The Political Economy of the Investment Treaty Regime

Author: Jonathan Bonnitcha,Lauge N. Skovgaard Poulsen,Michael Waibel

Publisher: Oxford University Press

ISBN: 0192529838

Category: Business & Economics

Page: 336

View: 5266

Investment treaties are some of the most controversial but least understood instruments of global economic governance. Public interest in international investment arbitration is growing and some developed and developing countries are beginning to revisit their investment treaty policies. The Political Economy of the Investment Treaty Regime synthesises and advances the growing literature on this subject by integrating legal, economic, and political perspectives. Based on an analysis of the substantive and procedural rights conferred by investment treaties, it asks four basic questions. What are the costs and benefits of investment treaties for investors, states, and other stakeholders? Why did developed and developing countries sign the treaties? Why should private arbitrators be allowed to review public regulations passed by states? And what is the relationship between the investment treaty regime and the broader regime complex that governs international investment? Through a concise, but comprehensive, analysis, this book fills in some of the many "blind spots" of academics from different disciplines, and is the first port of call for lawyers, investors, policy-makers, and stakeholders trying to make sense of these critical instruments governing investor-state relations.
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The Political Economy of the Investment Treaty Regime

Author: Jonathan Bonnitcha,Lauge N. Skovgaard Poulsen,Michael Waibel

Publisher: Oxford University Press

ISBN: 019871954X

Category: Business & Economics

Page: 352

View: 3719

Investment treaties are some of the most controversial but least understood instruments of global economic governance. Public interest in international investment arbitration is growing and some developed and developing countries are beginning to revisit their investment treaty policies. The Political Economy of the Investment Treaty Regime synthesises and advances the growing literature on this subject by integrating legal, economic, and political perspectives. Based on an analysis of the substantive and procedural rights conferred by investment treaties, it asks four basic questions. What are the costs and benefits of investment treaties for investors, states, and other stakeholders? Why did developed and developing countries sign the treaties? Why should private arbitrators be allowed to review public regulations passed by states? And what is the relationship between the investment treaty regime and the broader regime complex that governs international investment? Through a concise, but comprehensive, analysis, this book fills in some of the many "blind spots" of academics from different disciplines, and is the first port of call for lawyers, investors, policy-makers, and stakeholders trying to make sense of these critical instruments governing investor-state relations.
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The Political Economy of the Investment Treaty Regime

Author: Jonathan Bonnitcha,Lauge N. Skovgaard Poulsen,Michael Waibel

Publisher: Oxford University Press

ISBN: 0191030244

Category: Business & Economics

Page: 336

View: 857

Investment treaties are some of the most controversial but least understood instruments of global economic governance. Public interest in international investment arbitration is growing and some developed and developing countries are beginning to revisit their investment treaty policies. The Political Economy of the Investment Treaty Regime synthesises and advances the growing literature on this subject by integrating legal, economic, and political perspectives. Based on an analysis of the substantive and procedural rights conferred by investment treaties, it asks four basic questions. What are the costs and benefits of investment treaties for investors, states, and other stakeholders? Why did developed and developing countries sign the treaties? Why should private arbitrators be allowed to review public regulations passed by states? And what is the relationship between the investment treaty regime and the broader regime complex that governs international investment? Through a concise, but comprehensive, analysis, this book fills in some of the many "blind spots" of academics from different disciplines, and is the first port of call for lawyers, investors, policy-makers, and stakeholders trying to make sense of these critical instruments governing investor-state relations.
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Bounded Rationality and Economic Diplomacy

The Politics of Investment Treaties in Developing Countries

Author: Lauge N. Skovgaard Poulsen

Publisher: Cambridge University Press

ISBN: 1107119537

Category: Business & Economics

Page: 264

View: 913

Examines how developing countries often sign up to highly potent rules underwriting economic globalisation without even realising it.
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The Impact of Investment Treaty Law on Host States

Enabling Good Governance?

