International Investment Law and Development: A History of Two Concepts
R Hofmann, S Schill and C Tams (eds), International Investment Law and Development: Friends or Foes (Edward Elgar, 2015), Forthcoming
Grotius Centre Working Paper 2015/045 - IEL
22 Pages Posted: 4 Mar 2015
Date Written: December 1, 2014
Since the aftermath of decolonization to the current globalization, international investment law and development have had a long common history. This paper endeavors to demonstrate that -- from a legal point of view -- international investment law has always aimed at promoting development: yesterday, economic development, today, sustainable development. Along this teleological evolution, I put forth that this regime, taken as a whole, has never sacrificed the public interests attached to the concept of the right to development and sustainable development, i.e. the environment, human rights and labour rights. To sustain this claim, this paper unravels and examines the policy objectives and challenges, the legal uncertainties and innovations that have characterized the relationship between international investment law and development in the practice of states and arbitration tribunals.
Keywords: International investment law; economic development; sustainable development; public interests; labour standards; FET; indirect expropriation
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