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Investment Law before Arbitration

Hepburn, J; Paparinskis, M; Poulsen, LNS; Waibel, M; (2020) Investment Law before Arbitration. Journal of International Economic Law , 23 (4) pp. 929-947. 10.1093/jiel/jgaa037.

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Investment law was not always about investor–state arbitration. Based on British and German archival materials from the Cold War, this paper shows how aims and priorities in the investment treaty regime changed over time. We find important differences in the role and relative importance of different legal rules then and now. Most notably, national treatment and free transfer clauses were key in early investment law, whereas fair and equitable treatment was regarded as relatively unimportant. At the same time, early drafters did anticipate some of the most contentious issues in modern investment law, including treaty shopping, shareholder protection, and the ‘no greater rights’ proviso.

Type: Article
Title: Investment Law before Arbitration
DOI: 10.1093/jiel/jgaa037
Publisher version: https://doi.org/10.1093/jiel/jgaa037
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of Laws
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Political Science
URI: https://discovery.ucl.ac.uk/id/eprint/10113836
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