International Economic Law

2013 ◽  
Author(s):  
Asif Qureshi ◽  
Xuan Gao ◽  
Jeong Ah Lee
Keyword(s):  
International Economic ◽  
Economic System ◽  
International Development ◽  
Subject Matter ◽  
Economic Governance ◽  
Economic Relations ◽  
Economic Law ◽  
International Economic Law ◽  
International Economic Relations ◽  
The Subject

In general, international economic law (IEL) is concerned with the governance of international economic relations between states as they affect individuals in a state, including in particular their relations inter se across national boundaries. As such, the principal preoccupations of IEL involve international trade, international investment, international monetary and financial law, and international development law. A traditional drive for this normative framework has been the facilitation of the optimal allocation and use of national and international resources for the development of all the people of the world. Defining IEL is a complex process involving a bundle of questions that need to be understood at the outset before any firm definition is articulated. The process involves first and foremost the “is” question: What is IEL? This question involves a consideration of the legal sources of IEL, the subject matter that is the object of IEL disciplines, and the subjects that are subject to IEL. Second, the process involves the “ought” question: How should IEL be redefined? This can be in terms of its sources, its subjects, and subject matter, even in terms of its very objectives. Third, the process involves refocusing from a global perspective to a closer, microlevel scrutiny of the subject. At this level, the questions focus on defining the sets of regimes that make up the international economic system and configuring them in relation to each other and the international economic system as a whole, including the system of IEL in the wider international order. Fourth, another subtext of the process of defining IEL involves inquiring into how international economic governance should be allocated among the state, region, and multilateral levels. Finally, the process of defining IEL is a dynamic process and involves a constant appraisal of whether international economic relations are developing in such a manner that corresponding adjustments to the definition of IEL are called for. The process of defining IEL in this manner elevates the question from a mere academic discourse to one of the most profound inquiries in international economic relations, one that is highly relevant to informing our responses to contemporary international economic problems and that is ubiquitous in all manner of national, regional, and multilateral economic governance. The approach to IEL herein is from the perspective of public international law, with a focus on the traditional preoccupations with world trade, money and finance, investment and taxation, and international development law.

scholarly journals Do the SALINI Criteria apply to the Definition of an Investment provided in Annex 1 of the 2006 and 2016 SADC Protocol on Finance and Investment? An Assessment

2020 ◽  
Vol 23 ◽  
pp. 1-33
Author(s):  
Lawrence Ngobeni
Keyword(s):  
International Economic ◽  
Subject Matter ◽  
The Other ◽  
Step Process ◽  
Economic Law ◽  
Other Hand ◽  
International Economic Law ◽  
Uniform Definition ◽  
The Subject ◽  
Definition Of

An investment is the subject matter of an investor-state dispute. Therefore there can be no such dispute if there is no investment to which the dispute relates. The challenge in this regard lies in that there is no uniform definition of an investment in international economic law, and with regard to investor-state disputes in particular. Bilateral Treaty Agreements (BITs), Treaties with Investment Provisions (TIPs), investment contracts and legislation provide different definitions of an investment. However, these definitions are not always final or sufficient, since there are different methods of assessing the existence of an investment, depending on the applicable arbitration rules. Arbitration tribunals formed in terms of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States of 1965 (ICSID Convention) follow a two-step process, which starts with a consideration of the definition of an investment in terms of the underlying regulatory instrument, followed by a consideration of the provisions of Article 25(1) of the ICSID Convention. Salini Construttori S.P.A and Italstrade S.P.A v Kingdom of Morocco is a landmark ICSID case that proposed the criteria that an investment must meet. On the other hand, investor-state arbitrations based on the UNCITRAL Rules Arbitration or other non-ICSID rules consider the definition of an investment provided in a regulatory instrument only. However, the tribunal in Romak S.A (Switzerland) v Republic of Uzbekistan held that the Salini criteria are applicable to UNCITRAL arbitration, and by implication, other non-CSID arbitrations. The 2006 Annex 1 of the SADC Protocol on Finance and Investments (SADC FIP) defines an investment as any asset group, while the 2016 Annex 1 defines an investment as an incorporated enterprise. Furthermore, the 2006 Annex 1 refers disputes to ICSID or UNCITRAL arbitration, while the 2016 Annex 1 refers disputes to the courts of host states. This article explores the responses of selected tribunals to the Salini criteria. It seeks to determine whether the Salini criteria can be applied to the 2006 and/or 2016 Annex 1, and if so, what the implications thereof are to the scope of investments that can be covered by these instruments.  

