scholarly journals International Investment Law and the Public Law Analogy: The Fallacies of the General Principles Method

2018 ◽  
Vol 9 (4) ◽  
pp. 654-678
Author(s):  
Daniel Peat
2019 ◽  
Author(s):  
Alexandra Schuppli

The public discussion on the legitimacy of international investment law requires a reevaluation of the concept of state sovereignty in international investment law. The monograph sets out different concepts of an a priori precedence of the interests of the state over the interests of the investor and vice versa. Furthermore, it describes different models of reconciling these interests by way of giving the state a margin of discretion. In particular, the transfer of the margin of appreciation doctrine to international investment law, as well as the concept of empiric and normative deference, are the focus of this monograph. Finally, the author explores how investor-state arbitration achieves a reconciliation of interests by way of interpreting and applying rules of international investment law without the need to apply concepts from other legal systems. Based on these findings, the author evaluates different development trends in the drafting of investment treaties.


Author(s):  
Vadi Valentina

This chapter evaluates whether the existing legal framework adequately protect cultural heritage vis-à-vis the economic interests of foreign investors. It aims to address this question by examining recent arbitrations and proposing three principal legal tools to foster a better balance between economic and cultural interests in international investment law and arbitration. This recent jurisprudence highlights that arbitral tribunals are increasingly providing consideration to cultural concerns. Yet, the interplay between the protection of cultural heritage and the promotion of foreign direct investment in international investment law and arbitration continues to pose two main problems: one ontological, concerning the essence of international investment law and international law more generally; and one epistemological, concerning the mandate of arbitral tribunals. The chapter then considers three principal avenues that can facilitate a better balance between the public and private interests in international investment law: a ‘treaty-driven approach’; a ‘judicially driven approach’; and counterclaims.


2021 ◽  
Vol 1 (1) ◽  
pp. 113-131
Author(s):  
Maria Chiara Malaguti

Abstract In 2021, the new Italian Model Bilateral Investment Treaty has been published. It replaced the 2003 Model bit and can be considered as a significant example of the “new generation of bit s”, which try to better balance investor rights with the public prerogatives of States. The Model Treaty also introduces significant innovations as to the conduct of arbitrators and the corporate social responsibility of investors and is also aimed at coordinating Italian and European foreign investment policies. This article offers a view of this new Model bit and tries to insert it in the broader context of the proposed reforms regarding international investment law and arbitration.


Author(s):  
Prabhash Ranjan

This chapter looks at the evolution of India’s approach towards international investment law, against the backdrop of India’s overall and economic approach towards foreign investment. After independence, from the period of 1947–1965, India followed a relatively open and liberal foreign investment regime. Jawaharlal Nehru’s economic pragmatism ensured that India kept its doors open to foreign investment though the economic growth model was led by the public sector. India also consciously did not indulge in nationalization of foreign investment in total contradiction to what countries like Soviet Russia and China did. However, India turned towards the Left during Indira Gandhi’s times imposing restrictions on foreign investment. India’s approach towards international investment law, at least at the multilateral level, reflected the domestic approach towards foreign investment. At the bilateral level, India appeared more open to international law on protection of foreign investment although India did not sign a BIT during this phase.


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