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The Political Economy of the Investment Treaty Regime

Author

Listed:
  • Bonnitcha, Jonathan

    (University of New South Wales)

  • Skovgaard Poulsen, Lauge N.

    (University College London)

  • Waibel, Michael

    (University of Cambridge)

Abstract

Investment treaties are some of the most controversial but least understood instruments of global economic governance. Public interest in international investment arbitration is growing and some developed and developing countries are beginning to revisit their investment treaty policies. The Political Economy of the Investment Treaty Regime synthesises and advances the growing literature on this subject by integrating legal, economic, and political perspectives. Based on an analysis of the substantive and procedural rights conferred by investment treaties, it asks four basic questions. What are the costs and benefits of investment treaties for investors, states, and other stakeholders? Why did developed and developing countries sign the treaties? Why should private arbitrators be allowed to review public regulations passed by states? And what is the relationship between the investment treaty regime and the broader regime complex that governs international investment? Through a concise, but comprehensive, analysis, this book fills in some of the many "blind spots" of academics from different disciplines, and is the first port of call for lawyers, investors, policy-makers, and stakeholders trying to make sense of these critical instruments governing investor-state relations.

Suggested Citation

  • Bonnitcha, Jonathan & Skovgaard Poulsen, Lauge N. & Waibel, Michael, 2017. "The Political Economy of the Investment Treaty Regime," OUP Catalogue, Oxford University Press, number 9780198719557.
    • Handle: RePEc:oxp:obooks:9780198719557
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    References listed on IDEAS

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    1. Karolina Ekholm & Rikard Forslid & James R. Markusen, 2021. "Export-Platform Foreign Direct Investment," World Scientific Book Chapters, in: BROADENING TRADE THEORY Incorporating Market Realities into Traditional Models, chapter 6, pages 111-130, World Scientific Publishing Co. Pte. Ltd..
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    4. Brian Aitken & Ann Harrison & Robert E. Lipsey, 2022. "Wages and foreign ownership A comparative study of Mexico, Venezuela, and the United States," World Scientific Book Chapters, in: Globalization, Firms, and Workers, chapter 4, pages 61-87, World Scientific Publishing Co. Pte. Ltd..
    5. Iršová, Zuzana & Havránek, Tomáš, 2013. "Determinants of Horizontal Spillovers from FDI: Evidence from a Large Meta-Analysis," World Development, Elsevier, vol. 42(C), pages 1-15.
    6. David L. Carr & James R. Markusen & Keith E. Maskus, 2021. "Estimating The Knowledge-Capital Model of the Multinational Enterprise," World Scientific Book Chapters, in: BROADENING TRADE THEORY Incorporating Market Realities into Traditional Models, chapter 5, pages 95-110, World Scientific Publishing Co. Pte. Ltd..
    7. Tomas Havranek & Zuzana Irsova, 2010. "Which Foreigners Are Worth Wooing? A Meta-Analysis of Vertical Spillovers from FDI," Working Papers 2010/03, Czech National Bank.
    8. James R. Markusen, 2001. "Commitment to Rules on Investment: The Developing Countries’ Stake," Review of International Economics, Wiley Blackwell, vol. 9(2), pages 287-302, May.
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    Cited by:

    1. Martin Kabrt, 2021. "After the BITs: The uncertain future of international investment governance," Occasional Publications - Chapters in Edited Volumes, in: CNB Global Economic Outlook - February 2021, pages 12-20, Czech National Bank.
    2. Polanco, Rodrigo, 2022. "Sustainable Development in Chilean International Investment Agreements," Papers 1376, World Trade Institute.
    3. Tuuli-Anna Huikuri, 2023. "Constraints and incentives in the investment regime: How bargaining power shapes BIT reform," The Review of International Organizations, Springer, vol. 18(2), pages 361-391, April.
    4. Christian Bellak & Markus Leibrecht, 2019. "The Association of Economic Crises and Investor-State Arbitration Cases," Department of Economics Working Papers wuwp284, Vienna University of Economics and Business, Department of Economics.
    5. Robert Basedow, 2021. "The EU's International Investment Policy ten years on: the Policy‐Making Implications of Unintended Competence Transfers," Journal of Common Market Studies, Wiley Blackwell, vol. 59(3), pages 643-660, May.
    6. Axel Berger & Wan‐Hsin Liu, 2021. "Can the G20 serve as a launchpad for a multilateral investment agreement?," The World Economy, Wiley Blackwell, vol. 44(8), pages 2284-2302, August.
    7. Rémi Bachand, 2023. "Class Struggle and International Economic Institutions: The Origins of the GATT and “Embedded Liberalism”," Politics and Governance, Cogitatio Press, vol. 11(1), pages 193-202.
    8. Tamayo-Álvarez Rafael, 2020. "The Strategic Use of International Investment Law in Colombia – Textiles: Navigating within the International Regime Complex for Development," The Law and Development Review, De Gruyter, vol. 13(1), pages 31-58, January.
    9. Johann Robert Basedow, 2022. "Why de‐judicialize? Explaining state preferences on judicialization in World Trade Organization Dispute Settlement Body and Investor‐to‐State Dispute Settlement reforms," Regulation & Governance, John Wiley & Sons, vol. 16(4), pages 1362-1381, October.
    10. Bereket Alemayehu Hagos, . "Major features of Ethiopia’s new investment law: an appraisal of their policy implications," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.
    11. Bian, Bo & Meier, Jean-Marie & Xu, Ting, 2021. "Cross-Border Institutions and the Globalization of Innovation," LawFin Working Paper Series 23, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).
    12. Tarald Gulseth Berge & Øyvind Stiansen, 2023. "Bureaucratic capacity and preference attainment in international economic negotiations," The Review of International Organizations, Springer, vol. 18(3), pages 467-498, July.
    13. Bart-Jaap Verbeek, 2022. "Embedded Neoliberalism and the Legitimacy of the Post-Lisbon European Union Investment Policy," Politics and Governance, Cogitatio Press, vol. 10(3), pages 110-120.
    14. Seungjun Kim, 2023. "Protecting home: how firms’ investment plans affect the formation of bilateral investment treaties," The Review of International Organizations, Springer, vol. 18(4), pages 667-692, October.
    15. Gertz, Geoffrey & Jandhyala, Srividya & Poulsen, Lauge N. Skovgaard, 2018. "Legalization, diplomacy, and development: Do investment treaties de-politicize investment disputes?," World Development, Elsevier, vol. 107(C), pages 239-252.
    16. Priyanka Kher & Dongwook Chun, 2020. "Policy Options to Mitigate Political Risk and Attract FDI," World Bank Publications - Reports 34380, The World Bank Group.
    17. Anne Marie Thow & Wolfgang Alschner & Faisal Aljunied, 2023. "Public health clauses in international investment agreements: Sword or shield?," Global Policy, London School of Economics and Political Science, vol. 14(2), pages 260-269, May.
    18. Enrique Boone Barrera, 2019. "Extractive Industries and Investor–State Arbitration: Enforcing Home Standards Abroad," Sustainability, MDPI, vol. 11(24), pages 1-15, December.

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