The European Union's New Powers on Foreign Direct Investment: Implications for International Business and Global Economic Stability

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Title The European Union's New Powers on Foreign Direct Investment: Implications for International Business and Global Economic Stability
Author Bishop, Bernard
Publication Title EIBA 36th Annual Conference
Editor Ana Teresa Tavares-Lehmann
Year Published 2010
Place of publication Porto, Portugal
Publisher European International Business Academy
Abstract The Lisbon Treaty has given EU institutions power over foreign direct investment (FDI). The Commission has indicated that it will use these powers to develop an EU wide FDI policy. FDI policy consists of measures to protect investment, restrictions that apply to FDI and measures to promote investment including incentives. Initially, the new EU FDI policy is likely to be confined to the protection of investment and, more specifically, the gradual replacement of member states' bilateral investment treaties (BITs) with EU wide treaties. By leaving investment incentives and restrictions within the control of member states for the time being, the Commission is taking a pragmatic approach that seeks to minimize resistance from member states to its new powers. While some hurdles will need to be overcome, EU wide protection of investment can be argued to result in benefits for international businesses both inside and outside of the EU as well as for the EU itself. Further, an EU wide policy has the potential to pave the way for a global investment agreement which would create a more certain global environment for FDI and hence contribute to global economic stability.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.eiba-online.org
Conference name 36th Conference of the European International Business Academy (EIBA 2010)
Location Porto, Portugal
Date From 2010-12-09
Date To 2010-12-11
URI http://hdl.handle.net/10072/36639
Date Accessioned 2011-01-06
Date Available 2011-02-28T10:02:07Z
Language en_AU
Faculty Griffith Business School
Subject PRE2009-Political Economy
Publication Type Conference Publications (Full Written Paper - Refereed)
Publication Type Code e1

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