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Signalling Demand for Foreign Investment: Postsocialist Countries in the Global Bilateral Investment Treaties Network

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  • Nina Bandelj
  • Matthew C. Mahutga
  • Kristen Shorette

Abstract

A unique dataset on bilateral investment treaties provides a novel source of evidence on the link between neoliberal globalisation and market transition. We argue that postsocialist countries of Europe and Eurasia, more than other developing regions in the world, signed such treaties to signal demand for foreign investment in the spirit of neoliberalism. We calculated the density of the whole BIT network since its inception in 1959 to 2009, and density and centrality of different regional blocks within it, and found strong support for our argument. Yet, even if bilateral investment treaties are designed to promote foreign direct investment, dynamic panel regression models show that signing them does not automatically translate into foreign direct investment inflows for postsocialist European and Eurasian countries in the 1990–2010 period.

Suggested Citation

  • Nina Bandelj & Matthew C. Mahutga & Kristen Shorette, 2015. "Signalling Demand for Foreign Investment: Postsocialist Countries in the Global Bilateral Investment Treaties Network," Europe-Asia Studies, Taylor & Francis Journals, vol. 67(6), pages 870-892, July.
    • Handle: RePEc:taf:ceasxx:v:67:y:2015:i:6:p:870-892
    DOI: 10.1080/09668136.2015.1053736
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    References listed on IDEAS

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    1. World Bank, 2015. "World Development Indicators 2015," World Bank Publications - Books, The World Bank Group, number 21634.
    2. World Bank, 2014. "World Development Indicators 2014," World Bank Publications - Books, The World Bank Group, number 18237.
    3. Barry Naughton, 2007. "The Chinese Economy: Transitions and Growth," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262640643, April.
    4. Klaus E. Meyer, 1998. "Direct Investment in Economies in Transition," Books, Edward Elgar Publishing, number 1413.
    5. Prasad, Monica, 2006. "The Politics of Free Markets," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226679013, April.
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