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Author: Frederick M. Abbott
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Issues regarding the NAFTA Chapter 11 investment dispute mechanism are part of a larger context of issues that arose in connection with the transformation of the GATT dispute settlement mechanism into the WTO Dispute Settlement Understanding, and were reflected in the breakdown of the OECD negotiations on a Multilateral Agreement on Investment (MAI) and the Seattle Ministerial Conference (SMC). These issues relate to multilateral and regional governance: who is authorized to make decisions, and how are those decisions made and carried out on behalf of international society? In short, there are increasing public demands for transparency, democratic representation and account-ability that, on the one side, are legitimate and useful but, on the other side, are creating tremendous stresses on multilateral governance mechanisms. At the moment, we are reaching something of a crisis point reflecting the inability of governments to make and execute policy -- a situation that demands close attention and creative solutions. The question under NAFTA is whether we have the proper institutions to serve the ECJ-type function. It is very questionable whether we do. Are we comfortable with three private arbitrators ruling on critical questions of public health, even if their decisions only involve compensation, and not changes to legislation? I suspect not, because there are no adequate provisions for transparency, continuity or appellate review (except under New York Convention public policy exceptions). The NAFTA investment chapter attempted to provide financial risk guarantees that would be attractive to the investment community, but did not build a framework strong enough to accommodate social policies. As such, there is a need to limit how far the scope of investment-related review should extend until the juridical framework of the NAFTA is made more complete.
Author: Frederick M. Abbott
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Issues regarding the NAFTA Chapter 11 investment dispute mechanism are part of a larger context of issues that arose in connection with the transformation of the GATT dispute settlement mechanism into the WTO Dispute Settlement Understanding, and were reflected in the breakdown of the OECD negotiations on a Multilateral Agreement on Investment (MAI) and the Seattle Ministerial Conference (SMC). These issues relate to multilateral and regional governance: who is authorized to make decisions, and how are those decisions made and carried out on behalf of international society? In short, there are increasing public demands for transparency, democratic representation and account-ability that, on the one side, are legitimate and useful but, on the other side, are creating tremendous stresses on multilateral governance mechanisms. At the moment, we are reaching something of a crisis point reflecting the inability of governments to make and execute policy -- a situation that demands close attention and creative solutions. The question under NAFTA is whether we have the proper institutions to serve the ECJ-type function. It is very questionable whether we do. Are we comfortable with three private arbitrators ruling on critical questions of public health, even if their decisions only involve compensation, and not changes to legislation? I suspect not, because there are no adequate provisions for transparency, continuity or appellate review (except under New York Convention public policy exceptions). The NAFTA investment chapter attempted to provide financial risk guarantees that would be attractive to the investment community, but did not build a framework strong enough to accommodate social policies. As such, there is a need to limit how far the scope of investment-related review should extend until the juridical framework of the NAFTA is made more complete.
Author: Stepan Wood
Publisher:
ISBN:
Category : Free trade
Languages : en
Pages : 39
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Book Description
Author: Charles H. Brower
Publisher: Kluwer Law International B.V.
ISBN: 9041122850
Category : Law
Languages : en
Pages : 774
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Book Description
This initial volume collects and thoroughly indexes selected primary documents essential to a full understanding of the adjudications contained in subsequent volumes. It is designed to be a convenient, stand-along reference valuable in connection with investor-state arbitrations of all kinds. Among the documents compiled are treaties, arbitration rules, and other legal texts relied upon by arbitrators and parties. The work orders the documents in a logical, user-friendly manner, and includes a detailed index and a full bibliography.
Author: ZOE. WILLIAMS
Publisher: Oxford University Press
ISBN: 0198865945
Category :
Languages : en
Pages : 209
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Book Description
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.
Author: Kevin P. Gallagher
Publisher:
ISBN: 9780982568309
Category :
Languages : en
Pages : 90
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Book Description
Author: Takatoshi Ito
Publisher: University of Chicago Press
ISBN: 9780226386720
Category : Business & Economics
Languages : en
Pages : 430
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Book Description
There is no doubt that the open multilateral trading system after World War II was a key ingredient in the rapid economic development of the entire world. Especially in Hong Kong, Korea, Singapore, and Taiwan, exports increased dramatically both in absolute terms and as a percentage of GNP. In the 1980s, however, preferential trading arrangements (PTAs) began to emerge as significant factors affecting world trade. This volume contains thirteen papers that analyze the tensions between multilateral trading systems and preferential trade arrangements and the impact of these tensions on East Asia. The first four chapters introduce PTAs conceptually and focus on the unique political issues that these agreements involve. The next five essays present more direct empirical analyses of existing PTAs and their economic effects, primarily in East Asia. The last four papers concentrate on the outcomes of individual East Asian nations' trading policies in specific instances of preferential agreements.
Author: Jennifer Clapp And Peter Dauvergne
Publisher: Academic Foundation
ISBN: 9788171885558
Category :
Languages : en
Pages : 360
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Book Description
Author: Sergio Puig de la Parra
Publisher:
ISBN:
Category : Dispute resolution (Law)
Languages : en
Pages : 160
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Book Description
Author: Ricardo Grinspun
Publisher: Springer
ISBN: 1349133256
Category : Business & Economics
Languages : en
Pages : 345
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Book Description
Analyzes the economic, social, political and environmental implications of NAFTA from a range of critical perspectives. The chapters, unified by a sceptical view of the management of economic integration in North America cover the economic strategy of Mexico, Canada-US trade agreement and more.
Author: José Miguel Ahumada
Publisher: Springer
ISBN: 3030107434
Category : Business & Economics
Languages : en
Pages : 253
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Book Description
This book provides a political economy perspective on Chile’s contemporary economic development, explaining the different stages of Chile’s neoliberal pattern of economic integration into the global economy from 1973 to 2015. Three key explanatory variables are considered: the evolution of business-state relations, US geopolitical interest in the region through the waves of trade agreements, and the political impact of the dynamics of inflows and outflows of financial capital. Although Chile is typically considered to be a successful case of a free market economy, this book presents an alternative narrative of Chile’s growth through using a Latin American Structuralist political economy perspective. While it recognises the positive results in terms of growth, it also emphasises the lack of dynamic sources for long-term development, which embeds the economy into short-term booms followed by periods of stagnation.
