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Police Powers, Regulatory Takings and the Efficient Compensation of Domestic and Foreign Investors

Aisbett, Emma; Karp, Larry; McAusland, Carol

Description

Modern international investment agreements have challenged the customary exclusion of public good regulations from being considered government 'takings' subject to compensation rules. Full compensation for regulatory takings can, however, lead to over-investment and excessive entry in risky industries. An alternative is to 'carve-out' apparently efficient regulation from compensation requirements. We design a carve-out/compensation rule that induces efficient regulation and firm-level...[Show more]

CollectionsANU Research Publications
Date published: 2010
Type: Journal article
URI: http://hdl.handle.net/1885/32742
Source: The Economic Record
DOI: 10.1111/j.1475-4932.2009.00616.x

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