Conventional wisdom has it that the Mexican crisis of 1994-95 was "the first financial crisis of the 21st century." In this paper I argue that it may be better understood as the last financial crisis of the 19th. The crisis in Mexico exhibits striking similarities to the Baring Crisis of 1890,...

The main aim of this book is to assess the importance of international rules for foreign direct investment and the major challenges to international harmonization of those rules. Particular attention is paid to the most controversial and contentious issues with the view of appraising the...

AbstractThe following sections are included:IntroductionA framework for threat assessmentThreat IThreat IIThreat IIIA Common Approach for OECD, and BeyondThe Broader Context: Allowing the Benefits From Foreign Direct Investment (FDI) — Including FDI via Acquisitions — To Spread Around the...

AbstractThe following sections are included:IntroductionDecentralized Legal SystemTribunals as Agents of Legal HarmonizationRecognition of new binding rulesInterpreting Treaty ProvisionsPrecedent and Harmonization of Investment LawThe Limits of Harmonization by Investment TribunalsConcluding...

AbstractThe following sections are included:IntroductionScope of Mode 3 and InvestmentCommercial presenceOwned or controlledInvestment by service suppliersGATS scope with regard to investment measuresCommitments on Mode 3 service supplyGaps in Disciplines on Mode 3GATS provisions that discipline...

AbstractThe following sections are included:IntroductionArguments in Favor of HarmonizationArguments for Regulatory DiversityA Way Forward in the Debate and Negotiations of International HarmonizationTheoretical issuesWhat is not working in our attempts to harmonize trade rules?Practical...

AbstractThe following sections are included:What Is the Definition of “Public Services”? How Are They “Regulated”?Do International Investment Agreements (Whether Bilateral, Regional or Multilateral) Cover “Public Services”?Investment Liberalization and Investment Protection...

AbstractThe following sections are included:IntroductionThe Interaction of Environmental Law and FDIVertical interactionsHorizontal interactions“Diagonal” interactionsEvidence: International Investment Agreements and disputesExpropriationFair and equitable treatmentNational treatment and the...

AbstractThe inspiration for this book came from two sources: First, one cannot be but impressed by the spectacular growth of foreign investment over the last three decades — despite the imperfect regulatory frameworks in which they operate. Globalization has brought about a rapid growth of...

AbstractLike tariff liberalization — applied tariffs under domestic laws, preferential tariffs through regional trade agreements, and WTO bound tariffs — States also have three levels to liberalize investment. Domestic laws on investment are unilateral acts by a State that provide benefits...