BOUNDED RATIONALITY AND ECONOMIC DIPLOMACY by Lauge N. Skovgaard Poulsen ( 9781107552012 )

Item Details

Title:

BOUNDED RATIONALITY AND ECONOMIC DIPLOMACY
THE POLITICS OF INVESTMENT TREATIES IN DEVELOPING COUNTRIES

By:

Lauge N. Skovgaard Poulsen

Format:

Paperback

List price:

£30.99

Our price:

£27.89

Discount:

10% off

You save:

£3.10

ISBN 10:

110755201X

ISBN 13:

9781107552012

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Publisher:

CAMBRIDGE UNIVERSITY PRESS

Pub. date:

12 January, 2017

Pages:

263

Description:

This book examines how developing countries often sign up to highly potent rules underwriting economic globalisation without even realising it.

Synopsis:

Modern investment treaties give private arbitrators power to determine whether governments should pay compensation to foreign investors for a wide range of sovereign acts. In recent years, particularly developing countries have incurred significant liabilities from investment treaty arbitration, which begs the question why they signed the treaties in the first place. Through a comprehensive and timely analysis, this book shows that governments in developing countries typically overestimated the economic benefits of investment treaties and practically ignored their risks. Rooted in insights on bounded rationality from behavioural psychology and economics, the analysis highlights how policy-makers often relied on inferential shortcuts when assessing the implications of the treaties, which resulted in systematic deviations from fully rational behaviour. This not only sheds new light on one of the most controversial legal regimes underwriting economic globalization but also provides a novel theoretical account of the often irrational, yet predictable, nature of economic diplomacy.

Illustrations:

15 b/w illus. 15 tables

Publication:

Imprint:

Cambridge University Press

Returns:

Returnable

Some other items by this author:

BOUNDED RATIONALITY AND ECONOMIC DIPLOMACY (HB)

THE POLITICAL ECONOMY OF THE INVESTMENT TREATY REGIME (HB)

THE POLITICAL ECONOMY OF THE INVESTMENT TREATY REGIME (PB)