Regulating International Business : Beyond Liberalization

This timely book points the way towards a new positive regulatory framework for international investment following the failure of the Multilateral Agreement on Investment (MAI). It examines the flaws in free-market strategies underpinning the recent phase of globalization, in particular drawing out the lessons from the MAI, which was suspended in October 1998. The authors explore an alternative based on a positive regulatory framework for international business aimed at maximizing the positive contribution to development of foreign investment and minimizing its negative social and environmental impacts. The contributors include academics, researchers for non-governmental organizations, and business and trade-union representatives, writing from a combination of economic, legal and political perspectives. The book combines academic analysis with grass-roots and practical experience, and suggests concrete policy proposals.

This timely book arose from a seminar Rights and Responsibilities: New Approaches to International Business Rules, organized by the International Business Regulation Forum with Oxfam GB. It points the way towards a positive regulatory framework for International investment following the failure of the Multilateral Agreement on Investment (MAI). It examines the flaws in free-market strategies underpinning the recent phase of globalization, in particular drawing out the lessons from the MAI, suspended in October 1998. Contributors explore an alternative based on a positive regulatory framework for international business, aimed at maximizing the positive contribution to development of foreign investment and minimizing its negative social and environmental impacts. The contributors include academics, researchers for non-governmental organizations, and business and trade-union representatives, writing from a combination of economic, legal, and political perspectives. The book combines academic analysis with grassroots and practical experience, and suggests concrete policy proposals.

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Arguing that increased global economic integration and interdependence needs to be underpinned by a strengthened international regulatory framework, this collection of 14 articles is arranged in four sections addressing a historical and critical evaluation of international investment protection and liberalization; a broader agenda, including the implications of the MAI for use of natural resources and land, improving investor accountability, and labor regulations in international markets; interactions between formal and informal regulations such as the role of voluntary codes of conduct and regulation and corporate codes of conduct; and the politics of accountability. Contributors include international legal, development, economic, policy, and other scholars and foundation leaders. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Front Matter....Pages i-xi Introduction: What Rules for the World Economy?....Pages 1-26 Front Matter....Pages 27-27 Foreign Direct Investment to Developing Countries....Pages 29-46 A Brief History of Business Regulation....Pages 47-59 Defending the Legacy of Rio: the Civil Society Campaign against the MAI....Pages 60-81 A Critical Assessment of the MAI....Pages 82-105 Front Matter....Pages 107-107 Implications of the MAI for Use of Natural Resources and Land....Pages 109-125 Improving Investor Accountability....Pages 126-141 Transfer of Technology and Competition Policy in the Context of a Possible Multilateral Investment Agreement....Pages 142-160 Stabilizing Capital Flows to Developing Countries: the Role of Regulation....Pages 161-182 Labour Regulation in Internationalized Markets....Pages 183-202 Front Matter....Pages 203-203 Corporate Codes of Conduct: the Privatized Application of Labour Standards....Pages 205-220 The Role of Voluntary Codes of Conduct and Regulation — a Retailer’s View....Pages 221-234 Regulating TNCs: the Role of Voluntary and Governmental Approaches....Pages 235-254 Front Matter....Pages 255-255 NGOs, Global Civil Society and Global Economic Regulation....Pages 257-272 Back Matter....Pages 273-277 Arguing that increased global economic integration and interdependence needs to be underpinned by a strengthened international regulatory frame work, this collection of 14 articles is arranged in four sections addressing a historical and critical evaluation of international investment protection and liberalization; a broader agenda, including the implications of the MAI for use of natural resources and land, improving investor accountability, and labor regulations in international markets; interactions between formal and informal regulations such as the role of voluntary codes of conduct and regulation and corporate codes of conduct; and the politics of accountability. The Multilateral Agreement on Investment (MAI) is set to be a major topic of global controversery in the next year or so. This book points the way towards a new positive regulatory framework for international investment following the failure of MAI This book is a contribution to the debate about one of the most important public issues at the turn of the millennium: the institutions and rules which are to govern the world economy.