The ICSID and Investor State Arbitration
Trakman and Ranieri (eds), Regionalism in International Investment Law, Oxford University Press (2013)
62 Pages Posted: 31 Mar 2016
Date Written: January 10, 2013
This chapter evaluates the criticisms levelled at the ICSID in five particular respects. First, it considers the perceived bias of the ICSID toward wealthy Western states and their investors as an ideological and normative proposition. Second, it evaluates the extent to which the processes of the ICSID incorporate this perceived bias into its institutional mechanisms. Third, it considers whether ICSID arbitration is a viable alternative to domestic courts resolving investment disputes between states and foreign investors. Fourth, it proposes ways in which the ICSID can become more transparent as a mechanism for resolving investment disputes in the face of criticism that it suffers from ideological, structural, and functional myopia. Fifth, it reflects on dispute avoidance alternatives to both arbitration and national courts in resolving investment disputes.
Keywords: ICSID, Investors, Institutional Mechanisms, arbitration, domestic courts, dispute resolution, foreign investors, transparency
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