Table of contents
International direct investment has in the past been perceived either as a matter of rich countries reinvesting their “surplus cash”, or in terms of bouts of cross-border corporate takeovers between the most highly developed economies. However, the nature of international investment is rapidly changing, and countries commonly classified as “developing” have emerged as important outward direct investors. Many developing countries also partake in the process of globalisation – not simply as low-cost production sites but as full-fledged partners in international enterprises’ global value chains and trading networks. This contributes a new global architecture in which policy challenges tend to converge across geographic boundaries and levels of economic development.
The special focus of the present issue of International Investment Perspectives is policies bearing on the investment climate. The articles in this section are based on the ongoing work to establish a Policy Framework for Investment, including a Checklist of recommendations for policy makers aiming to create a good environment for attracting investment and maximising its economic benefits. The work is done by a Task Force including representatives of OECD and all interested non-member countries. The present issue includes articles covering foreign trade, competition and fiscal policy.
The remainder of the publication addresses challenges arising from the Monterrey Consensus’ emphasis of international investment, especially foreign direct investment, as a key source of financing development. One article looks into the experiences with private participation in infrastructure, including development agencies’ efforts to promote it. Another addresses in detail Vietnam’s experience with more than a decade of using development assistance as a tool for enhancing its investment climate.
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