El presente trabajo delinea, por un lado, el ascenso y caida del nacionalismo economico en America Latina entre 1970 y mediados de los anos ochenta y, por otro lado, las premisas fundamentales del llamado "Consenso de Washington" entre EEUU, el FMI y el Banco Mundial, el que orienta en los anos...

This article addresses jurisdiction of arbitral tribunals constituted under international investment agreements over sovereign bond related claims brought in class-action style proceedings following the decision in Abaclat v. Argentina.The year 2011 was one of impending sovereign defaults, with...

This paper examines two major risks to foreign investors: default on sovereign debt and expropriation of foreign direct investment, which we refer to collectively as "sovereign theft." Using a series of formal models, we analyze how the incentives to engage in sovereign theft vary with the state...

The two cases of Abaclat and others v. Argentina Republic and Ambiente Ufficio S.p.A. and others v. Argentine Republic have attracted much attention in the application of international investment arbitrationin sovereign debt restructuring. However, the relationship between the international...

Foreign investment is perceived as one of the most significant factors for development and it is no accident that a key criterion for determining that an activity qualifies as an investment under the ICSID Convention is whether it contributes to the economic or other development of the host...