Karsten Nowrot
- Published in print:
- 2016
- Published Online:
- April 2016
- ISBN:
- 9780198738428
- eISBN:
- 9780191801723
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198738428.003.0011
- Subject:
- Law, Public International Law, Environmental and Energy Law
Once subject only to modest evaluation in the legal literature, questions relating to the termination and renegotiation of international investment treaties are currently emerging as future key ...
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Once subject only to modest evaluation in the legal literature, questions relating to the termination and renegotiation of international investment treaties are currently emerging as future key issues in the present transitional phase of international investment law. Against this background, this chapter proceeds to take a closer look at the public international law framework applicable to these two core procedural issues by discussing a number of legal issues such as the lawfulness or normative consequences of as well as alternatives to the current practice of an increasing number of States to terminate—as well as to frequently renegotiate—their investment agreements.Less
Once subject only to modest evaluation in the legal literature, questions relating to the termination and renegotiation of international investment treaties are currently emerging as future key issues in the present transitional phase of international investment law. Against this background, this chapter proceeds to take a closer look at the public international law framework applicable to these two core procedural issues by discussing a number of legal issues such as the lawfulness or normative consequences of as well as alternatives to the current practice of an increasing number of States to terminate—as well as to frequently renegotiate—their investment agreements.
Lukas Stifter and August Reinisch
- Published in print:
- 2016
- Published Online:
- April 2016
- ISBN:
- 9780198738428
- eISBN:
- 9780191801723
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198738428.003.0005
- Subject:
- Law, Public International Law, Environmental and Energy Law
Over the last decade, it has been recognized that foreign direct investment (FDI) by far outnumbers the official development assistance (ODA) and is therefore crucial to achieve sustainable ...
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Over the last decade, it has been recognized that foreign direct investment (FDI) by far outnumbers the official development assistance (ODA) and is therefore crucial to achieve sustainable development. Against this background, UNCTAD has adopted an investment policy framework for sustainable development in 2012 which proposes to create a new generation of investment treaties taking into account sustainable development concerns. Interestingly, this UNCTAD Framework does not consider omitting an expropriation clause to be an available option. Based on this finding, this contribution scrutinizes whether commitments governing expropriations undertaken by States within IIAs restrain their regulatory power and thus prevent them from adopting measures serving sustainable development.Less
Over the last decade, it has been recognized that foreign direct investment (FDI) by far outnumbers the official development assistance (ODA) and is therefore crucial to achieve sustainable development. Against this background, UNCTAD has adopted an investment policy framework for sustainable development in 2012 which proposes to create a new generation of investment treaties taking into account sustainable development concerns. Interestingly, this UNCTAD Framework does not consider omitting an expropriation clause to be an available option. Based on this finding, this contribution scrutinizes whether commitments governing expropriations undertaken by States within IIAs restrain their regulatory power and thus prevent them from adopting measures serving sustainable development.
Taylor St John
- Published in print:
- 2018
- Published Online:
- April 2018
- ISBN:
- 9780198789918
- eISBN:
- 9780191831553
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198789918.001.0001
- Subject:
- Political Science, International Relations and Politics
Today, investor–state arbitration embodies the worst fears of those concerned about runaway globalization—a far cry from its framers’ intentions. Why did governments create a special legal system in ...
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Today, investor–state arbitration embodies the worst fears of those concerned about runaway globalization—a far cry from its framers’ intentions. Why did governments create a special legal system in which foreign investors can bring cases directly against states? This book takes readers through the key decisions that created investor–state arbitration, drawing on internal documents from several governments and extensive interviews to illustrate the politics behind this new legal system. The corporations and law firms that dominate investor–state arbitration today were not present at its creation. In fact, there was almost no lobbying from investors. Nor did powerful states have a strong preference for it. Nor was it created because there was evidence that it facilitates investment—there was no such evidence. International officials with peacebuilding and development aims drove the rise of investor–state arbitration. This book puts forward a new historical institutionalist explanation to illuminate how the actions of these officials kicked off a process of gradual institutional development. While these officials anticipated many developments, including an enormous caseload from investment treaties, over time this institutional framework they created has been put to new purposes by different actors. Institutions do not determine the purposes to which they may be put, and this book’s analysis illustrates how unintended consequences emerge and why institutions persist regardless.Less
Today, investor–state arbitration embodies the worst fears of those concerned about runaway globalization—a far cry from its framers’ intentions. Why did governments create a special legal system in which foreign investors can bring cases directly against states? This book takes readers through the key decisions that created investor–state arbitration, drawing on internal documents from several governments and extensive interviews to illustrate the politics behind this new legal system. The corporations and law firms that dominate investor–state arbitration today were not present at its creation. In fact, there was almost no lobbying from investors. Nor did powerful states have a strong preference for it. Nor was it created because there was evidence that it facilitates investment—there was no such evidence. International officials with peacebuilding and development aims drove the rise of investor–state arbitration. This book puts forward a new historical institutionalist explanation to illuminate how the actions of these officials kicked off a process of gradual institutional development. While these officials anticipated many developments, including an enormous caseload from investment treaties, over time this institutional framework they created has been put to new purposes by different actors. Institutions do not determine the purposes to which they may be put, and this book’s analysis illustrates how unintended consequences emerge and why institutions persist regardless.