Author: Mavluda Sattorova

Publisher: Bloomsbury Publishing

ISBN: 1509901981

Category: Law

Page: 232

View: 9417

Traditionally, international investment law was conceptualised as a set of norms aiming to ensure good governance for foreign investors, in exchange for their capital and know-how. However, the more recent narratives postulate that investment treaties and investor–state arbitration can lead to better governance not just for foreign investors but also for host state communities. Investment treaty law can arguably foster good governance by holding host governments liable for a failure to ensure transparency, stability, predictability and consistency in their dealings with foreign investors. The recent proliferation of such narratives in investment treaty practice, arbitral awards and academic literature raises questions as to their juridical, conceptual and empirical underpinnings. What has propelled good governance from a set of normative ideals to enforceable treaty standards? Does international investment law possess the necessary characteristics to inspire changes at the national level? How do host states respond to investment treaty law? The overarching objective of this monograph is to unpack existing assumptions concerning the effects of international investment law on host states. By combining doctrinal, empirical, comparative analysis and unveiling the emerging 'nationally felt' responses to international investment norms, the book aims to facilitate a more informed understanding of the present contours and the nature of the interplay between international investment norms and national realities.
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Judicial Acts and Investment Treaty Arbitration

Author: Berk Demirkol

Publisher: Cambridge University Press

ISBN: 1107198461

Category: Law

Page: 300

View: 977

A study of state responsibility for acts committed in the course of different stages of adjudicatory process.
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Substantive Protection under Investment Treaties

Author: Jonathan Bonnitcha

Publisher: Cambridge University Press

ISBN: 1107042410

Category: Law

Page: 432

View: 9922

This book seeks to determine the level of substantive protection that investment treaties should provide to foreign investment.
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The Law of Investment Treaties

Author: Jeswald W. Salacuse

Publisher: OUP Oxford

ISBN: 0191009156

Category: Law

Page: 620

View: 5074

The rapid growth in investment treaties has led to a burgeoning number of international arbitration decisions that have applied and interpreted treaty provisions in disputes between investors and states concerning their respective rights. This flurry of treaties and arbitral decisions has seen the creation of a new branch of international law- the law of investment claims. In this revised edition, Jeswald Salacuse examines the law of international investment treaties, specifically in relation to its origins, structure, content, and effect, as well as their impact on international investors and investments, and the governments that are parties to them. Investment treaty law is a rapidly evolving field and since publication of the first edition, the law of international investment treaties has both experienced considerable growth and generated extensive controversy. 2011 saw the highest number of new treaty-based arbitration filed under international investment agreements to date, and in July 2014, the Yukos Universal Limited (Isle of Man) v The Russian Federation culminated with awards of over US$50 billion; a historic record for any arbitration. Controversy in this field has primarily revolved around the investor-state dispute settlement process, which as thus far involved at least 98 states as respondents. Salacuse captures these developments in this updated edition, examining not only the significant growth in treaties, but the trends that have followed, and their effect on the content and evolution of the law of investment treaties. Specific topics include conditions for the entry of foreign investment and general standards of treatment of foreign investments; monetary transfers; operational conditions; protection against expropriation; dispossession and compensation for losses; dispute settlement, including negotiation, arbitration, and conciliation; and judicial proceedings.
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Reassertion of Control over the Investment Treaty Regime

Author: Andreas Kulick

Publisher: Cambridge University Press

ISBN: 1107172659

Category: Business & Economics

Page: 412

View: 7436

This book identifies a paradigm shift in international investment law and enquires into how states reassert control over investment treaties.
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The Clash of Globalizations

Essays on the Political Economy of Trade and Development Policy

Author: Kevin P. Gallagher

Publisher: Anthem Press

ISBN: 0857283278

Category: Business & Economics

Page: 170

View: 8257

Authored by one of the leading scholars of German Indology, “Fortified Cities in Ancient India” offers a comparative exploration of the development of towns and cities in ancient India. Based on in-depth textual and archeological research, Professor Dieter Schlingloff’s work presents for the first time the striking outcomes of intertwining data garnered from a wide range of sources. This volume scrutinizes much of the established knowledge on urban fortifications in South Asia, advancing new conceptions based on an authoritative, far-reaching study.
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Improving International Investment Agreements

