Antonio R. Parra
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199660568
- eISBN:
- 9780191743382
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199660568.003.0002
- Subject:
- Law, Public International Law, Legal History
This chapter looks at the immediate origins of the ICSID Convention, in the years 1955 to 1962. It discusses the proposed multilateral approaches to the promotion of private foreign investment, the ...
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This chapter looks at the immediate origins of the ICSID Convention, in the years 1955 to 1962. It discusses the proposed multilateral approaches to the promotion of private foreign investment, the World Bank's consideration of proposals, the role of ‘Black's Bank’ in the settlement of investment disputes, and the Bank begins to work on the initiative.Less
This chapter looks at the immediate origins of the ICSID Convention, in the years 1955 to 1962. It discusses the proposed multilateral approaches to the promotion of private foreign investment, the World Bank's consideration of proposals, the role of ‘Black's Bank’ in the settlement of investment disputes, and the Bank begins to work on the initiative.
Nicolás M. Perrone
- Published in print:
- 2021
- Published Online:
- March 2021
- ISBN:
- 9780198862147
- eISBN:
- 9780191894831
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198862147.003.0003
- Subject:
- Law, Public International Law
In the post-World War II period, business leaders, bankers, and their lawyers decided it was their time to write the rules of the global economy. They felt that the nationalization of the ...
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In the post-World War II period, business leaders, bankers, and their lawyers decided it was their time to write the rules of the global economy. They felt that the nationalization of the Anglo-Iranian Oil Company (in 1951) and of the Suez Canal (in 1956), together with increasing state economic intervention all around the world, warranted a call for action. They formed a coalition to enable and safeguard a world of free enterprise; promoting and protecting foreign private investment was a top priority. This chapter examines who these norm entrepreneurs were, their networks, and how they captured the space of international investment law to advance their world-making project. As individuals and through professional associations, they imagined quite detailed institutions and standards for this legal field. They discussed foreign investor rights, indirect expropriation, fair and equitable treatment, the internationalization of contracts, reliance, the inadequacy of local remedies, and the crucial role of international arbitration.Less
In the post-World War II period, business leaders, bankers, and their lawyers decided it was their time to write the rules of the global economy. They felt that the nationalization of the Anglo-Iranian Oil Company (in 1951) and of the Suez Canal (in 1956), together with increasing state economic intervention all around the world, warranted a call for action. They formed a coalition to enable and safeguard a world of free enterprise; promoting and protecting foreign private investment was a top priority. This chapter examines who these norm entrepreneurs were, their networks, and how they captured the space of international investment law to advance their world-making project. As individuals and through professional associations, they imagined quite detailed institutions and standards for this legal field. They discussed foreign investor rights, indirect expropriation, fair and equitable treatment, the internationalization of contracts, reliance, the inadequacy of local remedies, and the crucial role of international arbitration.
