You are here

ÇYA ÇERÇEVESİNDE KALKINMAK MÜMKÜN MÜ? (IS IT POSSIBLE TO DEVELOP WITHIN THE MAI?)

IS IT POSSIBLE TO DEVELOP WITHIN THE MAI?
Abstract (2. Language): 
The Multilateral Agreement on Investments (MAI) in 1998 can be accepted as a reflection of a paradigm shift on development, the so-called “Washington Consensus”, since they have common assumptions that all Multinational Corporations’ (MNCs) activity, namely, Foreign Direct Investment (FDI) offers similar spillovers and developmental benefits. This paper aims to evaluate whether it is possible to develop within the MAI or another MAI type agreement on investment by analyzing some important articles of the MAI in terms of developmental perspective. In this respect, both in the literature and in the experience of the developing countries it is pointed out that it is not enough to liberalise the FDI or financial regime for development; governments still play a central role in development. Since the MAI ignores and undermines all these issues a MAI type agreement also will have no meaning at all for development.
Abstract (Original Language): 
1998 yılındaki Çok Taraflı Yatırım Anlaşması (ÇYA) kalkınma konusunda “Washington Konsensüsü” diye tabir edilen bir bakış açısı değişikliğinin yansıması olarak kabul edilebilir, zira, ikisinin de tüm Çokuluslu Şirketlerin (ÇUŞ) faaliyetlerinin, yani, Doğrudan Yabancı Yatırım (DYY)’ larının benzer yayılma ve kalkınma yararları olduğu yönünde ortak varsayımları bulunmaktadır. Bu çalışma, ÇYA’nın bazı önemli maddelerini kalkınma perspektifi açısından analiz ederek, ÇYA veya ÇYA türünde başka bir yatırım anlaşması çerçevesinde kalkınmanın mümkün olup olmadığını değerlendirmek amacındadır. Bu bağlamda, hem literatürde hem de gelişmekte olan ekonomilerin deneyimlerinde, DYY’ların ya da finansal rejimlerin liberalize edilmesinin kalkınma için yeterli olmadığına ve hala daha hükümetlerin kalkınmada merkezi bir rol oynadığına işaret edilmektedir. ÇYA tüm bu konuları görmezlikten geldiğinden ve altını kazıdığından dolayı ÇYA türü bir anlaşma da kalkınma için çok fazla bir anlam ifade etmeyecektir.
1-28

REFERENCES

References: 

