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The multinational enterprise has been one of the foremost ecomic, political, and social influences in the world ecomy for many decades. As its role and influence have grown, so has the regime of institutions and rules concerning international investment-from the proposal to create the ITO in the 1940s to the establishment of the WTO in the 1990s. Investment issues are w important items on the agenda of international ecomic policy-making, international business-government relations, and public debate. The book provides a detailed analysis of the evolution of the international investment framework in the second half of the twentieth century-the issues, the organizations, and current policy challenges. For instance, the book includes chapters on issues concerning the relationship of investment policy to trade and techlogy, competition, and ecomic development. In addition to a clear and well-informed description of the role of several organizations, including ITO, GATT, the OECD, and the WTO, the authors-one American and one British-present numerous examples, cases, and appendices to give context and 'real' world examples to the book. They also discuss many key regional arrangements, such as NAFTA and the EU, as well as bilateral investment agreements. This up-to-date and accessible book will be vital reading for academics, students, executives, and policy-makers concerned to get to grips with the evolving international investment system.
Thomas L. Brewer is Associate Professor, School of Business, Georgetown University. Stephen Young is Professor, Strathclyde Business School, University of Strathclyde.