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Can the G20 Serve as a Launchpad for a Multilateral Investment Agreement?

18th November 2021
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Authors: Axel Berger, Wan-Hsin Liu (The World Economy, 2021, Vol. 44(8), 2284-2302)

The international system for the governance of foreign investments is highly fragmented consisting mainly of bilateral agreements. With the adoption of nine guiding principles for global investment policy-making in 2016, some observers argue that the G20 can actually serve as a launchpad for negotiations of a multilateral investment agreement. This paper provides empirical evidence on the question of whether the contents of international investment agreements (IIAs) have gradually converged to facilitate the multilateralisation of investment rules. We find that IIAs negotiated among non-G20 countries are more similar to each other than those concluded by G20 countries in general and even more so since 2000 in particular. This result calls into question the premise that the G20 can serve as the most suitable forum to initiate multilateral negotiations on multilateral investment rules. Instead, an extended analysis using different country grouping criteria suggests that the Member States of the European Union may be a more suitable alternative in this regard. Here, the EU can jointly take a leading role in facilitating related negotiations on multilateral investment rules.

Keywords: EU, G20, investment agreements, OECD, similarity

DOI: https://doi.org/10.1111/‌twec.13114


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  • Dr. Wan-Hsin Liu

Projects

Project 1
Cross-cultural differences in the perception of corporate social responsibility and consumer social responsibility along global supply chains
Project 1
Experimental studies of moral responsibility in global supply chains
Project 1
Modelling economic and social dimensions of global supply chains
Project 1
Global supply chains, environmental regulation and green innovation

Other Projects

Cross-cultural differences in the perception of corporate social responsibility and consumer social responsibility along global supply chains Experimental studies of moral responsibility in global supply chains
Modelling economic and social dimensions of global supply chains Global supply chains, environmental regulation and green innovation Further KCG Projects

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