O papel da OCDE na governança dos investimentos internacionais e a entrada do Brasil na organização

The governance of foreign investments lies in an institutional gap at the international level. In addition to the fact that there is no mandatory multilateral regulatory framework on the subject, the World Trade Organization (WTO) is passing through a crisis that rules out any negotiation in this regard. In this sense, the Organization for Economic Cooperation and Development (OECD) has proved to be a favorable forum for dealing with the liberalization of the subject. The hypothesis is that this occurs due to the organization's ratio, based on soft law and the elaboration of subsidies that may support structural changes in the analyzed countries, such as is the case of the Regulatory Restrictiveness Index of Foreign Direct Investments (FDI Index). The main purpose of the article is to contextualize the state of the art of international governance of foreign investments, describe how the OECD has dealt with the subject, approaching the soft law rules on investments and the index that relate investments in the organization, with a focus on the FDI Index, and how Brazil, currently in the process of joining the OECD, addresses the issue. The methodology is based on the analysis of primary sources, which are international instruments and data from the OECD and other international bodies, and secondary sources, based on national and international doctrine. The article concludes that it's not only enough joining the OECD and its instruments, but also the country to be less restrictive in the liberalization of investments. Therefore, the operation of the FDI Index and its application to Brazil seem essential for analyzing the degree of Brazilian openness to foreign capital and, if applicable, promoting changes in its regulatory framework.