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The Evolution of Investment Liberalization under the recent Investment Treaties

Author

Listed:
  • Takamichi Inose

    (Professor, College of Liberal Arts and Sciences, Kitasato University)

Abstract

Investment liberalization under investment treaties is defined in terms of the expansion of the definition of investment, expansion of the scope of matters subject to substantial provisions, and expansion of the scope of matters subject to dispute settlement (scope of potential investors and damage suffered in pre-establishment activities). In particular, investment treaties and investment chapters of free trade agreements (FTAs) and economic partnership agreements (EPAs) concluded in recent years have made progress in developing substantial rules intended to lower entry barriers that obstruct investment liberalization, such as restrictions on foreign investment. However, in order to make investment liberalization more substantive, it is necessary to establish and improve institutional systems between Contracting Party States because there are limits to the pursuit of liability (damage claims) by investors using the investor-state dispute settlement (ISDS) provision, which has until now been used as a means to address the violation of investment treaties on established investment.

Suggested Citation

  • Takamichi Inose, 2020. "The Evolution of Investment Liberalization under the recent Investment Treaties," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 16(5), pages 1-19, August.
    • Handle: RePEc:mof:journl:ppr16_05_10
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    File URL: http://www.mof.go.jp/english/pri/publication/pp_review/ppr16_05_10.pdf
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    More about this item

    Keywords

    investment treaties (investment agreements); free trade agreements (FTAs); economic partnership agreements (EPAs); investment liberalization; restrictions on foreign investment; performance requirements; ISDS provision; ICSID Convention;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • 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

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