Description
International investment arbitration remains one of the most controversial areas of globalisation and international law. This book provides a fresh contribution to the debate by adopting a thoroughly empirical approach. Based on new datasets and a range of quantitative, qualitative and computational methods, the contributors interrogate claims and counter-claims about the regime’s legitimacy. The result is a nuanced picture about many of the critiques lodged against the regime, whether they be bias in arbitral decision-making, close relationships between law firms and arbitrators, absence of arbitral diversity, and excessive compensation. The book comes at a time when several national and international initiatives are under way to reform international investment arbitration. The authors discuss and analyse how the regime can be reformed and ow a process of legitimation might occur.
- Clarifies the ‘legitimacy’ concept and employs a framework for assessing the legitimacy of international legal institutions using empirical methods and data
- Introduces new data on international investment arbitration, arbitration actors and institutions, investment treaties, and foreign investment legislation
- Provides inter- and multi-disciplinary approaches to international investment arbitration and allows readers to obtain multiple perspectives and a broader understanding of the topic
Table of Contents
1. Introduction: The Legitimacy Crisis and the Empirical Turn, Daniel Behn, Ole Kristian Fauchald, Malcolm Langford
2. The International Investment Regime and its Discontents Daniel Behn, Ole Kristian Fauchald, Malcolm Langford
Part I. Process Legitimacy: Independence and Impartiality. 3. Testing Cognitive Bias: Experimental Approaches and Investment Arbitration Sergio Puig, Anton Strezhnev
4. The Influence of Law Firms in Investment Arbitration Runar Hilleren Lie
5. Arbitrator Challenges in International Investment Tribunals Chiara Giorgetti
6. Dissents in Investement Arbitration: On Collegiality and Individualism Daphna Kapeliuk
Part II. Process Legitimacy: Legal Reasoning. 7. Foreign Investors, Domestic Courts and Investment Treaty Arbitration Szilárd Gáspár-Szilágyi
8. Ensuring Correctness or Promoting Consistency: Tracking Policy Priorities in Investment Arbitration through Large-scale Citation Analysis Wolfgang Alschner
9. Fair and Equitible Treatment: Ordering Chaos through Precedent Florian Grisel, Meng Jia Yang
Part III. Output Legitimacy:10. The West and the Rest: Geographic Diversity and the Role of Arbitrator Nationality in Investment Arbitration Malcolm Langford, Daniel Behn, Maxim Usynin
11. Mixing Methodologies in Empirically Investigating Investment Arbitration and Inbound Foreign Investment Shiro Armstrong, Luke Nottage
12. Double Jeopardy? The Use of Investment Arbitration in Times of Crisis Cedric Dupont, Thomas Schultz, Merih Angin
13. Who has Benefited Financially from Investment Treaty Arbitration? An Evaluation of the Size and Wealth of Claimants Gus Van Harten, Pavel Malysheuski
14. Explaining China’s Relative Absence from Investment Treaty Arbitration Fredrik Lindmark, Daniel Behn, Ole Kristian Fauchald
Part IV. Legitimation Strategies. 15. Does International Arbitration Enfeeble or Enhance Local Legal Institutions? Catherine Rogers, Christopher Drahozal
16. Learning from Investment Treaty Law and Arbitration: Developing States and Power Inequalities Mavluda Sattorova, Oleksandra Vytiaganets
17. Legitimation through Modification: Do States Seek More Regulatory Space in Their Investment Agreements? Tomer Broude, Yoram Haftel, Alex Thompson.