scholarly journals Ferenc Mádl and International Economic Law

2021 ◽  
Vol 2 (2) ◽  
pp. 167-179
Author(s):  
János Martonyi
Keyword(s):  
International Economic ◽  
International Law ◽  
Private International Law ◽  
Social Changes ◽  
Economic Relations ◽  
Economic Law ◽  
Procedural Law ◽  
International Economic Law ◽  
International Economic Relations ◽  
Substantive Law

Ferenc Mádl, while rising to the ranks of the outstanding Hungarian statesmen who served their country unconditionally, remained a scholar with exceptional knowledge and a unique academic life. In the 1970s, he was the first to recognise that even the broadest interpretation of the field of private international law could not cope with the expansion and transformation of international economic relations in the world and in our country. Reality had gone beyond the given framework of thought, „the facts had rebelled”, a new system and new solutions were needed. A new discipline, international economic law was born to meet the needs of theory, education and practice. The new field of law not only sensed the changes in reality and the interconnections between different areas of reality, but also anticipated the future. Decades later, Ferenc Mádl comprehensively summarised the most important legal consequences of economic, political and social changes and demonstrated the role of law in these changes. In the field of international economic relations, changes have continued to accelerate, new issues and new dilemmas have emerged, including in the area of foreign investment, where public law meets private law, international law meets national law, substantive law meets procedural law. These – and many other exciting new topics – remain best located, cultivated and taught in the field of international economic relations 'invented' by Ferenc Mádl.

Mega-Regional Trade Agreements: CETA, TTIP, and TiSA

2017 ◽  
Keyword(s):  
International Economic ◽  
Financial Services ◽  
Dispute Settlement ◽  
Economic Relations ◽  
Economic Law ◽  
Legal Perspective ◽  
International Economic Law ◽  
Regional Agreements ◽  
The One ◽  
International Experts

The contributions in this volume examine CETA, TTIP, and TiSA as prime examples of ‘mega-regional’ agreements that are central to a new orientation in international economic law in general and EU external economic relations in particular. While concentrating on CETA, TTIP, and TiSA as the main EU instruments in the worldwide turn to regional and mega-regional agreements, the book places these initiatives in the broader context of other mega-regional projects such as TPP. In the first two chapters, this book examines main motivations for negotiating mega-regional agreements and changing conceptions of international economic law. In nine further contributions, international experts examine sectoral issues such as the trade, investment, and dispute settlement disciplines envisaged in these ‘mega-regional’ agreements. Moreover, the progress made in intellectual property protection, the problems associated with data protection, disciplines on financial services, human rights, labour and environmental standards, issues of transparency and legitimacy, and the relationship between CETA, TTIP, and TiSA on the one hand and EU law on the other are analysed. Finally, four short contributions discuss fundamental questions surrounding these mega-regional agreements from an economic, a political science, and a legal perspective. The last chapter of this volume summarizes principal conclusions presented in the chapters of the book and highlights themes that recur in them.

scholarly journals POLITICAL AND ECONOMIC CONTENT OF THE THEORY OF INTERNATIONAL TRADE

2021 ◽  
Vol 118 (5) ◽  
pp. 48-65
Author(s):  
ONYSHCHENKO Volodymyr
Keyword(s):  
International Economic ◽  
Political Economy ◽  
International Trade ◽  
Trade Policy ◽  
State Level ◽  
Trade Theory ◽  
Economic Relations ◽  
International Economic Relations ◽  
The Subject ◽  
The Impact

