Author: Stephan W. Schill

Publisher: Cambridge University Press

ISBN: 0521762367

Category: Law

Page: 451

View: 994

The book argues that international investment law is a structured body of law based on uniform principles of investment protection.
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A human rights perspective

Author: Lone Wandahl Mouyal

Publisher: Routledge

ISBN: 1317408020

Category: Business & Economics

Page: 264

View: 8429

The book considers the ways in which the international investment law regime intersects with the human rights regime, and the potential for clashes between the two legal orders. Within the human rights regime states may be obligated to regulate, including a duty to adopt regulation aiming at improving social standards and conditions of living for their population. Yet, states are increasingly confronted with the consequences of such regulation in investment disputes, where investors seek to challenge regulatory interferences for example in expropriation claims. Regulatory measures may for instance interfere with the investment by imposing conditions on investors or negatively affecting the value of the investment. As a consequence, investors increasingly seek to challenge regulatory measures in international investment arbitration on the basis of a bilateral investment treaty. This book sets out the nature and the scope of the right to regulate in current international investment law. The book examines bilateral investment treaties and ICSID arbitrations looking at the indicative parameters that are granted weight in practice in expropriation claims delimiting compensable from non-compensable regulation. The book places the potential clash between the right to regulate and international investment law within a theoretical framework which describes the stability-flexibility dilemma currently inherent within international law. Lone Wandahl Mouyal goes on to set out methods which could be employed by both BIT-negotiators and adjudicators of investment disputes, allowing states to exercise their right to regulate while at the same time providing investors with legal certainty. The book serves as a valuable tool, an added perspective, for academics as well as for practitioners dealing with aspects of international investment law.
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The ICESCR in Trade, Finance, and Investment

Author: Diane Desierto

Publisher: OUP Oxford

ISBN: 0191026484

Category: Law

Page: 432

View: 5585

States reject inequality when they choose to ratify the International Covenant on Economic, Social and Cultural Rights (ICESCR), but to date the ICESCR has not yet figured prominently in the policy calculus behind States' international economic decisions. This book responds to the modern challenge of operationalizing the ICESCR, particularly in the context of States' decisions within international trade, finance, and investment. Differentiating between public policy mechanisms and institutional functional mandates in the international trade, finance, and investment systems, this book shows legal and policy gateways for States to feasibly translate their fundamental duties to respect, protect, and fulfil economic, social and cultural rights into their trade, finance, and investment commitments, agreements, and contracts. It approaches the problem of harmonizing social protection objectives under the ICESCR with a State's international economic treaty obligations, from the designing and interpreting international treaty texts, up to the institutional monitoring and empirical analysis of ICESCR compliance. In examining public policy options, the book takes into account around five decades of States' implementation of social protection commitments under the ICESCR; its normative evolution through the UN Committee on Economic, Social and Cultural Rights, and the Committee's expanded fact-finding and adjudicative competences under the Optional Protocol to the ICESCR; as well as the critical, dialectical, and deliberative roles of diverse functional interpretive communities within international trade, finance, and investment law. Ultimately, the book shoes how States' ICESCR commitments operate as the normative foundation of their trade, finance, and investment decisions.
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Duties to the World's Poor

Author: Krista Nadakavukaren Schefer

Publisher: Cambridge University Press

ISBN: 1107032741

Category: Business & Economics

Page: 453

View: 3134

Looking beyond development, this volume examines international trade, investment and finance law with a focus on poverty.
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Balancing Policy Space and Legal Constraints

Author: Dominic Coppens

Publisher: Cambridge University Press

ISBN: 1139916017

Category: Law

Page: N.A

View: 600

Does the WTO leave appropriate policy space to its Members to pursue legitimate objectives, such as the economic development of developing countries, the conversion to a greener economy, or recovery in times of a global economic downturn? This legal and normative analysis of the WTO rules on subsidies and countervailing measures sheds light on why governments resort to subsidization and, by tracing the historical origins of the SCM Agreement and the Agreement on Agriculture, on why they have been willing to gradually confine their policy space. This sets the stage for a systematic and comprehensive legal analysis of both agreements, which integrates the vast amount of case law and proposals tabled in the Doha round. A separate case study explores the complex rules on export credit support, and the book closes with an in-depth normative assessment of these WTO rules on subsidies and countervailing measures.
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The Law and Economics of International Investment Agreements

