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International Investment Law and Comparative Public Law (Hardcover, New)
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International Investment Law and Comparative Public Law (Hardcover, New)
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Investment treaty arbitration has a hybrid nature combining public
international law (as regards its substance) with elements of
international commercial arbitration (mainly as regards procedure).
However, in essence and function it deals with a special,
internationalised form of judicial review of governmental conduct
that is more akin to the judicial control of governmental action
provided for by national administrative and constitutional law than
to either classic inter-state dispute resolution or international
commercial arbitration. This has been recognised in some academic
writing and several awards, where reference to national
administrative law concepts and principles of international
law-based judicial review of governmental action, such as
international trade or human rights law, is used to help specify
and apply the open-ended concepts of investment treaties. In-depth
conceptualization is however often lacking. The current study is
the first, pioneering effort to bring these under-developed ad hoc
references to comparative and international administrative law
concepts into a deeper theoretic and systematic framework. The book
thus intends to develop a 'bridge' between treaty-based
international investment arbitration and comparative administrative
law on both a theoretical and practical level. The major
obligations in investment treaties (indirect expropriation, fair
and equitable treatment, national treatment, umbrella/sanctity of
contract clause) and major procedural principles will be compared
with their counterpart in comparative public law, both on the
domestic as well as international level. That 'bridge' will allow
international investment law to benefit from the comparative public
law experience, which could enhance its legitimacy, its political
acceptance, and its ability to develop more finely-tuned
interpretations of central treaty obligations.
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