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21. Go out and manufacture: Policy support for Chinese FDI in Africa

Author:
Nikia Clarke
Publication Date:
11-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Energy investments and infrastructure contracts remain prominent in China's Africa engagement. However, investment in manufacturing makes up a significant proportion of Chinese outward foreign direct investment (FDI). Its characteristics–large numbers of smaller transactions by privately owned small and medium-sized firms–make these flows difficult to assess or control. However, China and African governments have an interest in effectively channeling this type of FDI.
Topic:
Development, Economics, Industrial Policy, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Africa and China

22. Three challenges for China's outward FDI policy

Author:
Karl P. Sauvant
Publication Date:
10-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Since China adopted its "going out" policy in 2001, her outward foreign direct investment (OFDI) flows have grown rapidly, reaching US$84 billion in 2012 (although the stock remains small). That year, China was the world's third largest outward investor (after the US and Japan). This performance raises all sorts of issues, especially because state-owned enterprises (SOEs) control some three-quarters of the country's OFDI stock. Three challenges are addressed in this Perspective.
Topic:
Development, Economics, Emerging Markets, and Foreign Direct Investment
Political Geography:
United States, Japan, and China

23. Inward FDI in Ireland and its policy context, 2012

Author:
Louis Brennan and Rakhi Verma
Publication Date:
03-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
Despite the global financial and economic crises and a sharp downturn in the domestic economy between 2008 and 2009, Ireland managed to attract large inflows of foreign direct investment (FDI) in 2010. Inward FDI (IFDI) flows in 2010 were at a similar level to those in 2009, the second highest in Ireland's FDI history. However in 2011, there was a decline in such flows. While Ireland's economy has been greatly affected by the global crisis, Irish government initiatives have further fostered the country's attractiveness as an investment location for the world's firms. All indications are that Ireland's IFDI performance will continue to surpass that of most countries into the near future.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Europe and Ireland

24. Inward FDI in Germany and its policy context, 2012

Author:
Thomas Jost
Publication Date:
04-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
In 2011 and the first half of 2012, inward FDI (IFDI) flows to Germany continued to be relatively strong. Germany attracte market-seeking MNEs, as its economy showed remarkable economic growth despite the ongoing problems in many other countries of the Eurozone. In the second half of 2012, IFDI flows turned sharply negative, declining for the year as a whole to only US$ 7 billion, compared with US$ 49 billion in 2011. This decline reflects the difficult financial situation of many companies, including banks in the Eurozone, and could also dampen inflows in 2013. In the longer-term, Germany could profit again from rising FDI as its economy has successfully implemented reforms over the past decade, and the German Government has continued to keep its investment policy regime open.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
United States, Europe, and Germany

25. Outward FDI from Israel's Largest MNEs Continues to Rise in 2011

Publication Date:
04-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
Recanati Business School of Tel Aviv University, The Manufacturers Association of Israel, and the Vale Columbia Center on Sustainable International Investment (VCC), a joint center of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their fifth annual survey of Israeli multinational enterprises (MNEs) today. The survey is part of the Emerging Market Global Players (EMGP) project, a long-term study of the rapid global expansion of MNEs from emerging markets. The results released today focus on data for the year 2011.
Topic:
Economics, Emerging Markets, Markets, and Foreign Direct Investment
Political Geography:
New York and Middle East

26. Toward a multilateral framework for investment

Author:
Nicolle Graugnard
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Business needs a stable and predictable investment environment, especially in times of economic uncertainty, to continue to generate employment and create wealth. Although foreign direct investment (FDI) flows rose for two years after plummeting in the wake of the global financial crisis, they fell again by 18% to US$ 1.4 trillion in 2012. According to UNCTAD, the major factors contributing to this sharp decline were economic fragility and policy uncertainty in several economies. Moreover, investment regulations classified as “restrictive” rose to 25% in 2012, compared to just 6% in 2000; “liberalizing” regulations were 75 % of the total in 2012, compared to 94% in 2000. The result of these regulations is, therefore, not surprising: businesses are holding back on new investments, with multinational enterprises reporting record cash-holdings of between US$ 4 to 5 trillion.
Topic:
Development, Economics, International Cooperation, International Trade and Finance, Foreign Direct Investment, and Governance

27. The futile debate over a multilateral framework for investment

Author:
Axel Berger
Publication Date:
08-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
One of the recurrent debates on international investment rule-making relates to the question whether it is possible to establish a multilateral framework for investment (MFI). Proponents argue that growing foreign direct investment (FDI) from emerging countries, especially China, contributes to a new consensus on global investment rules.
Topic:
Economics, Globalization, International Trade and Finance, Regional Cooperation, and Foreign Direct Investment
Political Geography:
China

28. The need for an international investment consensus-building process

Author:
Karl P. Sauvant and Federico Ortino.
Publication Date:
08-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Discussions on a multilateral investment framework have recently seen a revival, as the International Chamber of Commerce, the World Economic Forum and various authors have called for negotiations on this subject. A growing number of countries have been reviewing and adapting their international investment policies. This reflects dissatisfaction with the current international investment law regime, and a desire to improve it.
Topic:
Economics, International Law, International Trade and Finance, and Foreign Direct Investment

29. Cost allocation in investment arbitration: Back toward diversification

Author:
Baiju S. Vasani and Anastasiya Ugale
Publication Date:
07-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
In 2006, the Thunderbird tribunal, operating under the UNCITRAL Arbitration Rules, called for the harmonization of cost-allocation approaches in commercial and investment arbitration. Subsequent tribunals appear to be heeding Thunderbird's call paving a trend in favor of the so-called “costs follow the event” (CFtE) approach and its variations. Generally, this approach prescribes the shifting of arbitral costs and reasonable legal fees to the unsuccessful party (or based on parties' relative success) and has historically been prevalent in commercial arbitration. By contrast, the more traditional approach in investment arbitration has been to share the costs of arbitration equally, save for special circumstances, with each party covering its own legal fees (traditional approach). In the wake of what appears to be an emerging trend in favor of a default CFtE custom, it is time to revisit the idea of whet her a single harmonized approach to cost allocation is really appropriate. We suggest that it most likely is not.
Topic:
Development, Economics, Emerging Markets, International Trade and Finance, and Foreign Direct Investment

30. Toward a multilateral framework for investment

Author:
Nicolle Graugnard
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Business needs a stable and predictable investment environment, especially in times of economic uncertainty, to continue to generate employment and create wealth. Although foreign direct investment (FDI) flows rose for two years after plummeting in the wake of the global financial crisis, they fell again by 18% to US$ 1.4 trillion in 2012. According to UNCTAD, the major factors contributing to this sharp decline were economic fragility and policy uncertainty in several economies. Moreover, investment regulations classified as “restrictive” rose to 25% in 2012, compared to just 6% in 2000; “liberalizing” regulations were 75% of the total in 2012, compared to 94% in 2000. The result of these regulations is, therefore, not surprising: businesses are holding back on new investments, with multinational enterprises reporting record cash-holdings of between US$ 4 to 5 trillion.
Topic:
Development, Economics, Industrial Policy, International Trade and Finance, and Natural Resources