There has been a pervasive failure by investment tribunals to grasp the singularly compensatory nature of moral damages awarded to investors. Critically, this failure to distinguish moral damages from other forms of reparation such as satisfaction and restitution, never mind punitive damages,...

This paper examines the influence of political risk guarantees of bilateral investment treaties on debt and equity flows using panel data on middle income countries for the period 1984-2011. Adopting system GMM methodology, the paper empirically finds that ratified bilateral investment treaties...

The International Centre for Settlement of Investment Disputes is an intergovernmental organisation at the core of the system of investor-state dispute settlement (ISDS). ICSID is busier than ever with the number of cases pending at its historical maximum. However, the legitimacy of the system...

Decisions by arbitral tribunals in investment treaty cases do not have formal precedential status. Yet certain issues recur, and prior decisions at the least provide guidance to later tribunals. The content of the most frequently invoked substantive treaty provisions - the obligations to accord...

The protection of foreign investment by treaties often clashes with the State's sovereign right to investigate economic crimes committed by investors. This article examines the different approaches taken by tribunals to questions concerning admissibility and jurisdiction, applicable law, the...

Globalization is a prominent feature of modern society. However, a by-product of increased transnational business activities, especially foreign investments, is an increased number of disputes. Consequently, investment arbitration has, in recent decades, experienced rapid development and much...

In this paper the author empirically examines whether the influence of bilateral investment treaties' political risk guarantees extends to other types of capital flows – FDI, private debt, public debt and portfolio equity. The paper uses panel data on middle and low income countries during the...

This paper is written in the context of the unravelling policy debate on Investor-State Dispute Settlement in Australia, which has become central in the Trans-Pacific Partnership negotiations. Deviating from the widely accepted international practice of resolving investment disputes through...

The UK has made major contributions to the development of investor-state dispute settlement from 1920-2020. This essay shows that the UK contributed in three ways (1) law-making, both before and after the launch of its investment treaty programme in the early 1970s; (2) dispute settlement –...