Miga and Foreign Investment: Origins, Operations, Policies and Basic Documents of the Multilateral Investment Guarantee AgencyIbrahim F. I. Shihata Martinus Nijhoff Publishers, 1988 - 540 pages The unique experience of the author in supervising the World Bank's efforts to create the Multilateral Investment Guarantee Agency is detailed in "Part I" of this book, which provides a case study for the successful preparation of a complex multilateral convention in record time. The book also provides an in-depth analysis of the operational and institutional aspects of MIGA relating them to the broader legal and economic issues concerning international investment flows. "Part II" deals with both MIGA's guarantee and non-guarantee operations. It covers in detail the different aspects of political risk insurance as well as the advisory and promotional services needed to encourage greater flows of capital and technology across national boundaries and towards developing countries in particular. "Part III" deals with three major institutional and policy issues which caused the greatest controversies in MIGA's preparatory work and raised questions that go beyond MIGA's concerns. These include the standards that apply to foreign investment, settlement of disputes and the organizational and voting structures of international financial institutions. This book should be of direct interest to a broad array of researchers and practitioners in the fields of international development, foreign investment, international law, political risk insurance and international financial organizations. The topicality of its subject and the prominence of its author add to the importance of the book which is likely to remain the most authoritative in its field for many years to come. |
Contents
ENCOURAGING THE FLOW OF FOREIGN | 1 |
The Investment Climate | 7 |
Relevance of a Global Agency for Investment Insurance and Promotion | 17 |
EARLY HISTORY THE WORLD BANKS | 31 |
The Clausen Initiative and the MIIA Outline | 45 |
Conclusion | 54 |
THE MAKING OF MIGA A PERSONAL | 61 |
7 | 75 |
H Interaction in the Underwriting Process | 173 |
Subrogation and Recoupment | 179 |
MIGAS NONGUARANTEE OPERATIONS | 191 |
MIGA AND THE STANDARDS APPLICABLE | 217 |
MIGA AND THE SETTLEMENT OF DISPUTES | 257 |
Disputes Resulting from Subrogation | 260 |
Disputes Between a Holder of the Agencys Guarantee and a Host Government | 281 |
MIGAS ORGANIZATION AND VOTING STRUC | 293 |
Improving the Chances of Reaching Agreement | 80 |
Reaching Consensus | 92 |
12 | 95 |
17 | 101 |
ELIGIBILITY REQUIREMENTS OF MIGAs | 109 |
Eligible Investors and Host Countries | 118 |
ADMINISTRATION | 147 |
Amount of Guarantee | 153 |
F Premiums and Fees | 167 |
The Voting Structure in MIGAs Board and Council | 304 |
Main Features of a Proposed Multilateral Investment Guarantee Scheme | 331 |
Convention Establishing the Multilateral Investment Guarantee Agency | 353 |
Appendix 3 Commentary on the Convention | 391 |
Draft Rules and Regulations | 417 |
Draft Application Forms | 497 |
Selected Bibliography on the Guarantee of Investment Against NonCom | 511 |
525 | |
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MIGA and Foreign Investment: Origins, Operations, Policies, and Basic ... Ibrahim F. I. Shihata No preview available - 1988 |
Common terms and phrases
amount of guarantee Annex applicable approval Arab arbitration Articles of Agreement assessment assets Bank's basis bilateral investment treaties Board of Directors capital Chairman Chapter claims coinsurance Committee compensation contract of guarantee Council of Governors coverage covered customary international law decision developing countries developing member countries discussions draft Convention economic Executive Directors expropriation foreign direct investment foreign investment Fund guarantee holder guarantee operations guaranteed investment host country host government IBRD ICSID initial institutions International Finance Corporation international law Investment Guarantee Agency Investment Insurance Investment Project investor issue limited loss meeting ment MIGA Convention MIGA's guarantee Multilateral Investment Guarantee national investment guarantee non-commercial risks OECD Paragraph parties payment period policies political risk insurance premiums President programs proposed Regulations reinsurance relevant shares special majority specific sponsored investments sponsorship subrogation subscriptions supplementary votes supra note tion treaties U.S. dollar Underwriting Authority voting power World Bank