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Limits of Commercial Investor-State Arbitration: The Need for Appellate Review

Jacques Werner

in Human Rights in International Investment Law and Arbitration

This chapter explains why investor-state arbitration is often wrongfully likened to international commercial arbitration among private parties. Investor-state arbitrations involve not only private ... More

This chapter explains why investor-state arbitration is often wrongfully likened to international commercial arbitration among private parties. Investor-state arbitrations involve not only private business interests but also public policies of the host state and citizen rights. Arbitral awards on investor-state disputes risk lacking credibility and democratic acceptability if they overrule, in non-transparent proceedings, democratically legitimate government decisions on grounds of investor-state contracts. Similar to the introduction of appellate review in the GATT/WTO dispute settlement system, the transparency, legitimacy, and legal coherence of investor-state arbitration could be enhanced by introduction of an appellate instance.Less

China: The Indigenization of Insurance

David Faure and Elisabeth Köll

in World Insurance: The Evolution of a Global Risk Network

This chapter traces the history of the Chinese insurance industry. The idea that insurance might be paid for was foreign to China. The concept was introduced in the early nineteenth century by ... More

This chapter traces the history of the Chinese insurance industry. The idea that insurance might be paid for was foreign to China. The concept was introduced in the early nineteenth century by Westerners trading in Guangzhou. Indigenization was a slow process which stretched from the mid-nineteenth century to the mid-twentieth. The establishment of the People's Republic in 1949, with a decided turn against foreign enterprises operating in China from the 1950s, and radical communism from the late 1960s through the 1970s, led to its eradication. It was revived from the reversal of the state's policy towards private business from late 1978, and has grown rapidly since.Less

Fragmentation of the State?

Adam Crawford

in The Local Governance of Crime: Appeals to Community and Partnerships

This chapter assesses the theoretical explanations for the nature of ‘partnerships’ as constituting new forms of local governance. It also discusses the key theoretical debates concerning the ... More

This chapter assesses the theoretical explanations for the nature of ‘partnerships’ as constituting new forms of local governance. It also discusses the key theoretical debates concerning the location of social power – with particular regard to the formation and implementation of local crime control policy – and the manner in which it has been transformed by recent developments. It examines relations between the central state and local intermediary bodies. Then, it considers the implications of the research findings for the nature of relations at the local level, within and between the local state, interest groups, and associations within the new policy partnerships. In particular, it evaluates the extent to which the private-business sector has become involved in shaping the policy process. Finally, it explores broadly some of the possible implications of the earlier insights for the form and substance of the policies themselves.Less

Competition Law and Regional Trade Agreements: An Overview

Melaku Geboye Desta and Naomi Julia Barnes

in Regional Trade Agreements and the WTO Legal System

This chapter presents an overview of the application of competition law in regional trade agreements (RTA). It explains that competition law became a common element of bilateral and regional trade ... More

This chapter presents an overview of the application of competition law in regional trade agreements (RTA). It explains that competition law became a common element of bilateral and regional trade agreements because private business conduct, if left unregulated, can distort and defeat the intended effects of trade agreements. However, competition provisions are usually not consistent in their scope and terms, and they often include important exemptions from competition regimes.Less

The Contribution of Multinational Corporations to U.S. Productivity Growth, 1977–2000

Carol Corrado, Paul Lengermann, and Larry Slifman

in International Trade in Services and Intangibles in the Era of Globalization

This chapter examines the contribution of multinational corporations (MNC) to the aggregate productivity record of the U.S. for the period from 1977 to 2000. The findings indicate that MNC parents or ... More

This chapter examines the contribution of multinational corporations (MNC) to the aggregate productivity record of the U.S. for the period from 1977 to 2000. The findings indicate that MNC parents or affiliates based in the U.S. play a major role in productivity improvement. It explains that while the MNC sector only accounts for about 25 percent of the gross product of all nonfarm private businesses and about 40 percent of nonfinancial corporate gross product, it accounted for more than half of the increase for all nonfarm private businesses and all of the increase in the labor productivity of nonfinancial corporations in the late 1990s.Less

The Private Provision of Missing Public Goods: Evidence from Narayana Health in India

Tarun Khanna and Budhaditya Gupta

in India as a Pioneer of Innovation

This chapter explores the long-standing puzzle of the optimal role and impact of private business in public life based on evidence from a healthcare entrepreneur in India. To realize its goal of ... More

This chapter explores the long-standing puzzle of the optimal role and impact of private business in public life based on evidence from a healthcare entrepreneur in India. To realize its goal of delivering affordable, high-quality care to the indigent population in India, Narayana Health (NH) had to address a number of voids created by the absence of supporting market institutions. This was done with entrepreneurial aplomb, sometimes even catalysing governmental action, by becoming a trusted intermediary to providers of all sorts of factor inputs who would otherwise not make their services available. This partial private provision of public infrastructure by NH illustrates how social investments by resource-constrained entrepreneurs in emerging markets can yield both private and public benefits.Less

When the Rules Change in Midstream

in Science for Sale: The Perils, Rewards, and Delusions of Campus Capitalism

This chapter discusses the challenges faced by Saint Louis University (SLU) professor William S.M. Mold in the commercialization of his cancer research. It explains that Mold is the president and CEO ... More

This chapter discusses the challenges faced by Saint Louis University (SLU) professor William S.M. Mold in the commercialization of his cancer research. It explains that Mold is the president and CEO of a biotechnology company he founded called VirRx and SLU was uneasy about the propriety of the complex financial arrangements for Wold's research. The SLU's Conflict of Interest Committee deliberated on the issue and decided to move VirRx laboratory to an off-campus location in order to have clear distinction between university business and private business.Less