The Political Economy of Investment Arbitration

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Zoe Phillips Williams (Associate, Associate, International Institute for Sustainable Development)

The Political Economy of Investment Arbitration

Zoe Phillips Williams (Associate, Associate, International Institute for Sustainable Development)

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English

Oxford University Press
01 December 2022

Political economy; Investment treaties & disputes; Responsibility of states & other entities; Arbitration, mediation & alternative dispute resolution

Series: International Economic Law Series

The Political Economy of Investment Arbitration asks how political institutions and actors in the host state of an investment contribute to the emergence of investor-state disputes. Combining insights from international relations and political economy, it considers two opposing explanations for investor-state disputes: shifting state preferences toward FDI, or the lack of state capacity to maintain an investment-friendly environment.

This book's overarching conclusion is that democratic institutions in host states contribute to the emergence of investor-state disputes. Phillips Williams argues that at the heart of many investor-state disputes are highly politicized distributional conflicts involving a range of domestic interest groups. Indeed, it is often pressure from these groups, whether through voting, protests or lobbying, which motivates states to take the policy decisions that are subsequently subject to investors' legal challenges. Thus, this monograph demonstrates that in the face of the potentially high costs posed by investment arbitration, governments continue to take measures which may harm investors in order to pursue specific policy goals. More importantly, these disputes are not only the result of corruption or weak rule of law, but of measures which are taken at the behest of broader interest groups and relate to clear public policy concerns.

This has important implications of our normative assessment of the regime and is highly relevant to current debates in both international law and international political economy about the relationship between investment treaties and domestic politics.

By: Zoe Phillips Williams (Associate Associate International Institute for Sustainable Development)
Imprint: Oxford University Press
Country of Publication: United Kingdom
Dimensions: Height: 240mm, Width: 164mm, Spine: 24mm
Weight: 476g
ISBN: 9780198865940
ISBN 10: 0198865945
Series: International Economic Law Series
Pages: 208
Publication Date: 01 December 2022
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

1: The Political Economy of Investment Arbitration 2: Patterns in Investor-State Disputes 3: State Capacity and Investor-State Arbitration 4: Domestic Politics and Investor-State Arbitration 5: Pacific Rim Cayman v El Salvador 6: Bilcon of Delaware Ltd. v. Canada 7: AES Summit Generation v Hungary & Electrabel v. Hungary 8: Conclusion

Zoe Phillips Williams is an International Institute for Sustainable Development Associate with the Economic Law and Policy Program and Managing Editor of Investment Treaty News. Her work focuses on several aspects of investment law and investor-state dispute settlement, including the domestic politics of investor-state arbitration, particularly in the mining sector, and the rise of third-party funding of investment arbitration. Prior to joining IISD, Zoe was a postdoctoral fellow at the London School of Economics and a contributor at Investment Arbitration Reporter. Zoe is the author of several scholarly articles and book chapters, with her most recent work on the rise of third-party funding of investment arbitration was published in the Review of International Political Economy.

Reviews for The Political Economy of Investment Arbitration

The Political Economy of Investment Arbitration discusses the complex political and social issues behind investor state dispute settlement. * Silvia Steininger, Helga Molbaek-Steensig, European Journal of International Law *