This paper explores the role of International Investment Agreements (IIAs) on Foreign Direct Investment (FDI) in Asia. Using a dataset including granular information on 15 investment provisions in Asian IIAs, we explore their effect on the volume, entry mode and sectoral composition of bilateral FDI. We explore the role of <em>new</em> investment provisions, such as public interest obligations, performance requirements, access to arbitration and transparency in investor-State arbitration, in explaining recent FDI patterns in the region. The paper concludes with policy lessons on the long-term impact of investment provisions for other regions where they have been implemented.

JEL codes: F21, F23, K33