Since the beginning of the decade, international arbitral tribunals have struggled unsuccessfully to define the obligation of “fair and equitable treatment” required by the vast majority of the world's 2,600 bilateral investment treaties (BITs). Although by the end of 2008 more than fifty...

Consistency in decision-making is generally considered to be a good thing. It is largely considered to be a paradigm of good decision-making. Investment arbitrators often rely on this idea to cite prior cases (precedents, in a non-technical meaning), and follow some of them. But is consistency...

Investment treaties currently address two conceptually distinct economic problems. The first is dynamic inconsistency of host state policy – i.e. the possibility that a host state will offer attractive conditions to new foreign investment and then renege on the bargain once the investment has...

A significant and growing amount of foreign investment is made by State-owned entities (SOEs). Given that development, the issue of whether disputes concerning such investment constitute investor-State disputes falling within, or State-to-State disputes falling outside of, the scope of...

Contractual joint ventures, sometimes also called as "consortiums", where several participants, without creating a new entity, unite their personal efforts and material resources with a view of achieving a certain common goal, remain a popular organizational form of large-scale international...

The paper implementing the imperfect competitive equilibrium model, increasing returns to scale, the coordination failure problem and the learning-by-doing argument discusses the economic efficiency of local content requirements (LCRs). It is shown that the LCRs are economically unjustifiable...

Using the international investment regime as its point of departure, the paper introduces notions of bounded rationality to the study of economic diplomacy. Through a multi-method approach, it shows that developing countries often ignored the risks of bilateral investment treaties (BITs) until...

The article reviews Constitutionalizing Economic Globalization by David Schneiderman. In the book, Schneiderman examines the relationships between international investment rules and constitutional principles of liberal democracy and identifies how arbitrators have interpreted investment treaties...