Search

Begin New Search Publishing Institution Columbia Center on Sustainable Investment Publication Year within 25 Years

191. The growth of Brazil's direct investment abroad and the challenges it faces

Author:
Luís Afonso Lima and Octavio de Barros
Publication Date:
08-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
The internationalization of Brazilian companies is a relatively recent phenomenon. From 2000 to 2003, outward foreign direct investment (OFDI) averaged USD 0.7 billion a year. Over the four-year period 2004−2008, this average jumped to nearly USD 14 billion. In 2008, when global FDI inflows were estimated to have fallen by 15%, OFDI from Brazil almost tripled, increasing from just over USD 7 billion in 2007 to nearly USD 21 billion in 2008 (annex figure 1 below). Central Bank data put the current stock of Brazilian OFDI at USD 104 billion, an increase of 89% over 2003. Caution is in order about these figures, however, as in Brazilian outflows it is difficult to separate authentic FDI from purely financial investment under the guise of FDI. According to the most recent data, 887 Brazilian companies have invested abroad.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Brazil and Latin America

192. Outward investment by Trans-Latin enterprises: reasons for optimism

Author:
Michael Mortimore and Carlos Razo
Publication Date:
08-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Despite the global crisis, outward FDI by Latin American firms grew by more than 40% in 2008. The picture for 2009 is less clear, due to the expected regional GDP contraction, falling commodity prices, and tightening credit markets. Nonetheless, the authors argue that many countervailing factors make Latin American investment more resilient in the crisis than other regions may be.
Political Geography:
Latin America

193. Outward investment by Trans-Latin enterprises: reasons for optimism

Author:
Michael Mortimore and Carlos Razo
Publication Date:
08-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Despite the global crisis, outward FDI by Latin American firms grew by more than 40% in 2008. The picture for 2009 is less clear, due to the expected regional GDP contraction, falling commodity prices, and tightening credit markets. Nonetheless, the authors argue that many countervailing factors make Latin American investment more resilient in the crisis than other regions may be.
Topic:
Economics, International Trade and Finance, and Foreign Direct Investment
Political Geography:
Latin America

194. Indian FDI falls in global economic crisis: Indian multinationals tread cautiously

Author:
Jaya Prakash Pradhan
Publication Date:
08-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Just over a year ago, outward foreign direct investment (OFDI) from India seemed to be on a path of rapid and sustained growth. Its annual average growth of 98% during 2004–07 had been unprecedented , much ahead of OFDI growth from other emerging markets like China (74%), Malaysia (70%), Russia (53%), and the Republic of Korea (51%), although from a much lower base. Much of this recent growth had been fuelled by large-scale overseas acquisitions, however, and it faltered when the global financial crisis that started in late 2007 made financing acquisitions harder.
Topic:
Development, Economics, Foreign Direct Investment, and Financial Crisis
Political Geography:
Russia, China, Malaysia, India, and Korea

195. National Security with a Canadian Twist: The Investment Canada Act and the New National Security Review Test

Author:
Subrata Bhattacharjee
Publication Date:
07-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
On March 12, 2009, the Canadian federal government passed significant amendments to the Investment Canada Act (ICA), Canada's foreign investment law of general application. Though the amendments generally liberalize important aspects of the Canadian foreign investment review regime, they also include a broadly worded national security test that now allows the responsible Minister to review proposed investments in Canada on national security grounds. On July 11, 2009, the government published draft regulations that provide the details of the new national security review process. A detailed summary of the amendments and regulations is included in an extended note available at www.vcc.columbia.edu.
Topic:
Economics and Foreign Direct Investment
Political Geography:
Canada

196. Are SWFs Welcome Now?

Author:
Veljko Fotak and William Megginson
Publication Date:
07-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Until the end of 2007, western media, governments and regulators often seemed more concerned about protecting domestic firms from investments by sovereign wealth funds (SWFs) than about attracting capital inflows. Politicians in many countries called for the regulation of sovereign foreign investments at that time, when SWF investments were growing rapidly. In fact, during 2006 and 2007, countries that introduced at least one regulatory change (many of them related to such investments) making the investment climate less welcoming for multinational enterprises accounted for 40% of all FDI inflows.
Topic:
Economics, International Trade and Finance, Foreign Direct Investment, and Sovereign Wealth Funds

197. Land grab or development opportunity? International farmland deals in Africa

Author:
Lorenzo Cotula
Publication Date:
06-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Over the past 12 months, large-scale acquisitions of farmland in Africa, Latin America, Central Asia and Southeast Asia have made headlines in a flurry of media reports across the world. Lands that only a short time ago seemed of little outside interest are now being sought by international investors to the tune of hundreds of thousands of hectares.
Topic:
Agriculture, International Trade and Finance, and Foreign Direct Investment
Political Geography:
Africa and Latin America

198. International Investment Arbitration: Winning, Losing and Why

Author:
Susan D. Franck
Publication Date:
06-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
We know several things about foreign investment. First, foreign investment matters, reaching US$1.7 trillion in 2008. Second, we know that foreign investors have new international law rights to protect their economic interests. Third, we know that those rights are now being used.
Topic:
Economics, International Trade and Finance, and Foreign Direct Investment
Political Geography:
United States

199. 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

200. 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