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The International Trade effects of Bilateral Investment Treaties

Benedikt Heid () and Isaac Vozzo ()
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Isaac Vozzo: School of Economics, University of Adelaide

No 2020-08, School of Economics Working Papers from University of Adelaide, School of Economics

Abstract: We study the international trade effects of bilateral investment treaties (BITs) and compare them to those of regional trade agreements (RTAs). We find that a typical BIT increases bilateral trade flows by similar amounts as an RTA if the RTA contains an investment chapter. BITs have larger trade effects than RTAs without an investment chapter. Results are robust to controlling for the effects of unilateral investment laws. They imply that evaluations of trade and investment agreements should also consider investment regulation.

Keywords: Bilateral investment treaties; regional trade agreements; international trade; structural gravity. (search for similar items in EconPapers)
JEL-codes: F13 F14 F15 F23 F53 K33 (search for similar items in EconPapers)
Date: 2020-08
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