The Colonial Reckoning

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This book presents original research on the rise of international investment agreements aimed at attracting foreign direct investment (FDI) and their implications for capital-importing countries' development goals. Countries enter these treaties with the expectation that foreign capital will enhance technology transfer, create jobs, and benefit local economies through various linkages. However, it questions whether these agreements effectively attract FDI and if the associated sovereignty costs are justified. Specifically, it explores whether these costs might undermine the very goal of fostering human development in host countries. Through economic and legal analysis, the book addresses critical questions surrounding the impact of economic globalization on human rights and development. It highlights the risks for developing nations that may feel pressured to offer extensive protections to investors, potentially compromising the benefits they should derive from FDI. Additionally, it discusses various strategies that both capital-exporting and capital-importing countries can employ to ensure that FDI promotes development and that international investment agreements serve this purpose. This interdisciplinary study, situated at the crossroads of development economics, international investment law, and human rights, is accessible and relevant for anyone interested in how private investment can aid poorer nations in their developme