Legitimacy, Evolution, and Growth in Investment Treaty Arbitration
55 Pages Posted: 17 Dec 2015 Last revised: 19 May 2020
Date Written: February 1, 2015
Abstract
The legitimacy debates surrounding investment treaty arbitration are intensifying. At the same time, the number of claims filed continues on a growth trajectory. Some commentators believe that the practice of investment treaty arbitration will evolve over time; and as the regime evolves, many - if not all - of the its claimed legitimacy deficits will be resolved. This Article will test this evolutionary thesis by empirically evaluating investment treaty arbitration cases that have been fully or partially resolved in the last three years (September 2011 through September 2014) in order to assess the extent to which the regime is - in fact - evolving and whether the empirical evidence supports or contradicts many of the legitimacy critiques currently lodged against the regime. Special attention will be placed on assessing issues of diversity and the fair distribution of claims.
Keywords: Legitimacy, Evolution, Growth, Investment Treaty Arbitration
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