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Prospects in International Investment Law and Policy

Prospects in International Investment Law and Policy World Trade Forum

Author: Roberto Echandi; Pierre Sauvé
Publisher: Cambridge University Press
ISBN: 9781107035867
Published In: April 2013
Format: Hardback , 491 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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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

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