Abel, Andrew B. and B. S. Bernanke (1995) Macroeconomics. USA: Addison-Wesley.
Agosin, Manuel R. and R. Mayer (2000) Foreign Investment in Developing Countries: Does It Crowd in
Domestic Investment. UNCTAD Discussion Paper, No: 146.
Aronson, Jay. (2006). History and Politics of Development.
(2006, December 15)
Balasubramanyam, V. N., M. Salisu and D. Sapsford (1996) Foreign Direct Investment and Growth in EP and IS
Countries. The Economic Journal, 106: 92-105.
Barro, Robert J. (1991), Economic Growth in a Cross-Section of Countries. Quarterly Journal of Economics,
No. 5: 181–189.
Bhagwati, Jagdish N. (1978), Anatomy and Consequences of Exchange Rate Regimes. Studies in International
Economic Relations, 10, New York: NBER.
Borensztein, Eduardo, J. De Gregorio, and J.-W. Lee (1998) How Does Foreign Direct Investment Affect
Economic Growth?. Journal of International Economics, 45: 115–35.
Clarke, Tony and M. Barlow (1997), MAI: The Threat to Canadian Sovereignty. Toronto: Stoddard.
Dunning, John (1994) Re-evaluating the Benefits of Foreign Direct Investment. Transnational Corporations,
3:23-52.
Dunning, John (1997) “A Business Analytic Approach to Governments and Globalization”. In Governments,
Globalization and International Business, edited by J.H. Dunning, pp.114–131. Oxford: Oxford University
Press.
Eun, Cheol S. and B. G. Resnick, (2001), International Financial Management. Singapore: McGraw-Hill.
Edwards, Sebastian (1998) Openness, Productivity and Growth: What Do We Really Know?. The Economic
Journal, 108: 383-398.
Findlay, Ronald (1978), Relative Backwardness, Direct Foreign Investment and the Transfer of Technology, A
Simple Dynamic Model. Quarterly Journal of Economics, 92: 1–16.
Fogal, Connie. (1997). The Multilateral Agreement On Investment- A History.
(2006, December 15)
Freeman, Chris and J. Hagedoorn (1989) New Technology and Catching Up. European Journal of Development
Research, 1: 53-67.
Gore, Charles (2000) The Rise and Fall of the Washington Consensus as a Paradigm for Less Developed
Countries. World Development, 28: 789-804.
Greenaway, David et al (2002) Trade Liberalization and Growth in Developing Countries. Journal of
Development Economics, 67: 229-244.
Hermes, Niels and R. Lensink (2003) Foreign Direct Investment, Financial Development and Economic Growth.
The Journal of Development Studies, 40: 142-163.
Kahler, Miles (1998) “Introduction: Capital Flows and Financial crises in the 1990s”. In Capital Flows and
Financial Crises, edited by M.Kahler, pp.1-22. Manchester: Manchester University Press.
Karliner, Joshua. (1997). The Corporate Planet: Ecology and Politics in the Age of Globalization. Sierra Club
Books. (2006, December 15)
Lall, Sanjaya (2000) FDI and Development: Research Issues In the Emerging Context. University of Adelaide,
Centre for International Economic Studies. Policy Discussion Papers No.0020.
Lall, Sanjaya and R. Narula (2004) Foreign Direct Investment and Its Role in Economic Development: Do we
Need a New Agenda?. The European Journal of Development Research, 16: 447-464.
Levine, Ross and D. Renelt (1992) A Sensitivity of Cross Country Growth Regressions. American Economic
Review, No: 82: 946–963.
Milberg, William (1999) Foreign Direct Investment and Development: Balancing Costs and Benefits.
International Monetary and the Financial Issues for the 1990s, XI: 99-116.
Mortimore, Michael and S.Vergara (2004) Targeting Winners: Can Foreign Direct Investment Policy Help
Developing Countries Industrialize?. The European Journal of Development Research, 16: 499–530.
Mosley, Paul (2004) Institutions and Politics in a Lewis-Type Growth Model, The Manchester School, 72: 751-
773.
Mosley, Paul (2000) Globalization, Economic Policy and Convergence. The World Economy, 23: 613-634.
Narula, Rajneesh (2003) Globalization and Technology. Cambridge: Polity Press.
Narula, Rajneesh and J. Dunning (2000) Industrial Development, Globalization and Multinational Enterprises:
New Realities for Developing Countries. Oxford Development Studies, 28: 141-167.
Narula, Rajneesh and A. Marin (2003) FDI Spillovers, Absorptive Capacities and Human Capital Development:
Evidence from Argentina. MERIT Research Memorandum 2003–16.
OECD. (1998). The Multilateral Agreement on Investment: Frequently Asked Questions and Answers.
or (2006, December 15)
Onis, Ziya (2006) Varieties and Crises of Neoliberal Globalization: Argentina, Turkey and the IMF. Third World
Quarterly, 27: 239-263.
Onis, Ziya and A.F. Aysan (2000) Neoliberal Globalization, the Nation-state and Financial Crises in the Semiperiphery:
A Comparative Analysis. Third World Quarterly, 21: 119-139.
Oxfam Community Aid Abroad. (1998). The Multilateral Agreement on Investment.
(2006, December 15)
Ozawa, Terutomo (1992) “Cross-Investments between Japan and the EC: Income Similarity, Technological
Congruity and Economies of Scope”. In Multinational Investment in Modern Europe: Strategic Interaction in the
Integrated Community, edited by J. Cantwell, pp. 13-45. Aldershot: Edward Elgar.
Perez, Carlota and L. Soete (1988) “Catching-up in Technology: Entry Barriers and Windows of Opportunities”.
In Technical Change and Economic Theory, edited by G. Dosi, C. Freeman, R. Nelson, G. Silverberg and L
Soete, pp. 458-479. New York: Columbia University Press.
Perraton, Jonathan (2001) The Global Economy-Myths and Realities. Cambridge Journal of Economics, 25:
669-684.
Perraton, Jonathan et al. (1997) The Globalization of Economic Activity, New Political Economy, 2: 257-277.
Roberts, Shane S. (1998). Foreign Direct Investment and the Multi-lateral Agreement on Investment - The
Hidden Agenda. < http://www.tcd.ie/Economics/SER/archive/1998/ESSAY15.HTM> (2006, December 15)
Rodrik, Dani (1997) Has Globalization Gone To Far?. USA: Institute for International Economics.
Sachs, Jeffrey D. (1997) Fundamental Sources of Long Run Growth. American Economic Review No: 87: 184–
188.
Sahtouris, Elisabet. (1997). Brazil and Globalization. (2006,
December 15)
Sforza-Roderick, Michelle, S. Nova, and M. Weisbrot. (1997). Writing the Constitution of a Single Global
Economy: A Concise Guide to the Multilateral Agreement on Investment – Supporters’ and Opponents’ Views.
(2006, December 15)
Singh, Ajit (2005) FDI, Globalization and Economic Development: Towards Reforming National and
International Rules of the Game. University of Cambridge Working Paper Series No.304.
Smarzynska, Beata K. (2002) The Composition of Foreign Direct Investment and Protection of Intellectual
Property Rights in Transition Economies. World Bank Policy Research Working Paper No: 2786.
Soros, George (1997) The Capitalist Threat. The Atlantic Monthly, 279: 45-58.
South Centre (2000) Foreign Direct Investment, Development and the New Global Economic Order: A Policy
Brief for the South. Geneva: South Centre.
Stopford, John (1997) “Implications for National Governments”. In Governments, Globalization and
International Business, edited by J.H. Dunning, pp.457–480. Oxford: Oxford University Press.
Stiglitz, Joseph E. (1998) More Instruments and Broader Goals Moving towards the Post-Washington
Consensus. United Nations University, Helsinki: Wider Annual Lectures 2.
Turkish Republic Prime Ministry Undersecretariat of Treasury (TRPMUT). (1999). Multilateral Agreement On
Investments. (2006, December 15)
UNCTAD (2004). World Investment Report 2004.
Xu, Bin (2000) Multinational Enterprises, Technology Diffusion, and Host Country Productivity
Growth. Journal of Development Economics, 62: 477–93.
Wallach, Lori. (1998a). Global Economy In Turmoil: A Dangerous New Manifesto For Global Capitalism.
(2006, December 15)
Wallach, Lori. (1998b). Global MAI Alert: Testimony of Lori Wallach.
(2006, December 15)
Wallach, Lori and J. Doctor. (1998). The NGO Pocket Trade Lawyer For the Multilateral Agreement on
Investment < http://ecolu-info.unige.ch/archives/envcee98/0384.html> (2006, December 15)
Williamson, John (1990) “What Washington Means by Policy Reform”. In Latin American Adjustment: How
Much Has Happened?, edited by J Williamson, pp. 7-20. Washington: Institute for International Economics.
Williamson, John. (1999). What Should the Bank Think about the Washington Consensus?.
(2006, December 15)

Thank you for copying data from http://www.arastirmax.com