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Call # K3829.8 .C648 2007
Author Columbia International Investment Conference (2nd : 2007 : Columbia University)
Title The evolving international investment regime : expectations, realities, options / edited by José E. Alvarez and Karl P. Sauvant ; with Kamil Gérard Ahmed and Gabriela P. Vizcaíno
Imprint Oxford ; New York : Oxford University Press, c2011
Book Cover
 INTL  K3829.8 .C648 2007    AVAILABLE


Descript. lii, 254 p. : ill. ; 25 cm
Note Papers from the second Columbia International Investment Conference, held Oct. 30-31, 2007, at Columbia University
Includes bibliographical references and index
Subject Investments, Foreign -- Law and legislation -- Congresses
International commercial arbitration -- Congresses
Alt Author Alvarez, José E., 1955-
Sauvant, Karl P
Ahmed, Kamil Gerard
Vizcaíno, Gabriela P
OCLC # 671573441
Table of Contents
 Foreword / James Crawfordxiii
 Preface / Louis T. Wellsxv
 Editors and Contributorsxxiii
 Introduction: International Investment Law in Transition / Jose E. Alvarezxxxi
 Context: Foreign Investment and the Changing Global Economic Reality / Jeffrey D. Sachsxliii
A.Current and Future Trends in Foreign Investmentxliv
B.Economic Drivers of FDIxlvii
C.Decline of the "Superpower"xlix
D.Looking Toward the Futurel
 Concluding Remarkslii
pt. I Stakeholder Expectations in the International Investment Regime 
1.1.What Do Developing Countries Expect from the International Investment Regime? / Roberto Echandi3
A.International Investment Regime and the New Realities of Developing Countries: The Fallen Paradigm5
B.Multiple Functions of a Rule-Oriented International Investment Regime for Developing Countries10
1.External Dimension10
2.Domestic Dimension12
a."Lock-In" Effect of Domestic Reform13
b.Promotion of Greater Transparency and the Rule of Law13
c.Greater Coherence in Policy Implementation among National Agencies15
C.Is the International Investment Regime Fulfilling Its Functions?16
 Conclusions and Way Forward19
1.2.Civil Society Perspectives: What Do Key Stakeholders Expect from the International Investment Regime? / Howard Mann22
A."Civil Society" for Present Purposes22
B.Two Major Directions in Civil Society Views23
C.View Against the International Investment Law Regime23
D.View for Reform of the International Investment Law Regime25
1.Make It a Proper Public International Law Regime25
2.Purpose Must Change: Focus on Sustainable Development, Especially but not Only for Developing Countries27
3.Content Must be Fixed27
4.Arbitration Process Must be Revamped28
1.3.Regulating Multinationals: Foreign Investment, Development, and the Balance of Corporate and Home Country Rights and Responsibilities in a Globalizing World / Peter T. Muchlinski30
A.Principal Actors and Interests32
B.Current Regime of IIAs34
C.Mitigating the One-Sided Nature of IIAs37
1.UNCTAD and "Flexibility for Development"37
2.Introduction of Investor Responsibilities39
3.Putting Investor Obligations into Operation in IIAs43
4.Adapting Existing Provisions54
D.Extending IIAs to Home Country Responsibilities56
1.4.On the Perceived Inconsistency in Investor-State Jurisprudence / Stanimir A. Alexandrov60
A.Variations in Facts60
B.Variation in Treaty Terms63
C.Overstated Conflicts64
D.Place for Precedent?66
pt. II Reforming the FDI Regime: Avenues to Consider 
2.1.Considering Recalibration of International Investment Agreements: Empirical Insights / Susan D. Franck73
A.Impact of Procedural Rights: Integrity of the Dispute Resolution Process76
B.Adding Empiricism: Statistical Analysis to Assess Integrity of Procedural Investment Rights and Arbitration Outcomes78
1.Empirical Research Questions78
a.Development Status and Winning Investment Treaty Cases78
b.Development Status and Amounts Awarded in Investment Treaty Arbitration79
3.Results of the Empirical Analyses80
a.Winning/Losing Investment Treaty Arbitration and Development Status81
i.OECD Status and Winning Treaty Cases81
ii.World Bank Status and Winning Treaty Cases81
b.Amounts Awarded in Investment Treaty Arbitration and Development Status82
i.OECD Status and Amounts Awarded82
ii.World Bank Status and Amounts Awarded83
a.Overall Preliminary Results84
b.Potential Limitations85
c.Interpreting Development Status87
i.Impact of OECD Status on the Outcome87
ii.Impact of World Bank Status on the Outcome87
C.Synthesis of Research Results and the Implications for Investment Agreements89
2.2.All Clear on the Investment Front: A Plea for a Restatement / Petros C. Mavroidis95
 Introductory Remarks95
A.Trade and Investment: Hand in Hand96
B.Some Groundwork that was Never Done (A Plea for a Restatement)101
 Concluding Remarks103
2.3.Legal Developments in U.S. National Security Reviews of Foreign Direct Investment (2006-2008) / John Cobau104
A.U.S. Foreign Direct Investment Policy104
B.Concerns with the U.S. Investment Review Process107
C.Reforms to the U.S. Investment Review Process110
