans adopted by this sample grouping. It is this differentiation that may give rise to liability as breaching guarantees against discrimination of foreign investors under international investment law.
- Topic:
- Economics, International Trade and Finance, Markets, International Affairs, Foreign Direct Investment, and Financial Crisis
- Political Geography:
- United States, United Kingdom, Germany, Australia, and Ireland
6846. The revised national security review process for FDI in the US
- Author:
- Mark E. Plotkin and David N. Fagan
- Publication Date:
- 01-2009
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- On December 22, 2008, new regulations setting forth the U.S. government's national security review process for foreign mergers and acquisitions of U.S. businesses became effective. They are the ultimate step in a lengthy effort to revise and strengthen the reviews undertaken by the Committee on Foreign Investment in the United States (“CFIUS”).
- Topic:
- Economics, National Security, and Foreign Direct Investment
- Political Geography:
- United States
6847. The Stockholm programme: Europe's next step to be an "area of freedom, security and justice"
- Author:
- Toby Archer
- Publication Date:
- 12-2009
- Content Type:
- Policy Brief
- Institution:
- Finnish Institute of International Affairs
- Abstract:
- The Stockholm Programme sets the agenda for the European Union's actions for the next five years in the area of Justice and Home Affairs (JHA). It is the next step towards the goal of making the EU into an Area of Freedom, Security and Justice (AFSJ). Justice and Home Affairs became the third pillar of the EU after the Maastricht Treaty came into force in 1993. Originally, it was firmly intergovernmental area of policy-making but some parts were transferred to the supranational first pillar when the treaty of Amsterdam came in to force 1999. In the same year the EU decided it need a focused plan for cooperation in this field for the next five years; and the Tampere Programme was produced. This was followed in 2004 by the Hague Programme that ends this year, and the Stockholm Programme will lay out the next five years of JHA cooperation. Producing the programme has been complicated due to both the sensitive nature of many of the issues covered and by doubt until recently over whether the Lisbon Treaty would be ratified. The ratification of Lisbon changes the power balance between the European Commission, Council and Parliament and this has ramifications for the JHA area. With the success of the EU single market and the end of border controls within the EU, to stop crime within the EU, to guarantee the rights of citizens who are moving between EU member states, and to manage people from third countries who are seeking to come into the EU, requires cooperation across the Union. The Stockholm Programme seeks to lay out what path this should take. Migration policy is an important and difficult part of the programme. How Europeanised dealing with irregular migrants and asylum seeker should be has been one of the politically difficult areas within the programme.
- Topic:
- Security, Civil Society, and Law
- Political Geography:
- Europe
6848. Bargaining in the Saudi bazaar: Common ground for a post-2012 climate agreement?
- Author:
- Mari Luomi
- Publication Date:
- 12-2009
- Content Type:
- Policy Brief
- Institution:
- Finnish Institute of International Affairs
- Abstract:
- Saudi Arabia's interests vis-à-vis international climate policy are fundamentally tied to its ownership of the world's largest proven oil reserves and its political economy, which depends on oil revenues for stability and survival. The 'discrimination' against carbon dioxide and fossil fuels is a recurring theme that reflects the country's disapproval of any constraints on global oil consumption. The Saudi position has evolved around four pillars: preserving oil revenues, receiving compensation for the adverse impacts of climate change mitigation, avoiding commitments, and acquiring technology and capacity for adaptation. Saudi Arabia's influence in the negotiations stems from a long-term strategy of obstructionism, the ultimate aim of which is to prevent an agreement from emerging. The country's status as a developing country is increasingly contested due to its high GDP per capita, while its calls for compensation for losses in oil revenue are strongly criticised, but Saudi Arabia still faces major development challenges, economic diversification being the most pressing. Although Saudi Arabia's position towards adaptation requires adjusting, there are clear points of dialogue with the West, including technology transfer and capacity building.
- Topic:
- Climate Change and Treaties and Agreements
- Political Geography:
- Middle East, Arabia, and Saudi Arabia
6849. Medvedev's amendments to the law on defence: The consequences for Europe
- Author:
- Yury E. Fedorov
- Publication Date:
- 11-2009
- Content Type:
- Policy Brief
- Institution:
- Finnish Institute of International Affairs
- Abstract:
- In November 2009, the 'Law on Amendments to the “Law on Defence”' proposed by President Medvedev entered into force. It allows the Kremlin to dispatch troops outside Russia for four purposes: to counter armed attacks against Russian armed forces, other troops and bodies deployed beyond its borders; to counter or prevent an armed attack against another country if this country has requested Russia to do so; to protect Russian citizens abroad from an armed attack; and to combat piracy and guarantee the safety of shipping. The law is an attempt to close the gap between Moscow's strategic goals, primarily the establishment of its geopolitical dominance over the former Soviet republics, and Russia's legislation, which restricted its ability to deploy armed forces beyond national borders. In effect, the amended legislation enables the Kremlin to deploy its armed forces abroad in a wide range of situations, precisely because of a lack of clear criteria. The wording of 'Medvedev's amendments' sheds light on some plans and scenarios that may be taking shape in Moscow. It is not beyond the realms of possibility that Russia may plan to ignite large-scale disturbances and ethnic clashes in Sevastopol or in Latvia and Estonia, which may be used as a pretext for Russian military intervention. A Russo-Ukrainian conflict in Crimea would pose not so much a military as a political challenge for Europe and the West. Even though Ukraine does not belong to these organizations, if NATO and the EU failed to respond to Russian intervention in Crimea with strong political and economic measures, their strategic relevance would be seriously undermined. If NATO did not defend its member states in the Baltic, the strategic role of the Alliance would be reduced to zero. The aforementioned scenarios fall into the worst-case category, yet there are numerous precedents in Russia's history which demonstrate that worst-case scenarios can become reality. European dependence on Russian energy supplies and interest in Russia's support in resolving the Iranian nuclear problem and the conflict in Afghanistan, as well as the Obama administration's interest in Russia's partnership in nuclear issues, constrain Western ability to respond. However, the West could and should make it quite clear that new Russia's military interventions will result in the country's political ostracization. Furthermore, the West could propose and develop an internationally recognised mechanism regulating the most important aspects of humanitarian intervention. In particular, it should minimise the ability of individual states to make unilateral decisions to intervene militarily if the UN Security Council were unable to make firm decisions. Such mechanisms could be discussed and developed in the frameworks of the UN, the OSCE, the so-called Corfu process and similar international forums.
- Topic:
- Security, Defense Policy, and Law
- Political Geography:
- Russia, Europe, and Asia
6850. Crossing Borders, Changing Landscapes: Land-Use Dynamics in the Golden Triangle
- Author:
- Jefferson Fox
- Publication Date:
- 12-2009
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- Over the last half-century, public policy has affected land-use practices across the borders linking China, Thailand, and Laos. Political and economic reforms have facilitated labor mobility and a shift in agricultural practices away from staple grains and toward a diverse array of cash crops, rubber being one of the foremost. China has promoted the conversion of forests to rubber agroforestry in southern Yunnan--profitable for farmers, but a concern in terms of biodiversity and long-term viability. In Thailand, the response is at the other end of the spectrum as the government's concerns about land-use practices and watershed management have led to policies that dramatically constrain land-use practices and limit tenure rights. In Laos the future is not yet clear. Government policies provide weak support for both private land ownership and protected areas. In a global environment where national policy has such a dramatic effect on land use and land cover, the factors behind land-use change merit close examination.
- Topic:
- Agriculture, Economics, Migration, and Labor Issues
- Political Geography:
- China, Asia, Thailand, and Southeast Asia