- Paperback: 296 pages
- Publisher: Palgrave Macmillan (31 Aug 1999)
- Language English
- ISBN-10: 033377678X
- ISBN-13: 978-0333776780
- Product Dimensions: 21.3 x 13.2 x 2 cm
- Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)
- Amazon Bestsellers Rank: 3,349,345 in Books (See Top 100 in Books)
- See Complete Table of Contents
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'The authors offer a timely and important contribution to the debate on global governance and the role of international business.' - Jane Nelson, Director, Policy and Research, The Prince of Wales Business Leaders Forum
'The contributors to this forward-looking volume offer much insight into why regulating international business and foreign direct investment flows increasingly will be front and centre of the public's agenda. Policy-makers and an informed public have to realize that the old ways of thinking about globalization no longer are adequate. The authors explain in an innovative but realistic way how the rules and institutions governing the global economy have to be rethought and a new global order fashioned.' - Daniel Drache, Professor of Political Economy, York University, Toronto, Canada
'Blanket liberalization - a belief in the ability of the market to 'deliver' - is clearly now being called into question. This stimulating book, coming as it does after the MAI debacle, is very welcome and will add a great deal to the arguments we will have to make for a regulatory framework capable of dealing with the issues posed by the impact of globalization.' - Glenys Kinnock, MEP
'An excellent, though critical, response to the MAI...contains innovative solutions to some major problems generated by globablization...[and] many useful insights couched in non-technical prose, on differing approaches to the problem of restraining the more pernicious aspects of a global economy.' - Times Literary Supplement
'Regulating International Business does contain many useful insights, couched in non-technical prose, on differing approaches to the problem of restraining the more pernicious aspects of a global economy.' - Julian Mitchell, Times Literary Supplement
'A collection that pushes out new frontiers in the study of globalization. These essays tackle in a fresh way some of the major policy challenges of our time.' - Professor John Braithwaite, Australian National University
'This is an invaluable and insightful collection of essays on a topic of central importance in world policy. It can be read with illumination and profit by both researchers and policy-makers.' - Professor Jagdish Bhagwati, Arthur Lehman Professor of Economics, Columbia University
'The contributors to this forward-looking volume offer much insight into why regulating international business and foreign direct investment flows increasingly will be front and centre of the public's agenda. Policy-makers and an informed public have to realize that the old ways of thinking about globalization no longer are adequate. The authors explain in an innovative but realistic way how the rules and institutions governing the global economy have to be rethought and a new global order fashioned.' - Daniel Drache, Professor of Political Economy, York University, Toronto, Canada
'Blanket liberalization - a belief in the ability of the market to 'deliver' - is clearly now being called into question. This stimulating book, coming as it does after the MAI debacle, is very welcome and will add a great deal to the arguments we will have to make for a regulatory framework capable of dealing with the issues posed by the impact of globalization.' - Glenys Kinnock, MEP
'An excellent, though critical, response to the MAI...contains innovative solutions to some major problems generated by globablization...[and] many useful insights couched in non-technical prose, on differing approaches to the problem of restraining the more pernicious aspects of a global economy.' - Times Literary Supplement
'Regulating International Business does contain many useful insights, couched in non-technical prose, on differing approaches to the problem of restraining the more pernicious aspects of a global economy.' - Julian Mitchell, Times Literary Supplement
'A collection that pushes out new frontiers in the study of globalization. These essays tackle in a fresh way some of the major policy challenges of our time.' - Professor John Braithwaite, Australian National University
'This is an invaluable and insightful collection of essays on a topic of central importance in world policy. It can be read with illumination and profit by both researchers and policy-makers.' - Professor Jagdish Bhagwati, Arthur Lehman Professor of Economics, Columbia University
Product Description
The suspension of the negotiations for the proposed Multilateral Agreement on Investment (MAI) in October 1998 marked a turning-point in the international debate and negotiations on liberalization. The MAI's failure followed a world-wide grassroots campaign that exposed its flaws and made it difficult for governments to win the necessary domestic political support. As a result future negotiations for international economic agreements will need to address public concerns and consider new approaches.
This timely book offers proposals for a new positive regulatory framework for international business aimed at reducing poverty and promoting sustainable development. It examines the flaws in neo liberal strategies underpinning the recent phase of globalization, especially the lessons from the MAI. The book combines academic analysis with practical experience. Contributors include academics, researchers for non-governmental organizations and business and trade-union representatives, writing from a combination of economic, legal and political perspectives.
This timely book offers proposals for a new positive regulatory framework for international business aimed at reducing poverty and promoting sustainable development. It examines the flaws in neo liberal strategies underpinning the recent phase of globalization, especially the lessons from the MAI. The book combines academic analysis with practical experience. Contributors include academics, researchers for non-governmental organizations and business and trade-union representatives, writing from a combination of economic, legal and political perspectives.
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Format:Paperback
This excellent book reviews the contents of the Multilateral Agreement on Investment (MAI) and accounts for the reasons why the international non-governmental organizations (NGO) community campaigned against it. Emerged out of an NGO conference concerning the MAI in 1998, it consists of different speeches revised for the purpose of publication, which makes it an easy reading even for laypersons. Although it is written from the point of view of NGOs, it presents a (surprisingly, I must say) balanced argument, weighing pros and cons of foreign direct investment (FDI) to developing countries, instead of condemning it as mere act of neo-colonialism.
It states compellingly that the MAI draft (1) was biased in favor of business interests, (2) restricted states' ability to alter legislation concerning business regulation and (3) favored foreign investors over domestic ones, overfulfilling the free-trade postulation of "national treatment" of foreign firms.
The Oxfam-published book does not vote against a multilateral agreement on investment in principle. It just reminds us of two crucial conditions which must be met to ensure that FDI delivers beneficial outcomes for development: (1) rights and obligations for businesses must be balanced in such an agreement and (2) global liberalization must go hand in hand with an empowerment of the international community of states (or a supranational body) to also regulate business activity globally.
It states compellingly that the MAI draft (1) was biased in favor of business interests, (2) restricted states' ability to alter legislation concerning business regulation and (3) favored foreign investors over domestic ones, overfulfilling the free-trade postulation of "national treatment" of foreign firms.
The Oxfam-published book does not vote against a multilateral agreement on investment in principle. It just reminds us of two crucial conditions which must be met to ensure that FDI delivers beneficial outcomes for development: (1) rights and obligations for businesses must be balanced in such an agreement and (2) global liberalization must go hand in hand with an empowerment of the international community of states (or a supranational body) to also regulate business activity globally.
PS: If you'd like to get another point of view on the MAI, read David Henderson: "The MAI Affair" (1999)
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