| Abstract: | Developing countries around the world are liberalizing their trade and investment regimes. This paper, based on a multiyear, multicountry study, assesses the likely impact of these new trade and investment policies on foreign investment projects. It points to the divergence between rhetoric and reality that often characterizes the new investment policies and institutions. Indeed, the study suggests that, for many foreign investors, changes in trade policy are likely to be more significant than changes in investment policy. The paper provides recommendations to investors on how to take advantage of the new policies they are likely to encounter in developing countries. © 1993 John Wiley & Sons, Inc. |