Author: Olivier De Schutter,Johan Swinnen,Jan Wouters

Publisher: Routledge

ISBN: 1135128065

Category: Law

Page: 350

View: 8907

This book presents original research that examines the growth of international investment agreements as a means to attract foreign direct investment (FDI) and considers how this affects the ability of capital-importing countries to pursue their development goals. The hope of countries signing such treaties is that foreign capital will accelerate transfers of technologies, create employment, and benefit the local economy through various types of linkages. But do international investment agreements in fact succeed in attracting foreign direct investment? And if so, are the sovereignty costs involved worth paying? In particular, are these costs such that they risk undermining the very purpose of attracting investors, which is to promote human development in the host country? This book uses both economic and legal analysis to answer these questions that have become central to discussions on the impact of economic globalization on human rights and human development. It explains the dangers of developing countries being tempted to 'signal' their willingness to attract investors by providing far-reaching protections to investors' rights that would annul, or at least seriously diminish, the benefits they have a right to expect from the arrival of FDI. It examines a variety of tools that could be used, by capital-exporting countries and by capital-importing countries alike, to ensure that FDI works for development, and that international investment agreements contribute to that end. This uniquely interdisciplinary study, located at the intersection of development economics, international investment law, and international human rights is written in an accessible language, and should attract the attention of anyone who cares about the role of private investment in supporting the efforts of poor countries to climb up the development ladder.
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Bringing Theory into Practice

Author: Zachary Douglas,Joost Pauwelyn,Jorge E. Viñuales

Publisher: OUP Oxford

ISBN: 0191508586

Category: Law

Page: 586

View: 6477

International investment law is one of the fastest growing areas of international law. It has led to the signing of thousands of agreements, mostly in the form of investment contracts and bilateral investment treaties. Also, in the last two decades, there has been an exponential growth in the number of disputes being resolved by investment arbitration tribunals. Yet the legal principles at the basis of international investment law and arbitration remain in a state of flux. Perhaps the best illustration of this phenomenon is the wide disagreement among investment tribunals on some of the core concepts underpinning the regime, such as investment, property, regulatory powers, scope of jurisdiction, applicable law, or the interactions with other areas of international law. The purpose of this book is to revisit these conceptual foundations in order to shed light on the practice of international investment law. It is an attempt to bridge the growing gap between the theory and the practice of this thriving area of international law. The first part of the book focuses on the 'infrastructure' of the investment regime or, more specifically, on the structural arrangements that have been developed to manage foreign investment transactions and the potential disputes arising from them. The second part of the book identifies the common conceptual bases of an array of seemingly unconnected practical problems in order to clarify the main stakes and offer balanced solutions. The third part addresses the main sources of 'regime stress' as well as the main legal mechanisms available to manage such challenges to the operation of the regime. Overall, the book offers a thorough investigation of the conflicting theoretical positions underlying international investment law, testing their worth by reference to concrete issues that have arisen in the jurisprudence. It demonstrates that many of the most important practical questions arising in practice can be addressed by a carefully dosed resort to theory.
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Challenges for the Global Trading System

Author: Richard Baldwin,Patrick Low

Publisher: Cambridge University Press

ISBN: 9781139475396

Category: Law

Page: N.A

View: 814

Regional trade agreements (RTAs) have proliferated around the world in the past two decades, and now nearly all members of the WTO are party to at least one. Besides tariffs and rules of origin regulating trade in goods, many RTAs now include provisions on services, investments, technical barriers to trade and competition rules, as well as a host of issues not directly related to trade. The geographic reach of RTAs is expanding, with transcontinental agreements spreading forcefully alongside intra-regional agreements. 'Multilateralizing Regionalism' was the title of a major conference held from 10–12 September 2007 at the WTO in Geneva. Brought together in this publication, the conference papers achieve two things. First, they marshall detailed, new empirical work on the nature of the 'Spaghetti Bowl' and the problems it poses for the multilateral trade system. Second, they contribute fresh and creative thinking on how to 'tame the tangle' of regional trade agreements.
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Author: John G. Sprankling

