Regulatory Takings in Institutional Context: Beyond the Fear of Fragmented International Law
American Journal of International Law, volume 102 (2008), pp. 475-528
95 Pages Posted: 16 May 2012
Date Written: June 30, 2008
Claims of regulatory expropriation have been raised in diverse venues adjudicating international investment disputes Although a basic consensus position has emerged on a state's power to affect private property rights without compensation to investors, the legality of such actions will and should depend on the specific regime and institutional context in which they are appraised. A uniform doctrinal answer is thus impossible and undesirable, and many worries about fragmentation of international law are misplaced.
Keywords: international law, foreign investment, expropriation, fragmentation, international institutions, ICSID, investment treaties
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