Sasse An Economic Analysis of Bilateral Investment Treaties

2011
ISBN: 978-3-8349-6185-3
Verlag: Betriebswirtschaftlicher Verlag Gabler
Format: PDF
Kopierschutz: Wasserzeichen (»Systemvoraussetzungen)

E-Book, Englisch, 239 Seiten, eBook

Reihe: Ökonomische Analyse des Rechts

Dr. Jan Peter Sasse completed his doctoral thesis at the University of Hamburg under the supervision of Prof. Dr. Thomas Eger, Managing Director of the Institute of Law and Economics. He now works in the public sector.

Zielgruppe

Research

Autoren/Hrsg.

Sasse, Jan Peter

Inhaltsverzeichnis

1;Foreword;6
2;Acknowledgements;8
3;Summary Contents;9
4;Detailed Contents;10
5;List of Figures;17
6;List of Abbreviations;18
7;List of Variables;20
8;1 Introduction;21
8.1;1.1 International Law and Economics;22
8.2;1.2 Structure;24
9;2 Foreign Direct Investment;26
9.1;2.1 Trends and Figures;26
9.2;2.2 Multinational Enterprises and FDI;28
9.3;2.3 FDI and Development;32
10;3 Economic and Legal Protection of FDI;37
10.1;3.1 Time Inconsistency and Expropriation Risk;37
10.1.1;3.1.1 Time Inconsistency;37
10.1.2;3.1.2 On the Relevance of Expropriation Risk;42
10.2;3.2 The Economics of FDI Protection;42
10.2.1;3.2.1 Static Devices;43
10.2.2;3.2.2 Dynamic Devices;53
10.2.3;3.2.3 Discussion;60
10.3;3.3 Legal FDI Protection;60
10.3.1;3.3.1 Domestic Regulation;61
10.3.2;3.3.2 Customary International Law;61
10.3.3;3.3.3 Multilateral Treaties;63
10.3.4;3.3.4 Investor-State Contracts;65
10.3.5;3.3.5 Bilateral Investment Treaties;65
11;4 The Economics of BITs;87
11.1;4.1 The (Perceived) Weakness of International Law;87
11.2;4.2 The Effect of BITs on FDI;89
11.2.1;4.2.1 Empirical Studies on the Effect of BITs on FDI;89
11.2.2;4.2.2 Discussion;92
11.3;4.3 Law and Economics of International Law;93
11.3.1;4.3.1 Theories of International Law;94
11.3.2;4.3.2 Rational Choice Approach;94
11.3.3;4.3.3 Methodological Individualism;95
11.3.4;4.3.4 The Three R's: Reputation, Reciprocity and Retaliation;96
11.4;4.4 The Functioning of BITs;98
11.4.1;4.4.1 The Costs of BITs;98
11.4.2;4.4.2 Commitment and Signalling;104
11.4.3;4.4.3 Commitment;105
11.4.4;4.4.4 Signalling;122
11.4.5;4.4.5 Beyond Commitment and Signalling;137
11.5;4.5 Empirical Studies and the Functioning of BITs;140
11.6;4.6 Discussion and Conclusions;141
12;5 BITs and Institutional Competition;144
12.1;5.1 Efficiency and BITs;144
12.2;5.2 Institutional Competition;147
12.2.1;5.2.1 BITs and the Prisoner’s Dilemma;147
12.2.2;5.2.2 The Economics of Institutional Competition;149
12.2.3;5.2.3 Discussion;155
12.3;5.3 BITs in the Context of Institutional Competition;156
12.3.1;5.3.1 BITs and Self-Interested Governments;157
12.3.2;5.3.2 BITs and the Prisoner's Dilemma Revisited;162
12.4;5.4 Provisions and Evidence;165
12.4.1;5.4.1 Non-Discrimination;165
12.4.2;5.4.2 Fair and Equitable Treatment (FET);166
12.4.3;5.4.3 Indirect Expropriation;167
12.4.4;5.4.4 Evidence;168
12.5;5.5 Discussion and Conclusions;172
13;6 BITs and Institutional Quality;175
13.1;6.1 The Effect of BITs on Institutional Quality;175
13.1.1;6.1.1 Some Theory;175
13.1.2;6.1.2 Empirical Literature;178
13.2;6.2 Model and Data;180
13.2.1;6.2.1 Fixed-Effects Model;180
13.2.2;6.2.2 Variables;182
13.2.3;6.2.3 Summary Statistics 6.2.4 Regulatory Quality and the Rule of Law;186
13.2.4;6.2.5 Corruption;192
13.2.5;6.2.6 Outliers, Economic Freedom and OECD BITs;193
13.3;6.3 Caveats;193
13.3.1;6.3.1 Selection and Composition of Variables;194
13.3.2;6.3.2 Perception Based Indicators;194
13.4;6.4 Discussion and Conclusions;195
14;7 BITs and Transparency;197
14.1;7.1 Legal Background;197
14.2;In conclusion,;200
14.3;7.2 The Case for Transparency;201
14.3.1;7.2.1 International Law;201
14.3.2;7.2.2 International Investment Law;203
14.4;7.3 The Case for Confidentiality;204
14.4.1;7.3.1 Conventional Arguments for Confidentiality;205
14.4.2;7.3.2 Structural Arguments for Confidentiality;206
14.4.3;7.3.3 More Transparency?;216
14.5;7.4 Discussion and Conclusions;216
15;8 Summary and Outlook;219
15.1;8.1 Summary;219
15.2;8.2 Outlook;223
16;Appendices;224
16.1;Appendix A;224
16.2;Appendix B;226
16.3;Appendix C;230
16.4;Appendix D;235
17;Bibliography;239

Über Autor(innen)

Dr. Jan Peter Sasse completed his doctoral thesis at the University of Hamburg under the supervision of Prof. Dr. Thomas Eger, Managing Director of the Institute of Law and Economics. He now works in the public sector.