Publisher: OUP Oxford

ISBN: 0191502510

Category: Law

Page: 400

View: 2706

Does a right to property exist under international law? The traditional answer to this question is no: a right to property can only arise under the domestic law of a particular nation. But the view that property rights are exclusively governed by national law is obsolete. Identifiable areas of property law have emerged at the international level, and the foundation is now arguably being laid for a comprehensive international regime. This book provides a detailed investigation into this developing international property law. It demonstrates how the evolution of international property law has been influenced by major economic, political, and technological changes: the embrace of private property by former socialist states after the end of the Cold War; the globalization of trade; the birth of new technologies capable of exploiting the global commons; the rise of digital property; and the increasing recognition of the human right to property. The first part of the book analyzes how international law impacts rights in specific types of property. In some situations, international law creates property rights, such as rights in aboriginal lands, deep seabed minerals, and satellite orbits. In other areas, it harmonizes property rights that arise at the national level, such as rights in intellectual property, rights in foreign investments, and security interests in personal property. Finally, it restricts property rights that may be recognized at the national level, such as rights in celestial bodies, contraband, and slaves. The second part of the book explores the thesis that a global right to property should be recognized as a general matter, not merely as a moral precept but rather as an entitlement that all nations must honour. It establishes the components of such a right, arguing that the right to property at the international level should be seen in the context of five key components of ownership: acquisition, use, destruction, exclusion, and transfer. This highly innovative book makes an important contribution to how we conceptualize the protection of property and to the understanding that much of this protection now takes place at the international level.
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Author: Stephan W. Schill

Publisher: Oxford University Press

ISBN: 0199589100

Category: Law

Page: 836

View: 8037

Investment treaty arbitration has a hybrid nature combining public international law (as regards its substance) with elements of international commercial arbitration (mainly as regards procedure). However, in essence and function it deals with a special, internationalised form of judicial review of governmental conduct that is more akin to the judicial control of governmental action provided for by national administrative and constitutional law than to either classic inter-state dispute resolution or international commercial arbitration. This has been recognised in some academic writing and several awards, where reference to national administrative law concepts and principles of international law-based judicial review of governmental action, such as international trade or human rights law, is used to help specify and apply the open-ended concepts of investment treaties. In-depth conceptualization is however often lacking. The current study is the first, pioneering effort to bring these under-developed ad hoc references to comparative and international administrative law concepts into a deeper theoretic and systematic framework. The book thus intends to develop a 'bridge' between treaty-based international investment arbitration and comparative administrative law on both a theoretical and practical level. The major obligations in investment treaties (indirect expropriation, fair and equitable treatment, national treatment, umbrella/sanctity of contract clause) and major procedural principles will be compared with their counterpart in comparative public law, both on the domestic as well as international level. That 'bridge' will allow international investment law to benefit from the comparative public law experience, which could enhance its legitimacy, its political acceptance, and its ability to develop more finely-tuned interpretations of central treaty obligations.
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Author: Yong-Shik Lee,Gary Horlick,Won-Mog Choi,Tomer Broude

Publisher: Cambridge University Press

ISBN: 1139499688

Category: Law

Page: N.A

View: 9746

Economic development is the most important agenda in the international trading system today, as demonstrated by the Doha Development Agenda (DDA) adopted in the current multilateral trade negotiations of the World Trade Organization (the Doha Round). This book provides a relevant discussion of major international trade law issues from the perspective of development in the following areas: general issues on international trade law and economic development; and specific law and development issues in World Trade Organization, Free Trade Agreement and regional initiatives. This book offers an unparalleled breadth of coverage on the topic and diversity of authorship, as seventeen leading scholars contribute chapters from nine major developed and developing countries, including the United States, Canada, Japan, China (including Hong Kong), South Korea, Australia, Singapore and Israel.
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Author: Rohini Acharya

Publisher: Cambridge University Press

ISBN: 1316889416

Category: Law

Page: N.A

View: 3307

This volume contains a collection of studies examining trade-related issues negotiated in regional trade agreements (RTAs) and how RTAs are related to the WTO's rules. While previous work has focused on subsets of RTAs, these studies are based on what is probably the largest dataset used to date, and highlight key issues that have been negotiated in all RTAs notified to the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO). New rules within RTAs are compared to rules agreed upon by WTO members. The extent of their divergences and the potential implications for parties to RTAs, as well as for WTO members that are not parties to RTAs, are examined. This volume makes an important contribution to the current debate on the role of the WTO in regulating international trade and how WTO rules relate to new rules being developed by RTAs.
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Author: Fabio Morosini,Michelle Ratton Sanchez Badin

Publisher: Cambridge University Press

ISBN: 1107190037

Category: Business & Economics

Page: 326

View: 7706

This book shows how the reform in investment regulation contributes to a broader attempt to transform the international economic order.
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Factors Shaping the Future of World Trade

