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 (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 January 2022

Building Legitimacy Through Interpretation in Investor-State Arbitration: On Consistency, Coherence, and the Identification of Applicable Law

Building Legitimacy Through Interpretation in Investor-State Arbitration: On Consistency, Coherence, and the Identification of Applicable Law

Chapter:
(p.257) 9 Building Legitimacy Through Interpretation in Investor-State Arbitration: On Consistency, Coherence, and the Identification of Applicable Law
Source:
The Foundations of International Investment Law
Author(s):

Jürgen Kurtz

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199685387.003.0010

This chapter examines the legitimacy deficit at the core of international investment law. It argues that arbitral adjudication has the potential to alleviate this problem so long as arbitrators are attuned to the fact that they are agents of the contracting states parties rather than independent trustees of the values encapsulated by the investment treaty regime. If arbitrators exercise their authority in line with immediate state preferences and objectives, then the legitimacy of the regime will be strengthened over time. Ensuring the correct identification of applicable customary international law to supplement the open-textured investment protection obligations would be another strategy. There is a latent potential in arbitral adjudication to strengthen the legitimacy of international investment law but it has fallen short of achieving this objective to date.

Keywords:   international investment law, investor-state arbitration, dispute resolution, bilateral trade agreements, arbitral adjudication

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 .