Multilateral Agreement On Investments (MAI) - A Critical Assessment From an Industrial Economics Point of View

Though the Multilateral Agreement on Investment (MAI) has failed, the original draft is likely to serve as a basis for future negotiations. This article gives a critical assessment of the draft from an industrial economics point of view. First, I summarize the contents of the agreement which is relevant for market structure and competition. Then I develop the industrial economics approach, which serves as a basis for criticism. I conclude that a multilateral agreement on investment should (i) recognize competition concerns, (ii) give a suitable de.nition of investment, and (iii) should help to establish competition authorities in less developed countries.multilateral agreement on investment, multinational enterprizes, competition policy, regional competition, foreign direct investment

Lobbying Activities of Multinational Firms

This paper investigates if multinationals in.uence the political process through lobbying more effectively than national firms. First, I introduce a model which contrasts a multinational’s incentives for lobbying with those of a national firm. Then the effect of lobbying on the political decision is analyzed. I conclude that multinationals have smaller incentives to lobby because they have smaller stakes in national markets. But the effectiveness of lobbying by multinationals might be higher if the government cares much about production in the home country. The resulting regulation depends on the relative strength of these effects.multinational enterprizes, regulation, policy formation, lobbying, interest groups, foreign direct investment.

Multilateral Agreement On Investments (MAI) - A Critical Assessment From an Industrial Economics Point of View

Though the Multilateral Agreement on Investment (MAI) has failed, the original draft is likely to serve as a basis for future negotiations. This article gives a critical assessment of the draft from an industrial economics point of view. First, I summarize the contents of the agreement which is relevant for market structure and competition. Then I develop the industrial economics approach, which serves as a basis for criticism. I conclude that a multilateral agreement on investment should (i) recognize competition concerns, (ii) give a suitable de.nition of investment, and (iii) should help to establish competition authorities in less developed countries

Lobbying and the Power of Multinational Firms

Are national or multinational firms better lobbyists? This paper analyzes the extent of national environmental regulation when policy is determined in a lobbying game between a government and firm. We compare the resulting regulation levels for national and multinational firms. We identify three countervailing forces, the easier-to-shut-down effect, the easier-to-curb-exports effect and the multiple-plant effect. The interplay of these three forces determines whether national or multinational firms produce more, depending on such parameters as the potential environmental damages, transportation costs and the in uence of the firm. We also show that welfare levels are higher with multinational firms than with national firms when there is no lobbying, but that lobbying can reverse the welfare ordering.Multinational enterprises, regulation, policy formation, lobbying, interest groups, foreign direct investment

How Special Interests Shape Policy - A Survey

This paper surveys recent approaches towards lobbying if interest groups influence the decision of an incumbent government. It describes the two main channels of influence which mainly exist in parallel, namely contribution payments and the transmission of information through lobbying. Recent extensions to the two basic lobbying models are discussed in great detail. Thereafter follows a short overview over current research, which tries to consolidate the two distinct branches of literature into a general lobbying model. The survey concludes with a summary of the main insights and indicates promising directions of further research.lobbying, interest groups, political decision making, contribution payments, information transmission

No Evidence for a Boost in Psychosocial Functioning in Older Age After a 6-Months Physical Exercise Intervention

The beneficial effects of physical exercise on physical health and cognitive functioning have been repeatedly shown. However, evidence of its effect on psychosocial functioning in healthy adults is still scarce or inconclusive. One limitation of many studies examining this link is their reliance on correlational approaches or specific subpopulations, such as clinical populations. The present study investigated the effects of a physical exercise intervention on key factors of psychosocial functioning, specifically well-being, stress, loneliness, and future time perspective. We used data from healthy, previously sedentary older adults (N = 132) who participated in a 6-month at-home intervention, either engaging in aerobic exercise or as part of a control group who participated in foreign language-learning or reading of selected native-language literature. Before and after the intervention, comprehensive cardiovascular pulmonary testing and a psychosocial questionnaire were administered. The exercise group showed significantly increased fitness compared to the control group. Contrary to expectations, however, we did not find evidence for a beneficial effect of this fitness improvement on any of the four domains of psychosocial functioning we assessed. This may be due to pronounced stability of such psychological traits in older age, especially in older adults who show high levels of well-being initially. Alternatively, it may be that the well-documented beneficial effects of physical exercise on brain structure and function, as well as cognition differ markedly from beneficial effects on psychosocial functioning. While aerobic exercise may be the driving factor for the former, positive effects on the latter may only be invoked by other aspects of exercise, for example, experiences of mastery or a feeling of community.Peer Reviewe