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Re-Politicising International Investment Law in Latin America through the Duty to Regulate Paradigm (Paperback, 1st ed. 2021)
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Re-Politicising International Investment Law in Latin America through the Duty to Regulate Paradigm (Paperback, 1st ed. 2021)
Series: European Yearbook of International Economic Law, 14
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This book offers insights into how international investment law
(IIL) has frustrated states' protection of human rights in Latin
America, and IIL has generally abstained from dealing with
inter-regime frictions. In these circumstances, this study not only
argues that IIL should be an object of contention and debate
('politicisation'). It also contends that Latin American countries
have traditionally been the frontrunners in the politicisation of
international legal instruments protecting foreign investment,
questioning whether the paradigms informing their claims'
articulation are adequate to frame this debate. It demonstrates
that the so-called 'right to regulate' is the paradigm now
prevalently used to challenge IIL, but that it is inadequate from a
human rights perspective. Hence, the book calls for a
re-politicisation of IIL in Latin America through a
re-conceptualization of how states' regulation of foreign
investment is understood under international human rights law,
which entails viewing it as an international duty. After
determining what the 'duty to regulate' constitutes in relation to
the right to water and indigenous peoples' right to lands based on
human rights doctrine, the book analyses the extent to which Latin
American countries are currently re-politicising IIL through an
articulation of this international duty, and arbitral tribunals'
responses to their argumentative strategies. Based on these
findings, the book not only proposes investment treaties' reform to
anchor the 'duty to regulate' paradigm in IIL, and in the process,
to induce tribunals' engagement with human rights arguments when
they come to underpin respondent states' defences in investor-state
dispute settlement (ISDS). In addition, drawing upon the (now
likely defunct) idea of creating a regional ISDS tribunal, the book
briefly reflects on options available to such a tribunal in terms
of dealing with troubling normative/institutional interactions
between regimes during ISDS proceedings.
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