Investment Treaties and the Legal Imagination: How Foreign Investors Play by Their Own Rules (Hardcover)

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Foreign investors have a privileged position under investment treaties. They enjoy strong rights, have no obligations, and can rely on a highly efficient enforcement mechanism: investor-state dispute settlement (ISDS). Unsurprisingly, this extraordinary status has made international investment law one of the most controversial areas of the global economic order.

This book sheds new light on the topic, by showing that foreign investor rights are not the result of unpredicted arbitral interpretations, but rather the outcome of a world-making project realized by a coalition of business leaders, bankers, and their lawyers in the 1950s and 1960s. Some initiatives that these figures planned for did not emerge, such as a multilateral investment convention, but they were successful in developing a legal imagination that gradually occupied the space of international investment law. They sought not only to set up a dispute settlement mechanism but also to create a platform to ground their vision of foreign investment relations. Tracing their normative project from the post-World War II period, this book shows that the legal imagination of these business leaders, bankers, and lawyers is remarkably similar to present ISDS practice. Common to both is what they protect, such as foreign investors' legitimate expectations, as well as what they silence or make invisible. Ultimate, this book argues that our canon of imagination, of adjustment and potential reform, remains closely associated with this world-making project of the 1950s and 1960s.

About the Author

Nicol�s M. Perrone, Research Associate Professor, Universidad Andres Bello, Vi�a del Mar, Chile Nicol�s M Perrone is a Research Associate Professor at Universidad Andr�s Bello, Chile. He has previously taught at Durham University and Universidad Externado de Colombia. Nicol�s has been Visiting Professor at Universidad Nacional de San Mart�n, the International University College of Turin, and Universit� del Piemonte Orientale, a faculty member of the Institute for Global Law and Policy (Harvard Law School) and a Visiting Lecturer at Xi'an Jiaotong School of Law. Nicol�s has also consulted for the OECD, and worked as a legal fellow for UNCTAD.

Product Details
ISBN: 9780198862147
ISBN-10: 0198862148
Publisher: Oxford University Press, USA
Publication Date: April 11th, 2021
Pages: 272
Language: English