Making Foreign Investment Safe: Property Rights And National Sovereignty

Hardcover | January 4, 2007

byLouis T. Wells, Rafiq Ahmed

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With real case stories, Wells and Ahmed bring to life both the hopes for and the failures of international guarantees of property rights for investors in the developing world. Their cases focus on infrastructure projects, but the lessons apply equally to many other investments. In the 1990'sinexperienced firms from rich countries jumped directly into huge projects in some of the world's least developed countries. Their investments reflected almost unbridled enthusiasm for emerging markets and trust in new international guarantees. Yet within a few years the business pages of the worldpress were reporting an exploding number of serious disputes between foreign investors and governments. As the expected bonanzas proved elusive and the protections weaker than anticipated, many foreign investors became disenchanted with emerging markets. So bad were the outcomes in some cases that afew notable infrastructure firms came close to bankruptcy; several others hurriedly fled poor countries as projects soured. In this book, Louis Wells and Rafiq Ahmed show why disputes developed, point out how investments and disputes have changed over time, explore why various firms responded differently to crises, and question the basic wisdom of some of the enthusiasm for privatization. The authors tell how firms,countries, and multilateral development organizations can build a conflict-management system that balances the legitimate economic and social concerns of the host countries and those of investors. Without these changes, multinational corporations will lose profitable opportunities and poor countrieswill not gain the contributions that foreign investment can make toward alleviating poverty.

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With real case stories, Wells and Ahmed bring to life both the hopes for and the failures of international guarantees of property rights for investors in the developing world. Their cases focus on infrastructure projects, but the lessons apply equally to many other investments. In the 1990'sinexperienced firms from rich countries jumpe...

Louis T. Wells is the Herbert F. Johnson Professor of International Management at the Harvard Business School. His research has focused on foreign investment and development; his principal consulting activities have been concerned with foreign investment policy and with negotiations between foreign investors and host governments. Ra...

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Paperback|Jan 11 2010

$33.26 online$35.50list price(save 6%)
see all books by Louis T. Wells
Format:HardcoverDimensions:392 pages, 6.3 × 9.21 × 1.1 inPublished:January 4, 2007Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195310624

ISBN - 13:9780195310627

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"These case studies will be informative to anyone considering investing in politically sensitive industries in developing countries."--Foreign Affairs