Definition of Investment in Bilateral Investment Treaties of South Asian Countries and Regulatory Discretion

26 (2) Journal of International Arbitration (2009), 217-235

21 Pages Posted: 13 May 2010 Last revised: 16 Dec 2017

Date Written: December 7, 2008

Abstract

Due to the growing number of investor-state arbitrations and increasing number of Bilateral Investment Treaties (BITs) being signed, it has become important to understand the implications of BITs on host countries. In this light, this paper analyses the broad asset based definition of investment in the BITs signed by four South Asian countries, namely Bangladesh, Pakistan, India and Sri Lanka. This analysis also assumes importance because these four countries, put together, had signed 155 BITs by the end of 2007. Since the definition of investment is an important component of the investment treaties, this paper attempts to understand the implications of a broad asset based definition of investment on the regulatory discretion of these four countries. In this context, this paper also discusses the jurisprudence on the definition of investment that has emerged in the International Centre for Settlement of Investment Disputes (ICSID) cases and other international arbitration forums and its relationship with the broad asset based definition of investment which is found in most BITs.

Keywords: BIT, South Asia, India, Pakistan, Sri Lanka, Bangaldesh, Regulatory Discretion, Investment

Suggested Citation

Ranjan, Prabhash, Definition of Investment in Bilateral Investment Treaties of South Asian Countries and Regulatory Discretion (December 7, 2008). 26 (2) Journal of International Arbitration (2009), 217-235. Available at SSRN: https://ssrn.com/abstract=1601984

Prabhash Ranjan (Contact Author)

South Asian University ( email )

Akbar Bhawan
Chankyapuri
Delhi, WA
India

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