Resistance and Change in the International Law on Foreign Investment

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ISBN: 9781107096622

Products specifications

Attribute name	Attribute value
Author	Sornarajah, M. (National University of S
Pub Date	16/04/2015
Binding	Hardback
Pages	474

Publisher: CAMBRIDGE UNIVERSITY PRES

Availability: Out of Stock

Products specifications

Attribute name	Attribute value
Tutor	2024/2025
Department	Faculty of Science, Engineering and Social Science

The attempt to create a neoliberal regime of investment protection resulted in resistance and changes in the legal rules. This book analyses the nature of those changes, considers their adequacy and explores the scope for future changes. It also considers the possibility of change in terms of resistance to power.

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Since the 1990s, conflicts within international law on foreign investment have arisen as a result of several competing interests. The neoliberal philosophy ensured inflexible investment protection given by a network of investment treaties interpreted in an expansive manner, which led to states creating regulatory space over foreign investment. However, NGOs committed to single causes such as human rights and the environment protested against inflexible investment protection. The rise to prominence of arguments against the fragmentation of international law also affected the development of investment law as an autonomous regime. These factors have resulted in some states renouncing the system of arbitration and other states creating new treaties which undermine inflexible investment protection. The treaty-based system of investment protection has therefore become tenuous, and change has become inevitable. Emphasising the changes resulting from resistance to a system based on neoliberal foundations, this study looks at recent developments in the area.