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Many warn that the next stage of globalization--the offshoring of research and development to China and India …--prosperity at home, and why trying to maintain the U.S. lead by subsidizing more research or training more scientists will do more … harm than good. When breakthrough ideas have no borders, a nation's capacity to exploit cutting-edge research regardless of …
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This paper models a multilateral agreement on investment (MAI) as a coordination device. Multinational enterprises can invest in any number of countries. Without a multilateral investment agreement, expropriation triggers an investment stop by the single MNE. Under a multilateral agreement,...
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