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"Caselets" present several examples of decisions involving bribery or take other actions that could be considered as corrupt.

Describes the emergence of several kinds of efforts to assure the safety of foreign investment in emerging markets: international arbitration, expanded official political risk insurance, credit from government agencies, and intervention by investors' home governments. Points out the roles of bilateral investment treaties and regional economic agreements in making arbitration accessible to an increasing number of foreign investors. Views the various arrangements as substitutes for a global agreement on foreign direct investment that would parallel the WTO for trade given that attempts to negotiate a comprehensive arrangement have so far failed. Also, presents several criticisms of the current system.

The French-owned Aguas Argentinas faces a demand from the Argentine government that it renegotiate its concession to operate the Buenos Aires water and sewage services. The company must decide whether to continue with efforts to settle on a new contract or to exercise its rights to go to international arbitration. Either way, it must decide on its strategy going forward.

Explains the emergence of international arbitration as an option for foreign investors with disputes with governments of emerging markets. Presents issues about whether arbitration will remain acceptable to countries and governments.

Describes the construction of the balance of payments and defines frequently used measures taken from the balance of payments.

Japan experienced rapid growth in the 1950s and 1960s while following a set of policies that differ from current policies in fashion. Although some observers believe that Japanese growth occurred in spite of the policies rather than because of them, several countries have looked to Japan's approach during this period as a way to accelerate their own growth. This case provides data on performance and describes the important institutions, policies, and control tools that were used in Japan. A rewritten version of two earlier cases.

"Caselets" present several examples of decisions involving bribery or take other actions that could be considered as corrupt.

Supplements Tax Cut of 1964.

Presents a character sketch of Herbert Hoover, along with Hoover's views on the cause of the Great Depression of the 1930s. Illustrates the political economy of the period and presents different interpretations of the course of the Great Depression. A rewritten version of an earlier case.

Presents a character sketch of Herbert Hoover, along with Hoover's views on the cause of the Great Depression of the 1930s. Illustrates the political economy of the period and presents different interpretations of the course of the Great Depression. A rewritten version of an earlier case.

Describes the exchange rate system adopted at Bretton Woods in 1994.

Presents seven examples (i.e., incidents) of conflict concerning foreign direct investment. The incidents lay the framework for discussion of issues such as the jurisdiction of the WTO and the U.S. position, the Helms-Burton Act of 1996 and its political implications, and campaign contributions from foreign corporations backing U.S. Democrats--and the controversy therein.

A large, lucrative power plant is negotiated for construction/operation by an American power company in India's evolving privatized power sector. The process of incorporating the project is captured in this case. The American company will own and operate the plant in India, which will sell power to India.

A new administration takes power in a state in India and cancels a power project agreed upon by the previous state government and a U.S.-based energy company. The project cancellation is based on allegations of irregularities, exorbitant costs, and political pressures.

Describes the construction of the balance of payments and defines frequently used measures taken from the balance of payments.

A brief history of foreign direct investment (FDI) is explored, emphasizing conflicts, developments in the legal framework governing FDI, and international agreements and nonbinding principles formulated to resolve disputes brought in by FDI. Propositions provide a context from which core issues may be discussed by the students.

Discusses a series of incidents of conflict between the United States and foreign governments on trade.

Describes the IMF, the World Bank Group, the regional development banks, the Bank of International Settlements, the OECD, and the Group of 7.

Private investment in infrastructure is again the rage among foreign investors and governments in the developing countries of Asia, Latin America, and Africa. Managers should not get carried away, however: A look at a few recent experiences shows that the pitfalls of the past are still present today. The authors review ill-fated foreign investment projects and conclude that foreign investment in infrastructure is dangerous because the hosting nations view it as an obsolescing bargain. In the face of this discouraging evaluation, the authors have some suggestions for minimizing risks. These range from the general, such as taking care to choose the right businesses to invest in, to more specific advice on setting rates and buying insurance. Nevertheless, investors should not expect security in infrastructure investment. Indeed, the paradox of infrastructure projects may be that higher returns cause higher risk, rather than the converse.

Poor communication can cause the breakdown of negotiations with foreign governments, and the multinational manager who deals with developing countries often needs guidelines. Negotiators must understand local economic and political problems. Negotiators should avoid self-praise, ensure equal safeguards for the foreign government and consider a variety of investment arrangement structures. Negotiators may not adequately represent their government or company and negotiating styles may vary due to cultural differences.