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The World Trade Organization: Global Rule-maker?

In: The Globalization of Multinational Enterprise Activity and Economic Development

Author

Listed:
  • Thomas L. Brewer

    (Georgetown University)

  • Stephen Young

    (University of Strathclyde)

Abstract

Globalization at the corporate level has been strongly influenced and facilitated by, inter alia, a worldwide trend, especially during the 1990s, towards the liberalization of governments’ FDI policies; the latter have been linked to wider programmes of deregulation, privatization and market reform. There is still a long way to go in investment liberalization, particularly in some major developing nations and transition economies, and the process is far from irreversible. Since MNEs’ investment may generate economic benefits for nation-states and the world economy, as international trade has, locking-in the liberalization that has been achieved, providing a coherent global policy framework for FDI2 and extending policy into new areas are critical if the momentum of corporate globalization is to be sustained. This requires a system of investment rules to complement the multilateral trade regime negotiated and implemented through the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO).

Suggested Citation

  • Thomas L. Brewer & Stephen Young, 2000. "The World Trade Organization: Global Rule-maker?," Palgrave Macmillan Books, in: Neil Hood & Stephen Young (ed.), The Globalization of Multinational Enterprise Activity and Economic Development, chapter 11, pages 251-277, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59916-1_11
    DOI: 10.1057/9780230599161_11
    as

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    Cited by:

    1. Ricart, Joan E. & Enright, Michael J. & Ghemawat, Pankaj & Khanna, Tarun & Hart, Stuart L., 2003. "New frontiers in international strategy," IESE Research Papers D/532, IESE Business School.

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