Lex Mercatoria

www.lexmercatoria.org

www.jus.uio.no/lm

  toc   scroll    txt   pdf   pdf    odt    A-Z  Document Manifest   home 
<< previous TOC next >>
< ^ >

The "Transnational" Political Economy:

A Framework for Analysis.[*]

Jarrod Wiener, University of Kent at Canterbury[**]

Introduction

Private International Trade Law:

The Positivist Perspective.

The Autonomist Perspective.

The Sources of the Lex Mercatoria: "Lex", or "Principa".

Applicability and Coercive Force.

"Delocalised International Commercial Arbitration":

Preliminary Observations:

Public International Trade Law.

Normative, Structural Imperatives of the Transnational Political Economy.

Conclusion: The Agenda for Research:

Ideology:

Investment:

Institutions:

Sovereignty, Authority, and Governance:

Endnotes

Endnotes

Endnotes

Metadata

SiSU Metadata, document information

Manifest

SiSU Manifest, alternative outputs etc.

The "Transnational" Political Economy: - A Framework for Analysis.

Jarrod Wiener

copy @ Lex Mercatoria

The "Transnational" Political Economy:

A Framework for Analysis.[*]

Jarrod Wiener, University of Kent at Canterbury[**]

Investment:

Following on from this change in ideology, there has been, since the mid-1970s, the death of expropriation as a state instrument in dealing with foreign investors, and, particularly since the mid-1980s, a world-wide trend towards privatisation. With this has been competition to attract foreign investment.

In the 1970s, there were 423 cases of expropriation of foreign owned assets by governments, an activity which peaked at 85 in 1975.  90  However, with this change in ideology has been a realisation of the benefits of FDI to a host state, including an effective method of to transfer technology, training, management, and international marketing skills; increased levels of employment; and higher wages relative to those offered by national industries.  91  Multinational corporations (MNCs) have been increasingly enticed by both developed and developing countries in the competition to attract FDI in the new economic world order of globalised capitalism. The practise of expropriation has vanished along with this demise of the radical critiques of the world economy. In fact, there were only 14 expropriations between 1980 and 1987, and none at all between 1987 and 1992.  92  In fact, as Michael Minor noted, "not only has expropriation activity largely ended, but in some countries, it is being reversed, in very literal terms by reversion to the former owners".  93  And, perhaps nowhere is the new ideological consensus on the need for FDI more conspicuous than in the liberalisation of the states of the former Soviet Union, particularly in Russia, Ukraine, Poland, Hungary, and the Czech Republic, and, of course, in the attempts of the former "radicals" of the international economy, such as Vietnam, North Korea, Cuba, and Iran, to attract FDI.

The methodology of the Transnational Political Economy would highlight the domestic policy changes as a result of the structure of foreign investment. One aspect of this uniform behaviour has been the subscription by 133 states to the Multilateral Investment Guarantee Agency (MIGA) of the World Bank and the network of 600 Bilateral Investment Treaties which nearly all provide for international arbitration under the World Bank's International Centre for the Settlement of Investment Disputes (ICSID). This can be seen as a part of the process of the increasingly global recognition of "general principles of law of commercial states".


 90. See a compilation of documents by Gardner Patterson, Robert Baldwin, the US Department of Commerce, and the US Department of State, in United States International Economic Policy in an Interdependent World: Papers Submitted to the Commission on International Trade and Investment and Published in Conjunction with the Commission's Report to the President, Compendium of Papers, Volume 1, US Government Printing Office, Washington, 1971; and GATT, The Tokyo Round of Multilateral Trade Negotiations, Report by the Director- General of GATT, Geneva, April 1979.

 91. New York Times, 23 November, 1982, D1 and D15.

 92. "Getting Services on the Agenda By Working the Washington Crowd", National Journal, 30 August 1986, pp.2060-2061.

 93. Berman and Kaufman, op. cit., p.222.


  toc   scroll    txt   pdf   pdf    odt    A-Z  Document Manifest   home 
<< previous TOC next >>
< ^ >

Lex Mercatoria -->

( International Trade/Commercial Law & e-Commerce Monitor )

W3 since October 3 1993
1993 - 2010

started @The University of Tromsø, Norway, 1993
hosted by The University of Oslo, Norway, since 1998
in fellowship with The Institute of International Commercial Law,
Pace University, White Plains, New York, U.S.A.

Disclaimer!

© 

Ralph Amissah




Lex Mercatoria