1 Capital is one of the most important factors of production in modern economies. Its free, unrestricted flow is at the basis of the process of economic globalization. These economic truisms, however, are not adequately reflected in international law as there is no general, universally recognized definition of the notion of free flow of capital. The broad concept of free flow of capital embraces aspects relating to capital movements, balance of payments as well as foreign investments. Because there are manifold interrelations between those different aspects, it is...
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