Foreign Investment, Sovereign Debt, and Human Rights

Chapter for Ilias Bantekas and Cephas Lumina (eds.), Sovereign Debt and Human Rights, OUP 2018 (forthcoming).

20 Pages Posted: 25 Jan 2018 Last revised: 21 Sep 2018

See all articles by Matthias Goldmann

Matthias Goldmann

Max Planck Institute for Comparative Public Law and International Law; Goethe University Frankfurt - Research Center SAFE; Goethe University Frankfurt - Cluster of Excellence Normative Orders; Goethe University Frankfurt

Date Written: August 24, 2018

Abstract

Foreign investment is perceived as one of the most significant factors for development and it is no accident that a key criterion for determining that an activity qualifies as an investment under the ICSID Convention is whether it contributes to the economic or other development of the host state. Investment tribunals have in recent years examined both the ambit of regulatory powers of the host state in taking measures in response to an existing debt crisis, and the impact of a negotiated sovereign debt restructuring on the rights of non-cooperative creditors. In both respects, investment tribunals have not conclusively, or unanimously, linked socio-economic rights with investment protection. This chapter examines the sovereign debt-related awards of investment tribunals and suggests how the systemic integration of investment law and human rights might prevent investment arbitration from distorting economically and socially beneficial sovereign debt restructurings and other regulatory measures in the context of sovereign debt crises.

Keywords: sovereign debt, human rights, international investment law, arbitration, socio-economic rights

Suggested Citation

Goldmann, Matthias, Foreign Investment, Sovereign Debt, and Human Rights (August 24, 2018). Chapter for Ilias Bantekas and Cephas Lumina (eds.), Sovereign Debt and Human Rights, OUP 2018 (forthcoming).. Available at SSRN: https://ssrn.com/abstract=3103632

Matthias Goldmann (Contact Author)

Max Planck Institute for Comparative Public Law and International Law ( email )

Im Neuenheimer Feld 535
69120 Heidelberg, 69120
Germany

HOME PAGE: http://www.mpil.de/ww/en/pub/organization/scientific_staff/mgoldman.cfm

Goethe University Frankfurt - Research Center SAFE

House of Finance
Theodor-W.-Adorno-Platz 3
Frankfurt am Main, 60323
Germany

HOME PAGE: http://www.safe-frankfurt.de

Goethe University Frankfurt - Cluster of Excellence Normative Orders ( email )

Germany

Goethe University Frankfurt ( email )

Theodor-W.-Adorno-Platz 3
HoF H4
Frankfurt, 60629
Germany

HOME PAGE: http://https://www.jura.uni-frankfurt.de/62222403/Goldmann

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