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Do We Really Need Bits? Toward a Return to Contract in International Investment Law

Asian Journal of WTO & International Health Law and Policy, Vol. 3, No. 1, pp. 121-146, March 2008

27 Pages Posted: 4 Jun 2008  

Jason Webb Yackee

USC Gould School of Law

Abstract

In contrast to arguments commonplace in the extant literature promoting bilateral investment treaties (BITs) I argue that BITs are not necessary to resolve any pressing problems of credible commitment or obsolescing bargain. I point out that investors have long had the ability to credibly commit to treat investors fairly through investment contracts. I recommend that developing countries consider forgoing BITs in favor of a regime in which foreign investors are required to bargain for special treatment.

Keywords: bilateral investment, BITs, international investment law, arbitration, investment risks, BIT substitutes

Suggested Citation

Yackee, Jason Webb, Do We Really Need Bits? Toward a Return to Contract in International Investment Law. Available at SSRN: https://ssrn.com/abstract=1140624

Jason Webb Yackee (Contact Author)

USC Gould School of Law ( email )

699 Exposition Boulevard
Los Angeles, CA 90089
United States

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