Současná Evropa 2013, 2013(2):67-85

Investiční regulatorní prostředí a Evropská unie

Ludmila Štěrbová

Investiční podnikatelské prostředí a jeho regulace a liberalizace významným způsobem ovlivňují rozhodnutí mezinárodních investorů a následně výši a toky přímých zahraničních investic. Protekcionismus ve vztahu k investicím je patrný z indexu překážek pro přímé zahraniční investice. Index vypovídá i o různé míře otevřenosti trhů v jednotlivých členských státech (ČS) Evropské unie (EU), přestože se v ní aplikuje princip volného pohybu kapitálu. K tomuto stavu přispívá také mezinárodní rámec, ve kterém je investiční regulace EU a jejích ČS vytvářena. K rámci patří především bilaterální dohody, ať už investiční smlouvy jednotlivých ČS nebo investiční kapitoly preferenčních obchodních dohod, mezinárodní závazky, doporučení a směrnice s investičními aspekty. EU postupně směřuje k harmonizaci investičních pravidel a k vytvoření společné investiční politiky, která bude obdobou společné obchodní politiky. Významným krokem z tohoto hlediska byla Lisabonská smlouva, která zařadila investice mezi výlučné kompetence EU. Článek analyzuje investiční regulatorní prostředí EU z hlediska implementace mezinárodního rámce a mapuje směřování EU v této oblasti.

Keywords: Investice, pravidla, harmonizace, Evropská unie

Investment Regulatory Environment and the European Union

Investment business environment and its regulation and liberalization have a great importance and impact on decisions of international investors and following flows of foreign direct investment. Investment protectionism is considered by the OECD FDI Regulatory Restrictiveness Index. Index testifies also different level of market openness in individual EU Member States, even if the EU applies the principle of free movement of capital. This situation is caused by the international framework that is implemented into the EU investment regulation and regulation of the Member States. The framework is composed by bilateral investment treaties and investment chapters of preferential trade agreements, international commitments, recommendation and guidelines with investment aspects. From this point of view, the Lisbon treaty was an important step that included investment into the exclusive competences of the EU. The article analyses the EU investment regulatory environment from the perspective of implementation and future development in this area within the EU.

Keywords: Investment, Rules, Harmonization, European Union

Published: December 1, 2013  Show citation

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Štěrbová, L. (2013). Investment Regulatory Environment and the European Union. Contemporary Europe, 2013(2), 67-85
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