Banking / Finance

Prospects in International Investment Law and Policy World Trade Forum

Edited by Roberto Echandi · Pierre Sauvé
Cambridge University Press April 2013

Specifications

ISBN-13
9781107035867
Publisher
Cambridge University Press
Publication
April 2013
Format
Hardback , 491 pages
Jurisdiction
International ? Countri(es) for reference only

Details

The negotiation of a patchy but burgeoning network of international investment agreements and the increasing use to which they are put is generating a growing body of jurisprudence which, while still evolving, requires closer analytical scrutiny. Drawing on many of the most distinguished voices in investment law and policy, and offering novel, multidisciplinary perspectives on the rapidly evolving landscape shaping international investment activity and treaty-making, this book explores the most important economic, legal and policy challenges in contemporary international investment law and policy. It also examines the systemic implications flowing from frenetic recent judicial activism in investment matters and advances several innovative propositions for how best to promote greater overall coherence in rule-design, treaty use and policy making and thus offer a better balance between the rights and obligations of international investors and host states.

• Provides readers with an informed discussion of the rapidly evolving field of international investment law and policy

• Analyses the main issues concerning international investment relations from a multidisciplinary perspective

• Brings together the world's leading scholars drawn from business, economics, law and political science with vast experience in the field of international investment law and policy and international trade regulation

Table of Contents

List of figures
ix
List of tables
x
List of contributors
xi
Preface
xv
List of abbreviations
xvii
1         Introduction and overview
Roberto Echandi and Pierre Sauvé
1
Part I    Current paradigms in the economics and political economy of international investment activity
11
2         Investment policies for sustainable development: addressing policy challenges in a new investment landscape
James Zhan
13
3         Foreign direct investment and development: novel challenges
Theodore H. Moran
30
4         Actors in the international investment scenario: objectives, performance and advantages of affiliates of state-owned enterprises and sovereign wealth funds
Sébastien Miroudot and Alexandros Ragoussis
51
5         Investment treaties and the globalisation of state capitalism: opportunities and constraints for host states
Lauge N. Skovgaard Poulsen
73
6         Reflections on the current paradigms of international investment activity
Gary Clyde Hufbauer
91
7         A Southern perspective on the existing investment landscape
Stephen Gelb
96
Part II   The interaction between international trade and investment regulation
103
8         On the laws of attraction: examining the relationship between foreign investment and international trade
Mary E. Footer
105
9         Investment and trade: the ‘Lottie and Lisa’ of international economic law?
Tomer Broude
139
10        International trade and investment: towards a common regime?
Debra P. Steger
156
11        Perspectives on the interaction between international trade and investment regulation
Christian Tietje
166
Part III  The challenge of fostering greater coherence in international investment law
173
12        Practical and legal avenues to make the substantive rules and disciplines of international investment agreements converge
Andrea K. Bjorklund
175
13        Consistency in the interpretation of substantive investment rules: is it achievable?
Yas Banifatemi
200
14        Coherence, convergence and consistency in international investment law
Michael Ewing-Chow
228
15        The challenge of fostering greater coherence in international investment law
August Reinisch
236
Part IV   The policy- and rule-making challenges arising from the growth in investment litigation
241
16        ICSID at the crossroads: some thoughts and recommendations for improving the dispute settlement system
Margrete Stevens
243
17        Rules for investor–state mediation: draft prepared by the International Bar Association State Mediation Subcommittee
Barton Legum, Anna Joubin-Bret and Inna Manassyan
265
18        Complementing investor–state dispute resolution: a conceptual framework for investor–state conflict management
Roberto Echandi
270
19        The growth in investment litigation: perspectives and challenges
Laurence Boisson de Chazournes
306
20        Different approaches to address challenges arising from increased investor–state litigation
Andrea K. Bjorklund
310
Part V    The quest for an adequate balance between investment protection and liberalisation and other public policy objectives
315
21        Sustainable development and international investment law: a harmonious view from economics
Anne Van Aaken and Tobias A. Lehmann
317
22        GATT Article XX and international investment law
Barton Legum and Ioana Petculescu
340
23        The inclusion of GATT Article XX exceptions in IIAs: a potentially risky policy
Céline Lévesque
363
24        Managing expectations: beyond formal adjudication
Susan D. Franck
371
Part VI   From an uneven international investment regime towards a coherent international investment system: the way forward
389
25        Coherence and consistency in international investment law
Christoph Schreuer
391
26        Perspectives for investment arbitration: consistency as a policy goal?
Rudolf Dolzer
403
27        Towards a coherent international investment system: key issues in the reform of international investment law
Peter Muchlinski
411
28        Less may be more: the need for moderation in international investment law
Marino Baldi
443
29        The way forward for the international investment regime: lessons from the past – perspectives for the future
Rainer Geiger
450
Index
457

About the Author

Roberto Echandi
The World Bank

Pierre Sauvé
World Trade Institute

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