Author: World Trade Organization,World Trade Organization Wto

Publisher: N.A

ISBN: 9789287038593

Category: Political Science

Page: 336

View: 3457

The world is changing with extraordinary rapidity, driven by many influences, including shifts in production and consumption patterns, continuing technological innovation, new ways of doing business and, of course, policy. The World Trade Report 2013 focuses on how trade is both a cause and an effect of change and looks into the factors shaping the future of world trade. One of the most significant drivers of change is technology. Not only have revolutions in transport and communications transformed our world but new developments, such as 3D printing, and the continuing spread of information technology will continue to do so. Trade and foreign direct investment, together with a greater geographical spread of income growth and opportunity, will integrate a growing number of countries into more extensive international exchange. Higher incomes and larger populations will put new strains on both renewable and non-renewable resources, calling for careful resource management. Environmental issues will also call for increasing attention. Economic and political institutions along with the interplay of cultural customs among countries all help to shape international cooperation, including in the trade field. The future of trade will also be affected by the extent to which politics and policies successfully address issues of growing social concern, such as the availability of jobs and persistent income inequality. These and other factors are all examined in the World Trade Report 2013.
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Author: Andrew D. Mitchell,M Sornarajah,Tania Voon

Publisher: OUP Oxford

ISBN: 0191060364

Category: Law

Page: 224

View: 4070

The past two decades have seen a significant proliferation of trade and investment treaties around the world. States are increasingly negotiating agreements that regulate both trade and investment, such as the Trans-Pacific Partnership Agreement and the Transatlantic Trade and Investment Partnership. The number of investor-state dispute settlement cases is rapidly accumulating each year, yet states' enthusiasm for investor-state arbitration has become more qualified as concern has intensified that the system can be abused by foreign investors. Good faith is therefore becoming increasingly important as a principle, particularly in the investment context, due to disputes about investor conduct such as corporate restructuring in order to gain the protection of a particular investment treaty regarding an existing or foreseeable dispute, and States' responses to public policy concerns through attempts to modify or terminate investment treaties in the face of ongoing or expected claims. Tribunals adjudicating investment disputes have used the principle of good faith in a haphazard and uncoordinated manner, causing serious problems of uncertainty and inconsistency. In response to these developments, this book contains the first comprehensive and integrated analysis of the treatment of good faith in international investment law, noting the broader implications of good faith in public international law and international trade law.
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Author: Jonathan Bonnitcha,Lauge N. Skovgaard Poulsen,Michael Waibel

Publisher: Oxford University Press

ISBN: 0192529838

Category: Business & Economics

Page: 336

View: 7666

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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Author: Andreas Kulick

Publisher: Cambridge University Press

ISBN: 1139510886

Category: Law

Page: N.A

View: 8659

The strengths of international investment law - above all, a strong focus on investor interests and an effective adjudication and enforcement system - also entail its weaknesses: it runs the danger of impeding or even sanctioning the host states' legitimate regulatory interests and ignoring other fields of public international law. How does it cope with public interest concerns such as human rights, the environment or the fight against corruption? At the heart of this book lies a fresh approach towards a general theory of such global public interest considerations in the investment realm. Delineating how and why those considerations matter, and why the current system does not accommodate them properly, Andreas Kulick fleshes out general principles and customary international law as defences the host state may raise against alleged investor rights infringements and promotes proportionality as the appropriate balancing mechanism.
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Multilateral, Plurilateral, Regional, and Unilateral Initiatives

Author: David A. Gantz

Publisher: Cambridge University Press

ISBN: 1107034205

Category: Business & Economics

Page: 400

View: 424

After ten years the Doha Development Round is effectively dead. Although some have suggested that Doha's demise threatens the continued existence of the GATT/WTO system, even with some risks of increasing protectionism, the United States, the European Union, Japan, Brazil, China and India, among others, have too much to lose to make abandoning the WTO a rational option. There are alternatives to a comprehensive package of new or amended multilateral agreements, including existing and future 'plurilateral' trade agreements, new or revised regional trade agreements covering both goods and services, and liberalized national trade laws and regulations in the WTO member nations. This book discusses these alternatives, which although less than ideal, may provide an impetus for continuing trade liberalization both among willing members and in some instances worldwide.
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Shaping and Sharing a Sustainable Global Prosperity

Author: James Bacchus

Publisher: Cambridge University Press

ISBN: 1108581544

Category: Law

Page: N.A

View: 5954

In this time of unwillingness, the right kinds of global solutions are needed now more than ever. Climate change is here and intensifying. Anxieties over economic globalization grip many in the fear of change. While these fearful have turned inward into unwillingness, the world's willing are working harder than ever for international and other cooperative solutions. James Bacchus explains why most of the solutions we need must be found in local and regional partnerships of the willing that can be scaled up and linked up worldwide. This can only be achieved within new and enhanced enabling frameworks of global and other international rules that are upheld through the international rule of law. To succeed, these rules and frameworks must for the first time see and treat economy and environment as one. The Willing World explains how best we can build the right legal structure to attain our global goals - and summon and inspire the willingness needed to do it.
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