This article considers the national treatment standard in international investment agreements as implemented by emerging market countries. It briefly explains the nature and purpose of the standard and how it has been examined by international investment tribunals. Specific examples of national...

This paper analyzes the impact of bilateral investment treaties (BITs) on sovereign bond returns of 25 emerging markets from 1993 to 2016. Under a BIT, foreign investors can use an international arbitration scheme to enforce compensation claims against the domestic government in case of direct...