Background. Dynamic changes in international economic relations and trade for thorough analysis and forecasting require an adequate paradigm of international trade theory, which would take into account not only economic and political factors of its development, but also the diverse civilizational context of the world community, which determines mental, social and cultural features of the development of a country. Problem research state. Problems of political economy in international trade to some extent affect the research of P. Krugman, M. Obstfeld, J. Frieden, E. Helpman, P. S. Afontsev, A. Mazaraki, T. Melnyk, V. Panchenko, N. Reznikova and others. But the structure of its methodological discourse and the subject of its research remain unclear. The aim of the articleis to clarify the political and economic discourse of the theory of international trade. Materials and methods. The materials of the research were the works of domestic and foreign specialists. In the process of preparing the article, general scientific research methods were used: historical, logical analysis, synthesis and abstraction. Results. Political economy is a normative manifestation of economic theory, which is formed under the influence of socio-economic and political concepts, the formed goals of social development. The subject of political economy of international trade – economic and socio-political relations that determine and accompany international trade and determine the goals and content of trade policy of its subjects. It is proposed to expand the mechanism of formation of relative advantages and trade policy of the country by including factors that determine not only its economic potential and specialization, but also the risks that may be caused by political decisions. It is argued that the problem of «protectionism vs liberalism» in international trade at the state level will always exist. It turns out that the problem of justice in international economic relations and trade is determined by the civilizational content of the development of countries, in which human capital plays a crucial role. Conclusion. The paradigm of political economy in international trade should be based on an expanded interpretation of relative benefits by assessing the impact of economic, social and political institutionson them, the peculiarities of national trade policies.

The Charter of Economic Rights and Duties of States (1975)

2017 ◽  
Author(s):  
C. H. Alexandrowicz
Keyword(s):  
International Economic ◽  
International Law ◽  
The Other ◽  
General Assembly ◽  
Economic Rights ◽  
Economic Relations ◽  
International Economic Relations ◽  
The Subject ◽  
Un General Assembly

This chapter focuses on the Charter of Economic Rights and Duties of States adopted by the UN General Assembly on 12 December 1974. The Charter consists of a preamble and four chapters, the most important of which are Chapter I relating to the fundamentals of international economic relations, and Chapter II on the detailed economic rights and duties of States. Chapter I contains general principles such as the sovereignty and equality of states and other principles, the adoption of which presented few difficulties to members of the United Nations Conference on Trade and Development (UNCTAD). On the other hand, the provisions of Chapter II, particularly article 2, were the subject of hard bargaining in which the negotiating states had to face some of the most controversial problems of international law in the economic field.

International Business and Commerce

2005 ◽  
Author(s):  
Deborah Z. Cass
Keyword(s):  
International Economic ◽  
International Law ◽  
Future Research ◽  
Public International Law ◽  
Economic Relations ◽  
Economic Law ◽  
International Economic Law ◽  
Traditional Sense ◽  
Definition Of ◽  
Rule Making

This article analyzes some recurrent themes in that portion of the field which is sometimes referred to as international economic law, namely public international law structures that regulate economic relations and exchange between states, with a primary emphasis upon trade. It suggests that six features characterize current legal scholarship on international economic law relating to business and commerce: a focus on institutions and on constitutions as a means to enhance the authority and legitimacy of the rule-making order; an interdependence with wider scholarship about globalization; a general consensus about the benefits of liberalization and the international economic law framework which supports it, punctuated by occasional critique; a concentration on regulation rather than ‘law’ in the traditional sense; a fixation with the problem of definition of its own scope; and a belief in its transformative nature capable of facilitating improvements in the legal order generally. The aim of this article is to describe and analyse the broad contours of each of these features before critiquing them and suggesting some possible avenues of future research.

The role of tourism in Slovenia's strategy of international economic relations

1997 ◽  
Vol 3 (1) ◽  
pp. 1-8
Author(s):  
Vito Bobek
Keyword(s):  
International Economic ◽  
Sustainable Tourism ◽  
Environmental Benefits ◽  
Economic Relations ◽  
International Economic Relations ◽  
The Subject ◽  
The Law ◽  
Global Planning

This paper explores the idea of sustainable tourism as a criterion for long-term global planning that takes the economic, sociocultural and environmental benefits of tourist products into account. The paper also discusses what Slovenia’s strategy of international economic relations, together with the Law on tourist activities have contributed to the subject.

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