Investment Arbitration and State-Driven Reform: New Treaties, Old Outcomes

Author: Wolfgang Alschner
Publisher: Oxford University Press
ISBN: 9780197644386
Published In: August 2022
Format: Hardback
Jurisdiction: ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

States' efforts to reform the international investment regime have triggered an arbitral backlash. In response to shortcomings of earlier investment agreements, states concluded a new generation of investment treaties that actively balances investment protection obligations with host country policy space. These new-generation agreements are more comprehensive, more precise, and include novel features such as general public policy exceptions. This book reviews the first set of awards rendered under those agreements and finds that new treaties have produced old interpretive outcomes in investment arbitration, and undermine state-driven investment reforms.

Adopting a systemic, evidence-based, and interdisciplinary perspective, the book leverages new data that comprehensively reflects regime dynamics, employs state-of-the-art technology including legal data science to treat the text of more than 3000 investment agreements as data, and draws from a range of theoretical frameworks spanning from law and economics to complexity science. The result is a new and authoritative empirical account of the evolution and current state of the international investment regime.

Table of Cases

Introduction

Part I: State-Driven Reform

Chapter 1. Treaties as Data

Chapter 2. Change as Gap-filling

Chapter 3. Evolution as Americanization

Part II: New Treaties, Old Outcomes

Chapter 4. Reversing Innovation through MFN

Chapter 5. Overriding Differences through Custom

Chapter 6. Perpetuating Mistakes through Precedent

Part III: New Treaties as Anchor Points

Chapter 7. Forward-Looking Interpretation