Author: Armand L. C. De Mestral,Ca(c)Line La(c)Vesque

Publisher: Routledge

ISBN: 0415671973

Category: Business & Economics

Page: 417

View: 2334

"In recent years, the world has witnessed the coming of age of international investment law. The numbers are telling with over 2600 bilateral investment treaties, over 462 free trade, customs unions and other economic partnership agreements notified to the WTO, with 276 being in force, an increasing number of which include investment chapters, and over 350 known investor-State treaty-based arbitrations. This phenomenon has not left many untouched as over 175 States have signed international investment agreements (IIAs) and at least 81 governments have faced investment treaty arbitrations. The regime, however, has not been without criticisms. The main criticisms being: that IIAs do not fulfil their great bargain the promotion of investment, while they effectively protect powerful economic interests; that IIAs protect investor's rights over the public interest of the host country; that the dispute settlement system put in place by IIAs lacks legitimacy due to the fundamentally ad hoc nature of investor-State arbitration; and that the complexity and cost of the system are out of control.This book takes stock of developments in international investment law and analyzes potential solutions to some of these criticisms from the perspective of international public policy, in negotiations, substantive obligations and dispute resolution. The book is prepared by a group of scholars and practitioners from Canada and Europe. It takes a multidisciplinary approach to the subject, with analysis from the legal, political and economic perspectives. The first part of the book traces the evolution in IIA treaty-making and provides an evaluation from a political economy and economics perspective. The other three parts are organised around the concepts of efficiency, legitimacy and sustainability. Each contributor analyzes one or more issues of treaty negotiation, substance or dispute resolution, with the ultimate aim of improving IIA treaty-making in these respects."--
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Foreign Direct Investment and Human Development

The Law and Economics of International Investment Agreements

Author: Olivier De Schutter,Johan F. M. Swinnen,Jan Wouters

Publisher: Routledge

ISBN: 0415535484

Category: Business & Economics

Page: 347

View: 9140

The effect on developing countries of the arrival of foreign direct investment (FDI) has been a subject of controversy for decades in the development community. The debate over the relationship between FDI in developing countries and the progress of these countries towards human development is an ongoing and often heated one.Adopting an interdisciplinary perspective combining insights from international investment law, human rights law and economics, this book offers an original contribution to the debate. It explores how improvements...
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The WTO and International Investment Law

Converging Systems

Author: Jürgen Kurtz

Publisher: Cambridge University Press

ISBN: 1107009707

Category: Law

Page: 326

View: 6395

Jürgen Kurtz provides a theoretically grounded and doctrinally tractable framework to understand the relationship between international trade and investment law.
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The EU in the Global Investment Regime

Commission Entrepreneurship, Incremental Institutional Change and Business Lethargy

Author: Johann Robert Basedow

Publisher: Routledge

ISBN: 1351621564

Category: Political Science

Page: 262

View: 9234

The European Union (EU) has emerged as a key actor in the global investment regime since the 1980s. At the same time, international investment policy and agreements, which govern international investment liberalisation, treatment and protection through investor-to-state dispute settlement, have become increasingly contentious in the European public debate. This book provides an accessible introduction to international investment policy and seeks to explain how the EU became an actor in the global investment regime. It offers a detailed analysis of the EU’s participation in all major trade and investment negotiations since the 1980s and EU-internal competence debates to identify the causes behind the EU’s growing role in this policy domain. Building on principal-agent and historical institutionalist models of incremental institutional change, the book shows that Commission entrepreneurship was instrumental in the emergence of the EU as a key actor in the global investment regime. It refutes business-centred liberal intergovernmental explanations, which suggest that business lobbying made the Member States accept the EU’s growing role and competence in this domain. The book lends support to supranational and challenges intergovernmental thinking on European Integration. This text will be of key interest to scholars, students and practitioners of European and regional integration, EU foreign relations, EU trade and international investment law, business lobbying, and more broadly of international political economy.
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The Effect of Treaties on Foreign Direct Investment

