Regulatory Takings and Environmental Regulation in NAFTA's Chapter 11
AbstractNAFTAâ€™s investment treaty has led to several expropriation compensation claims from investors hurt by new environmental regulations. Expropriation clauses in international treaties solve post-investment moral hazard problems such as hold-ups. However, these clauses can interact with National Treatment clauses in a manner that hinders investment. A police powers carve-out from the definition of expropriation can be Pareto-improving and can increase the level of foreign investment.
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Bibliographic InfoPaper provided by Department of Agricultural & Resource Economics, UC Berkeley in its series Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series with number qt1qh5j6dv.
Date of creation: 20 Feb 2006
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foreign direct investment; regulatory takings; expropriation; NAFTA; National Treatment; environment; Life Sciences;
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