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International investment agreements and services markets: locking in market failure?

Manger, Mark S. (2008) International investment agreements and services markets: locking in market failure? World Development, 36 (11). pp. 2456-2469. ISSN 0305-750X

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Abstract

Bilateral investment treaties (BITs) and investment chapters in preferential trade agreements have become popular measures to guarantee investor-friendly policies.While they reassure multinational firms, they also constrain host country authorities in regulating markets to stimulate competition. These problems are widespread in service industries characterized by significant economies of scale. This paper presents case studies of the difficulties the Chilean regulatory authorities faced in regulating the financial services, telecom, and energy industries. It concludes that able regulators are necessary,but that international agreements need to also leave enough policy space.

Item Type: Article
Official URL: http://www.elsevier.com/locate/worlddev
Additional Information: © 2008 Elsevier
Library of Congress subject classification: H Social Sciences > HG Finance
H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System: K - Law and Economics > K2 - Regulation and Business Law
Sets: Departments > International Relations
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 28 Sep 2009 15:55
URL: http://eprints.lse.ac.uk/25291/

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