Bilateral Investment Treaties, Double Taxation Treaties, and Investment Flows

Author: Karl P Sauvant,Lisa E Sachs

Publisher: Oxford University Press

ISBN: 0199745188

Category: Law

Page: 800

View: 3901

Over the past twenty years, foreign direct investments have spurred widespread liberalization of the foreign direct investment (FDI) regulatory framework. By opening up to foreign investors and encouraging FDI, which could result in increased capital and market access, many countries have improved the operational conditions for foreign affiliates and strengthened standards of treatment and protection. By assuring investors that their investment will be legally protected with closed bilateral investment treaties (BITs) and double taxation treaties (DTTs), this in turn creates greater interest in FDI.
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International Economic Law and Governance

Essays in Honour of Mitsuo Matsushita

Author: Julien Chaisse,Tsai-yu Lin

Publisher: Oxford University Press

ISBN: 0191084123

Category: Law

Page: 624

View: 2483

Nation states have long and successfully claimed to be the proper and sovereign forum for determining a country's international economic policies. Increasingly, however, supranational and non-governmental actors are moving to the front of the stage. New forms of multilateral and global policy-making have emerged, including states and national administrations, key international organizations, international conferences, multinational enterprises, and a wide range of transnational pressure groups and NGOs that all claim their share in exercising power and influence on international and domestic policy-making. In honour of Professor Mitsuo Matsushita's intellectual contributions to the field of international economic law, this volume reflects on the current state and the future of international economic law. The book addresses a broad spectrum of themes in contemporary international economic regulations and focuses specifically on the significant areas of Professor Matsushita's scholarship, including the rise of the soft-law mechanism in international economic regulation, the role of the WTO and dispute settlement, and specific areas such as competition, subsidies, anti-dumping, intellectual property, and natural resources. Part one of the volume provides a comprehensive and critical analysis of the rule-based international dispute settlement mechanisms; Part two investigates the normative influences to and from WTO law; and Part three focuses on policy and law-making issues.
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Interpretation of International Investment Treaties

Author: Tarcisio Gazzini

Publisher: Bloomsbury Publishing

ISBN: 1782255664

Category: Law

Page: 424

View: 7833

This book offers a systematic study of the interpretation of investment-related treaties – primarily bilateral investment treaties, the Energy Charter Treaty, Chapter XI NAFTA as well as relevant parts of Free Trade Agreements. The importance of interpretation in international law cannot be overstated and, indeed, most treaty claims adjudicated before investment arbitral tribunals have raised and continue to raise crucial and often complex issues of interpretation. The interpretation of investment treaties is governed by the Vienna Convention on the Law of Treaties (VCLT). The disputes relating to these treaties, however, are rather peculiar as they place multinational companies (or natural person) in opposition to sovereign governments. Fundamental questions dealt with in the study include: Are investment treaties a special category of treaty for the purpose of interpretation? How have the rules on interpretation contained in the VCLT been applied in investment disputes? What are the main problems encountered in investment-related disputes? To what extent are the VCLT rules suited to the interpretation of investment treaties? Have tribunals developed new techniques concerning treaty interpretation? Are these techniques consistent with the VCLT? How can problems relating to interpretation be solved or minimised? How creative have arbitral tribunals been in interpreting investment treaties? Are States capable of keeping effective control over interpretation?
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Power in the International Investment Framework

