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102. Thinking twice about a gold rush: Pacific Rim v El Salvador
- Author:
- Gus Van Harten
- Publication Date:
- 05-2010
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Whether it concerns oil drilling or gold mining, sometimes a government, facing new circumstances, must change its mind.
- Topic:
- Economics, International Trade and Finance, and Foreign Direct Investment
- Political Geography:
- Latin America
103. Inward FDI in Colombia and its policy context
- Author:
- Miguel Posada Betancourt
- Publication Date:
- 09-2010
- Content Type:
- Working Paper
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Colombia used to be a synonym for violence and drugs, but not anymore. Today, the country has one of the best performing economies in Latin America, and violence levels have been dramatically reduced. The outgoing administration made improving investor confidence and the business environment one of the pillars of its policy. As a result of important reforms and aggressive campaigns to promote the country as an attractive location, inward foreign direct investment (IFDI) has risen to unprecedented levels. Due to these positive changes, Colombia has been designated a “top reformer” for the past four years in the World Bank's Doing Business reports, and the new Government has promised to maintain and reinforce efforts to attract foreign investment. Even though IFDI flows decreased in the past two years as a consequence of the economic and financial crisis, many foreign affiliates in Colombia achieved positive profits. A country that a decade ago was avoided is now in many investors' plans.
- Topic:
- Development, Economics, War on Drugs, and Foreign Direct Investment
- Political Geography:
- Colombia and Latin America
104. Inward FDI in Peru and its policy context
- Author:
- Benjamin Chavez and Jaime Dupuy
- Publication Date:
- 08-2010
- Content Type:
- Working Paper
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Peru has shifted from being a small FDI player in the Latin America and Caribbean region in the 1990s to being the sixth largest FDI host country in 2008. With inflows of US$ 6.9 and US$ 4.8 billions in 2008 and 2009, respectively, Peru has managed to contain the impact of the financial crisis on inward FDI (IFDI). The main determinants of the improved FDI performance were: a stable economic and FDI policy since 1992;) vast natural resources; strong gross domestic product (GDP) and market growth; and an export-oriented economy, especially during the past decade. In recent years, Peru has become one of the fastest growing economies in Latin America and a diversified commercial hub for IFDI in the region.
- Topic:
- Economics, Monetary Policy, and Foreign Direct Investment
- Political Geography:
- Latin America, Caribbean, and Peru
105. Is a model EU BIT possible—or even desirable?
- Author:
- Armand de Mestral
- Publication Date:
- 03-2010
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- The Treaty on the Functioning of the European Union (TFEU), which entered into force on December 1, 2009, extends the Common Commercial Policy (CCP) articles 206 and 207 to embrace “foreign direct investment.” This raises the question of whether the EU is now in a position to adopt a model BIT articulating a common policy on foreign direct investment (FDI). An EU policy on FDI could replace the disparate efforts of the 27 member states, complementing and reinforcing their efforts and presenting a stronger image to the world, especially at a time when the EU appears to have lost ground to other jurisdictions as a preferred destination for FDI.
- Topic:
- Economics, Treaties and Agreements, and Foreign Direct Investment
- Political Geography:
- Europe
106. It's time for an EU Investment Promotion Agency
- Author:
- José Guimón
- Publication Date:
- 03-2010
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- One important novelty of the Lisbon Treaty, ratified by the EU in December 2009, is the inclusion of FDI within the scope of Common Commercial Policy, implying a transfer of certain FDI competences from the member states to the EU, which now has the ability to conclude international investment treaties. Until now, member states had full competence over FDI, and the role of EU institutions was very limited. It remains to be seen how the new Treaty will be interpreted and implemented in light of the difficult legal and political questions that this development raises.
- Topic:
- Economics, Treaties and Agreements, and Foreign Direct Investment
- Political Geography:
- Europe
107. Inward FDI in Russia and its policy context
- Author:
- Alexey Kuznetsov
- Publication Date:
- 11-2010
- Content Type:
- Working Paper
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- In the 2000s, Russia became a significant host for inward foreign direct investment (IFDI). But its investment climate problems, especially corruption, do not allow Russia to exploit its locational advantages to the full. Russia attracts mainly European investors in a rather narrow range of industries (although the share of mining is decreasing) and regions (mainly in Moscow, St. Petersburg and oil-rich Sakhalin). However, even during the crisis, a new industrial cluster has developed near Kaluga and some large mergers and acquisitions (M) and greenfield projects have been realized outside the Central and North-West federal districts. Russia is trying to diversify the structure and geography of IFDI using incentives (e.g. in special economic zones).
- Topic:
- Corruption, Economics, and Foreign Direct Investment
- Political Geography:
- Russia and Europe
108. What will an appreciation of China's currency do to inward and outward FDI?
- Author:
- Karl P. Sauvant and Ken Davies
- Publication Date:
- 10-2010
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- What will an appreciation of the Chinese yuan do to China's inward and outward direct investment? The discussion so far has been almost exclusively about the impact on China's trade balance. But it is at least as important to see what effect it may have on the country's inward foreign direct investment (IFDI), which plays such a crucial role in China's economic development, and its outward FDI (OFDI), which is receiving increased attention worldwide.
- Topic:
- Economics, Foreign Exchange, International Trade and Finance, and Foreign Direct Investment
- Political Geography:
- China
109. Indian FDI falls in global economic crisis: Indian multinationals tread cautiously
- Author:
- Jaya Prakash Pradhan
- Publication Date:
- 08-2009
- Content Type:
- Working Paper
- 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:
- Economics, International Political Economy, International Trade and Finance, Markets, Foreign Direct Investment, and Financial Crisis
- Political Geography:
- Russia, China, South Asia, Malaysia, and Korea
110. Outward investment by Trans-Latin enterprises: reasons for optimism
- Author:
- Michael Mortimore and Carlos Razo
- Publication Date:
- 08-2009
- Content Type:
- Working Paper
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Despite the current economic crisis, outward foreign direct investment (OFDI) by Latin American and Caribbean enterprises continued its upward trend in 2008 (annex figure 1). OFDI by firms in the region reached nearly USD 35 billion in 2008, an increase of 42% with respect to 2007 (ECLAC, 2009a). However, several of the factors that fostered such growth have recently changed, possibly affecting OF DI prospects for 2009. This Perspective briefly explores these changes and their potential effects on firms' investing behavior, as well as some important countervailing factors that may cushion the effects of the economic crisis on Latin American firms' investment plan.
- Topic:
- Development, Economics, International Trade and Finance, Markets, and Foreign Direct Investment
- Political Geography:
- Latin America and Mexico