Abstract
This chapter examines the system of ISDS and its importance in global affairs. First, the basis for the systema complex web or spaghetti bowl (as it is sometimes called) of bilateral and regional investment agreementsis outlined. Second, the authority of arbitral tribunals, and how this authority has expanded over time, is discussed. The chapter then turns to the cost of investment arbitration for states, both in hard monetary terms and in terms of the unquantifiable costs of regulatory chill. Finally, the current backlash from some states against investment arbitration is examined. The chapter concludes that the future for ISDS is not bright, as, increasingly, even the traditional champions of the system (developed countries) are beginning to question its merit
Original language | English |
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Title of host publication | Regulatory Theory: Foundations And Applications |
Editors | Peter Drahos |
Place of Publication | Canberra, Australia |
Publisher | ANU ePress |
Pages | 675-691pp |
Volume | 1 |
ISBN (Print) | 9781760461010 |
DOIs | |
Publication status | Published - 2017 |