The Emerging Global Right to Investment: Understanding the Reasoning Behind Foreign Investor Rights
Forthcoming in the Journal of International Dispute Settlement
25 Pages Posted: 21 Sep 2017
Date Written: September 20, 2017
The international investment regime is probably the most controversial area of international law today. This article argues that looking at the interpretation of foreign investor rights can help us to better understand this regime and the challenges it poses to states and local actors. Relying on property and contract law theory, this article shows that the arbitral interpretation of foreign investor rights privileges wealth maximization over propriety. This leads arbitrators to draw on particular theories of property and contractual reliance. The analysis of these interpretative moves brings to the front crucial normative and distributive implications of the international investment regime.
Keywords: International Investment Law, ISDS, Foreign investor rights, Transnational Law, Property
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