Power, Authority and International Investment Law
36 Pages Posted: 31 Jan 2006 Last revised: 15 Feb 2010
Abstract
International investment law stabilizes investment participants' behavior and expectations and investment outcomes. This law controls global decision-making by modulating power and authority between participants through four processes: (1) triggering shifts in power and authority; (2) draining power and authority from states; (3) transferring this power and authority to other decision-makers; and (4) restoring state power and authority. Some policy-makers in both powerful and less powerful states regard these shifts in power and authority as unjustified attacks on sovereignty. To minimize these policy-makers' concerns, this article recommends modifications to international investment law that will promote global well-being further.
Keywords: International arbitration, international law, international investments, development
JEL Classification: F02, F10, F30, H70, K00, O00
Suggested Citation: Suggested Citation