Jump to ContentJump to Main Navigation
The Foundations of International Investment LawBringing Theory into Practice$
Users without a subscription are not able to see the full content.

Zachary Douglas, Joost Pauwelyn, and Jorge E. Viñuales

Print publication date: 2014

Print ISBN-13: 9780199685387

Published to Oxford Scholarship Online: August 2014

DOI: 10.1093/acprof:oso/9780199685387.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 20 October 2019

Rational Design or Accidental Evolution? The Emergence of International Investment Law

Rational Design or Accidental Evolution? The Emergence of International Investment Law

Chapter:
(p.10) (p.11) 1 Rational Design or Accidental Evolution? The Emergence of International Investment Law
Source:
The Foundations of International Investment Law
Author(s):

Joost Pauwelyn

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199685387.003.0002

This chapter discusses the emergence of modern international investment law (IIL). It identifies three unique features: its decentralized composition; organic emergence; and the fact that it is highly contested but dynamically stable. It argues that IIL was not rationally designed or entered into at one given point but slowly developed over time from a series of small, historically-contingent and often accidental steps — not just by treaty or bilateral investment treaty (BIT) negotiators but also by contract drafters, international institutions and, most notably, arbitrators and litigators. Countries keep signing BITs and free trade agreements (FTAs) partly because they perceive them to be in their interest, partly because of network effects and path dependency.

Keywords:   international law, investment law, foreign investment, bilateral investment treaties, free trade agreements

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .