INVESTOR-STATE DISPUTE RESOLUTION REFORM AND INSTITUTIONAL DESIGN THEORY
Keywords:
Keywords: Investment, home country, host country, the investor-state dispute settlement (ISDS) system, the ICSID Convention, tribunal, jurisdiction.Abstract
Abstract: In this article, the Investor-State Dispute Settlement (ISDS) system reduces the risks arising from the implementation of the terms of the agreement concluded between the investor and the host state, mechanisms for determining the rights of investors in each other's territories, the role of international courts in resolving international disputes, disputes the theory of institutional design of international forums for solving is analyzed. The rationale for creating better outcomes reforms and designs for the ISDS system will be explored.
References
BIBLIOGRAPHY:
https://www.europarl.europa.eu/RegData/etudes/BRIE/2015/545736/EPRS_BRI(2015)545736_EN.pdf
https://www.europarl.europa.eu/RegData/etudes/BRIE/2015/545736/EPRS_BRI(2015)545736_EN.pdf
Other important mechanisms include ad hoc tribunals under UNCITRAL rules or the International Chamber of Commerce.
Pohl, Mashigo, and Nohen, Dispute Settlement Provisions in International Investment Agreements: A Large Sample Survey, 17.
See Rule 3 of the ICSID Rules for Arbitration Proceedings, available online at https://icsid.worldbank.org/ICSID/StaticFiles/basicdoc/CRR_English-final.pdf
Dolzer R, Schreuer C, op cit., pp. 278-286.
According to Joachim Pohl, Kekeletso Mashigo, and Alexis Nohen, Dispute Settlement Provisions in International Investment Agreements: A Large Sample Survey, OECD Working Papers on International Investment (Paris: OECD, 2012), 11, http://www.oecd.org/daf/inv/investment-policy/WP-2012_2.pdf, over 70% of recent investment treaties explicitly mention domestic judicial review as a dispute settlement mechanism.
See Howse (n 3).
See also WDR, 25.
Broude (n 7) 1144.
See also Posner and Yoo (n 1) 21
In their review of ca. 1600 BITs, Pohl, Mashigo, and Nohen, Dispute Settlement Provisions in International Investment Agreements: A Large Sample Survey find only 8% contain a requirement that an investor must resort to the domestic court system before initiating an ISDS procedure.
