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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: Isidro Morales
Publisher: Palgrave MacMillan
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
In the aftermath of September 11th 2001, NAFTA has formed a strategic bloc, grounded in the securitization of trade and in the acquiescence of Canada and Mexico to a domineering US. Can a balance be resumed?"--BOOK JACKET.
Author: Stephen Clarkson
Publisher: University of Toronto Press
ISBN: 080209712X
Category : Political Science
Languages : en
Pages : 580
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Book Description
This detailed, meticulously researched, and up-to-date treatment of North America's transborder governance allows the reader to see to what extent the United States' dominance in the continent has been enhanced or mitigated by trilateral connections with its two continental partners.
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: John D. Rosero
Publisher:
ISBN:
Category : Free trade
Languages : en
Pages : 381
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Book Description
As states fiercely compete for international trade, there is growing concern about the emergence of private authority in global governance systems. States have delegated various aspects of their regulatory authority to private actors to facilitate the expansion of free trade in the global markets. This delegation of authority has generated the expansion of private international administrative law involving states. An unintentional, or perhaps intentional, consequence of this change in authority is the empowerment of private actors over states. When states seek to compete in a globalized financial market and increase foreign investment flows, investors demand protection from "unfair" state actions in exchange for their investments. As regulatory activities and investment transactions increase so often does the volume of disputes between public and private actors. The result can be the development of an effective investor-state dispute settlement mechanism. This study examines the procyclicality of investor protections and global governance issues, with particular attention to the North American Free Trade Agreement's (NAFTA) Chapter 11 on investments. The current literature on global political economy has not yet fully explored the complex interdependency between states and private actors. NAFTA established an investor-to-state dispute arbitration mechanism to deter states from unfair national treatment and even expropriation. Under this structure, private investors may file claims directly against a state for monetary damages. Unlike national courts presided over by publicly appointed or elected judges, these tribunals consist of private individuals selected by the investors and member states. This dissertation examines the expansion of private authority through NAFTA tribunals, as a case study of the accommodation accorded to firms in evolving patterns of global governance. The analysis also includes a review of relevant global political economy literature; a comprehensive analysis of newly released U.S. National Archives and White House documents related to NAFTA; an overview of the U.S.-Mexican Claims Commissions (1838-1946); and key information obtained through candid interviews with former senior U.S. and Mexican officials regarding NAFTA and its Chapter 11 tribunals.
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
