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Making Foreign Investment Safe - Property Rights and National Sovereignty (Hardcover)
Loot Price: R1,055
Discovery Miles 10 550
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Making Foreign Investment Safe - Property Rights and National Sovereignty (Hardcover)
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Donate to Against Period Poverty
Total price: R1,075
Discovery Miles: 10 750
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With real case stories, Wells and Ahmed bring to life both the
hopes for and the failures of international guarantees of property
rights for investors in the developing world. Their cases focus on
infrastructure projects, but the lessons apply equally to many
other investments. In the 1990's inexperienced firms from rich
countries jumped directly into huge projects in some of the world's
least developed countries. Their investments reflected almost
unbridled enthusiasm for emerging markets and trust in new
international guarantees. Yet within a few years the business pages
of the world press were reporting an exploding number of serious
disputes between foreign investors and governments. As the expected
bonanzas proved elusive and the protections weaker than
anticipated, many foreign investors became disenchanted with
emerging markets. So bad were the outcomes in some cases that a few
notable infrastructure firms came close to bankruptcy; several
others hurriedly fled poor countries as projects soured.
In this book, Louis Wells and Rafiq Ahmed show why disputes
developed, point out how investments and disputes have changed over
time, explore why various firms responded differently to crises,
and question the basic wisdom of some of the enthusiasm for
privatization. The authors tell how firms, countries, and
multilateral development organizations can build a
conflict-management system that balances the legitimate economic
and social concerns of the host countries and those of investors.
Without these changes, multinational corporations will lose
profitable opportunities and poor countries will not gain the
contributions that foreign investment can make toward alleviating
poverty.
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