The demand of industrialized countries for a multilateral agreement on investment to be negotiated under the roof of the WTO is meeting with considerable resistance on the part of developing countries. The proponents of such a multilateral agreement argue that binding disciplines of...

Since recent financial crises in Asia and Latin America, developing countries have been strongly advised to rely primarily on foreign direct investment (FDI) in order to promote economic development on a sustainable basis. Even harsh critics of rash capital account liberalization argue in favor...