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Iceland-UK Interconnector: A Brief Analysis of Possible Political Risk Mitigation and Dispute Settlement

Author

Listed:
  • Andri Dan Traustason

    (University of Akureyri, Iceland)

  • Hilmar Þór Hilmarsson

    (University of Akureyri, Iceland)

Abstract

The proposed interconnector between Iceland and the United Kingdom carries numerous and different types of risks for Iceland. This article focuses on political risk. Ownership of the interconnector and related infrastructure needs to be settled in a way that minimizes political risk for the Icelandic nation without sacrificing national sovereignty over its clean energy sources. A public-private partnership could use various methods to mitigate risk. International institutions, such as the Energy Charter Organization and the International Centre for Settlement of Investment Disputes (part of the World Bank Group) could provide a basis for international arbitration in the event of dispute. Other solutions, such as bilateral legal agreements and contracts for difference, are also assessed with regard to the interconnector in addition to some financing options.

Suggested Citation

  • Andri Dan Traustason & Hilmar Þór Hilmarsson, 2016. "Iceland-UK Interconnector: A Brief Analysis of Possible Political Risk Mitigation and Dispute Settlement," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 5(1), pages 66-74, February.
  • Handle: RePEc:ods:journl:v:5:y:2016:i:1:p:66-74
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    File URL: http://www.jami.org.ua/Papers/JAMI_5_1_66-74.pdf
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    References listed on IDEAS

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    1. Hilmar Þór Hilmarsson, 2015. "The Collapse of the Icelandic Banking System and the Inaction of the International Community," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 4(3), pages 156-162.
    2. Turvey, Ralph, 2006. "Interconnector economics," Energy Policy, Elsevier, vol. 34(13), pages 1457-1472, September.
    3. Anatoliy G. Goncharuk, 2015. "Food Business and Food Security Challenges in Research," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 4(4), pages 223-230, November.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Siyu Wu & Xiaosong Zheng, 2016. "An Exploratory Study of Enterprise Risk Management in Northern Europe," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 5(4), pages 280-289, November.
    2. Umit Karagozlu, 2016. "Managing Risks in Commercial Banks," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 5(4), pages 250-263, November.

    More about this item

    Keywords

    political risk; risk mitigation; cross-border investments; cross-border financing; international business;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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