Neumayer, Eric; Nunnenkamp, Peter; Roy, Martin - 2014 - Manuscript date: March 10, 2014
We argue that the trend toward international investment agreements (IIAs) with stricter investment rules is driven by … competitive diffusion, namely defensive moves of developing countries concerned about foreign direct investment (FDI) diversion in … favor of competing host countries. Accounting for spatial dependence in the formation of bilateral investment treaties (BITs …