D.National Security116
2.4.Challenges and Prospects Facing the International Centre for Settlement of Investment Disputes / Nassib G. Ziade120
B.Challenges in Regard to the Independence and Governance of ICSID121
C.Challenges in Regard to ICSID's Growing Caseload122
D.Challenges from the Institutional Perspective123
E.Challenges in Regard to a Growing Jurisprudence123
 Concluding Remarks124
2.5.Changing Political Economy of Foreign Investment: Finding a Balance Between Hard and Soft Forms of Regulation / Sarianna M. Lundan125
A.Sovereignty at Bay in the Digital Economy127
B.Regulating Foreign Investment131
1.Restrictions on FDI in Strategic Industries132
2.Case of Extraterritoriality: How Might Home/Host Differences be Reconciled?135
a.Cross-Border Competition Issues136
b.Responsibility for Human Rights Violations138
C.Social Responsibility and Multinational Enterprises140
1.Business Case for Social Responsibility140
2.Self-Regulation and Regulation142
 Conclusions: Toward a New System of Multilateral Governance148
2.6.Multilateral Approaches to Investment: The Way Forward / Rainer Geiger153
A.Lessons from the MAI157
1.What Was Achieved?158
2.What Went Wrong?158
3.What Remains?160
B.Considerations for a New Multilateral Approach160
1.Codification of International Investment Law161
a.Traditional Core Elements162
i.Entry and Establishment162
ii.National Treatment/Most Favored Nation (MFN)162
iii.Investment Protection163
iv.Right to Regulate164
2.New Disciplines and Other Innovative Features164
3.Investor-State Dispute Settlement164
a.Procedural Approaches Toward Codification165
b.Creation of a Permanent Adjudicatory Body for Investment Disputes166
c.Advisory Facilities for Treaty Negotiations and Dispute Settlement170
2.7.Future of International Investment Law: A Balance Between the Protection of Investors and the States' Capacity to Regulate / Brigitte Stern174
A.Is There a Crisis in the System of International Investment Arbitration?175
1.Unilateral Act---a Law---of a State Has Been Found to Contain the State's Consent in Writing: The Pyramids Case (SPP v. Egypt)176
2.Bilateral Treaty on the Protection of Investments Has Been Found to Contain the State's Consent in Writing: The AAPL v. Sri Lanka Case and the AMT v. Congo Case178
B.Possible Backlash to the Success of Investment Arbitration181
C.Respective Roles of the Different Actors of the International Investment Arbitration System186
1.Role of Arbitrators186
2.Role of NGOs187
D.Necessity of a Balancing of Interests189
2.8.International Investment Rulemaking at the Beginning of the Twenty-First Century: Stocktaking and Options for the Way Forward / Joachim Karl193
A.Stocktaking of the Existing IIA Universe194
1.Global IIA Network Continues to Grow194
2.Increasing Complexity of the IIA Universe194
3.Investment Arbitration on the Rise196
4.Stronger Role of Developing Countries196
5.Evolving Policy Environment for Foreign Investment197
B.Challenges for Future International Investment Rulemaking198
1.Systemic Challenges199
a.Atomized Structure of the IIA Universe199
b.Coherence and Consistency199
c.Looking Beyond IIA-Related Matters200
d.Implications of Rising Investment Arbitration200
2.Challenges of Strengthening the Development Dimension201
3.Challenges of Capacity202
4.Challenges Resulting from a Changing Policy Environment for FDI203
5.Options for the Way Forward204
a.Case for Renewed Multilateral Efforts204
b.Options for Multilateral IIA-Related Instruments205
i.Guidelines for Addressing the Development Dimension in IIAs206
ii.Set of Multilaterally Agreed Voluntary Principles on Investment207
iii.Model Agreement208
iv.Multilateral Framework for Investment208
c.Need for a Multilateral Forum on IIA Matters208
pt. III Report of the Rapporteur 
3.1.Improving the International Investment Law and Policy System Report of the Rapporteur Second Columbia International Investment Conference: What's Next in International Investment Law and Policy? / Andrea K. Bjorklund213
A.Challenges to the "Legitimacy" of Investor-State Arbitration215
1.Investment Arbitration and Globalization216
a.Crisis in Investment Arbitration?217
b.Challenges to the Legitimacy of Investment Arbitration218
i.Capture of the System by the North?218
ii.Rejection of the System by the North?219
iv.Divergent Decisions220
v.Appellate Body?221
vi.Specialized Demands on the Investment Arbitration Regime223
B.Way Forward225
2.Balancing Investors' Rights with Responsibilities229
3.Investments Are Not All Alike; Host Countries Are Not All Alike---Developing a More Nuanced Approach to Regulation of Investment231
4.Capacity Building233
a.Resource Centers for Disputants233
b.Education and Research235
5.Evolving Regime with Revolving Actors236
6.Applicable Law238
a.Adding Sustainable Development Principles to Investment-Related Obligations238
i.Tribunal Development of Legal Principles239
ii.Developing Soft-Law Instruments240
iii.Adding New Perspectives242