Protecting Foreign Investment: Implications of A WTO Regime by Carlos Correa, Nagesh Kumar

By Carlos Correa, Nagesh Kumar

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Sample text

A number of studies have compared the dependence of foreign and local firms on imported raw materials in order to get an idea of the extent of linkages generated in the domestic economy, as the local content in production is an indicator of the strength of local linkages. Foreign affiliates can be expected to import a higher proportion of their raw materials and other inputs than local firms, because of their familiarity with foreign suppliers and the alleged inadequacies of local producers, and sometimes to provide a market for the products of their associates elsewhere.

MIGA’s standard policy covers investments for 15 years; in exceptional cases, coverage may be extended up to 20 years. MIGA also cooperates with national investment insurance agencies and private insurers to co-insure or reinsure eligible investments. MIGA also provides promotion and advisory services to its developing member countries to support their efforts to attract foreign direct investment. These services include the organization of investment pro-  |   motion conferences, executive development programmes, foreign investment policy roundtables, research and specialized advisory assistance to governments.

OECD Guidelines for MNEs The OECD Guidelines on International Investment and Multinational Enterprises adopted in 1976 lay out a rather comprehensive set of voluntary norms of behaviour for TNCs. A number of these guidelines deal in part with issues that are causes of concern to the governments, including their fiscal authorities, and to the international labour movement. In a sense, the OECD Guidelines cover the behaviour both of governments and TNCs; they are comprehensive from the point of view of coverage of substantive issues, but limited geographically to developed countries.

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