Temporal Validity of International Investment Agreements: A Large Sample Survey of Treaty Provisions
AbstractInternational investment agreements (IIAs) almost universally define their temporal validity and thus set conditions for States’ exit from these treaties. This study presents the results of the survey of language that determines the temporal validity of 2,061 bilateral investment agreements that the 55 economies participating in the OECD-hosted Freedom of Investment Roundtables have concluded with any other economy. The paper summarises in its first part past and current treaty practice in this regard: how do States design the parameters that define the temporal validity of their treaties and the duration of the obligations contained therein? How has this design evolved over time? Do different kinds of IIAs take different approaches to this matter? Have individual States developed distinct practices or policies? The second part of the paper presents key findings that result from the analysis of treaty practice in a large number of agreements. It highlights characteristics of the provisions on temporal validity employed in IIAs; emphasises the collective engagement that results from the clauses in IIAs and the consequences of country-specific practice; and suggests questions on intriguing policy choices that a large comparative study reveals.
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Bibliographic InfoPaper provided by OECD Publishing in its series OECD Working Papers on International Investment with number 2013/4.
Date of creation: 18 Dec 2013
Date of revision:
bilateral investment treaty; foreign investment; international investment law; comparative law; international investment agreements; investment treaties; investment law; international investment;
Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
- F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
- F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
- K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
- K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process
- N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
- P45 - Economic Systems - - Other Economic Systems - - - International Linkages
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