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Defense or cooperation between states and international investors in times of crisis?

Author

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  • Cristina Elena Popa Tache

    (Institute of Legal Research of the Romanian Academy)

Abstract

International investment is protected by international law by setting the standards of legal treatment that host state governments have committed themselves to in their investment treaties. Therefore, these standards of protection must be respected even in times of crisis, regardless of the reason that generated it, the policy of attracting and maintaining an investment climate favorable to international investment being an attribute of each state. If he does not find adequate protection or if he cannot negotiate contracts adapted to these conditions, nothing can prevent an investor from changing the direction of his business, in order to protect the investment made. On the other side of the barricade, the states raise the shields of force majeure and necessity. Of course, it is preferable for the barricade to turn into a round table of cooperation. The issue of violating one or more standards by states is one of the most debated at the moment, as international arbitration practice has decisions that oblige states to significant compensation. In my study I used as a research method the interdependent introspection, analysis and synthesis through analogies developed in a comparative method.

Suggested Citation

  • Cristina Elena Popa Tache, 2021. "Defense or cooperation between states and international investors in times of crisis?," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 11(Special I), pages 380-394, October.
    • Handle: RePEc:sja:journl:v:11:y:2021:i:special:p:380-394
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    File URL: http://www.tribunajuridica.eu/arhiva/An11vs/7.C.%20Popa%20Tache%20TJ.pdf
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    References listed on IDEAS

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    1. Cristina-Elena Popa Tache, 2021. "Legal treatment standards for international investments. Heuristic aspects," Books, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), edition 1, number 18, October.
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    Cited by:

    1. Elena Madalina PASCALAU, 2022. "Critical Analysis Of International And National Laws Redressing Past Apartheid Land Discrimination And Injustice In South Africa," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 11(1), pages 111-124, March.
    2. Elise-Nicoleta VALCU, 2022. "Óeu Invest Programó - Financing Union Mechanism Of Member States For Post-Pandemic Economic Recovery," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 11(2), pages 252-259, June.

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    More about this item

    Keywords

    crises; foreign investment; protection standards; necessity; force majeure.;
    All these keywords.

    JEL classification:

    • D25 - Microeconomics - - Production and Organizations - - - Intertemporal Firm Choice: Investment, Capacity, and Financing
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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