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The Effect of Treaties on Foreign Direct InvestmentBilateral Investment Treaties, Double Taxation Treaties, and Investment Flows$
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Karl P. Sauvant and Lisa E. Sachs

Print publication date: 2009

Print ISBN-13: 9780195388534

Published to Oxford Scholarship Online: May 2009

DOI: 10.1093/acprof:oso/9780195388534.001.0001

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Do Investment Agreements Attract Investment? Evidence from Latin America *

Do Investment Agreements Attract Investment? Evidence from Latin America *

The Effect of Treaties on Foreign Direct Investment

Kevin P. Gallagher

Melissa B.L. Birch

Oxford University Press

This chapter attempts to identify the determinants of foreign direct investment (FDI) into Latin American Countries (LAC) and the Caribbean (LAC) during the period from 1980 to 2003. Although a number of countries are aggressively pursuing investment agreements with the United States in order to increase investment, there is no evidence that signing such an agreement with the United States will bring increased investment. This is largely consistent with previous work on the relationship between BITs and investment. The analysis is also consistent with broader literature on FDI determinants in Latin America and the Caribbean, which shows that the size of the domestic economy and the ability to serve as an export platform are key drivers of FDI inflows.

Keywords:   foreign direct investment, FDI inflows, LAC, Caribbean, investment treaties

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