Author: Maria A. Gwynn

Publisher: Springer

ISBN: 1137571438

Category: Political Science

Page: 243

View: 5152

This book offers a unique analysis of bilateral investment treaties (BITs). By developing a new, power-focused paradigm for understanding the international investment framework, the author illustrates why there was no paradoxical behaviour when developing countries agreed to the BIT regime, and what has spurred their reaction against it now. She also examines how attempts to regulate investment at a multilateral level have failed, and why the rules of the framework are evolving. Inspired by the work of Susan Strange, Gwynn fills a significant lacuna in our understanding of these issues by demonstrating how power determines the actions of all those involved. This holistic reinterpretation of international investment focuses in particular on Latin America, but has wider implications for the negotiation of new treaties, including such controversial provisions as the Transatlantic Trade and Investment Partnership. It will appeal to lawyers, economists, political scientists and scholars of Latin America.
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Shifting Paradigms in International Investment Law

More Balanced, Less Isolated, Increasingly Diversified

Author: Steffen Hindelang,Markus Krajewski

Publisher: Oxford University Press

ISBN: 0191058289

Category: Law

Page: 430

View: 6532

International investment law is in transition. Whereas the prevailing mindset has always been the protection of the economic interests of individual investors, new developments in international investment law have brought about a paradigm shift. There is now more than ever before an interest in a more inclusive, transparent, and public regime. Shifting Paradigms in International Investment Law addresses these changes against the background of the UNCTAD framework to reform investment treaties. The book analyses how the investment treaty regime has changed and how it ought to be changing to reconcile private property interests and the state's duty to regulate in the public interest. In doing so, the volume tracks attempts in international investment law to recalibrate itself towards a more balanced, less isolated, and increasingly diversified regime. The individual chapters of this edited volume address the contents of investment agreements, the system of dispute settlement, the interrelation of investment agreements with other areas of public international law, constitutional questions, and new regional perspectives from Europe, South Africa, the Pacific Rim Region, and Latin America. Together they provide an invaluable resource for scholars, practitioners, and policymakers. The individual chapters of this edited volume address the contents of investment agreements, the system of dispute settlement, the interrelation of investment agreements with other areas of public international law, constitutional questions, and new regional perspectives from Europe, South Africa, the Pacific Rim Region, and Latin America. Together they provide an invaluable resource for scholars, practitioners, and policymakers.
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Protection of Foreign Investment in India and Investment Treaty Arbitration

Author: Aniruddha Rajput

Publisher: Kluwer Law International

ISBN: 9789041182319

Category: Law

Page: 248

View: 7425

Protection of Foreign Investment in India and Investment Treaty Arbitration aims at introducing the driving concepts of investment arbitration with a focus on Bilateral Investment Treaties (BITs) and Free Trade Agreements. India is one of the fastest growing economies and intends to achieve the desired growth with the help of foreign investment. Recently, India terminated all the existing BITs and announced to renegotiate them based on the newly issued Model BIT. This book is the first comprehensive commentary and analyses of international investment law with a focus on India. It offers detailed examination of India's legal position in relation to protection of foreign investment and the impact of investment treaty arbitration and related jurisprudence on the country's governance structures and regulatory framework. Additionally, it reflects upon the political and economic rationales for the policy on foreign investment. What's in this book: Among the matters discussed are the following: jurisprudence of investment tribunals, with a focus on cases where India was a party (White Industries v. India); impact of the Make in India campaign and other reforms on foreign investment; requirement of valid entry and operation of foreign investment; prominent treatment standards such as expropriation, fair and equitable treatment, full protection and security, most favoured nation, and national treatment; dispute resolution clauses and enforcement of investment arbitration awards; interaction of protection of foreign investment and the Indian judiciary; and reasons for India not joining the ICSID Convention. How this will help you: Given India's position as a hugely influential player in the cross-border movement of capital, this book discusses the willingness of the Indian legal system to 'change the rules' towards protection of foreign investment and investment treaty arbitration. This book serves as a guide to understanding the implications of municipal law and the jurisprudence of Indian courts on international investment law. Thus, this book proves to be of immeasurable value to practitioners, legal academics, interested policy makers, multinational corporations and their counsel, and others to confidently face the challenges posed by the investment protection regime in India.
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