eBook - PDF

Bounded Rationality and Economic Diplomacy

Name: Bounded Rationality and Economic Diplomacy
ISBN: 9781316435403

The Politics of Investment Treaties in Developing Countries

Lauge N. Skovgaard Poulsen,

English
PDF
Available on iOS & Android

eBook - PDF

Bounded Rationality and Economic Diplomacy

The Politics of Investment Treaties in Developing Countries

Lauge N. Skovgaard Poulsen,

About this book

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.

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Yes, you can access Bounded Rationality and Economic Diplomacy by Lauge N. Skovgaard Poulsen in PDF and/or ePUB format, as well as other popular books in Politics & International Relations & International Relations. We have over one million books available in our catalogue for you to explore.