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The Foundations of International Investment LawBringing Theory into Practice$
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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

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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: 17 January 2022

Sovereignty in Foreign Investment Law

Sovereignty in Foreign Investment Law

(p.317) 11 Sovereignty in Foreign Investment Law
The Foundations of International Investment Law

J.E. Vinuales

Oxford University Press

This chapter examines the notion of sovereignty in foreign investment law. It first sets out the idea that sovereignty is not a single legal concept but, rather, a mosaic of actionable legal concepts of varying density and legal nature that seek to express the pre-eminent position of the state as a unit of social organization. This concept is then applied to the analysis of the two actionable expressions of sovereignty frequently invoked in foreign investment disputes: the police powers doctrine and necessity/emergency clauses. Finally, the chapter presents some conclusions on proper place of sovereignty in foreign investment law, and how to achieve it through research into so far neglected areas; a better integration of customary international law; and some recalibration of available concepts in the light of the concepts used in other legal contexts.

Keywords:   international investment law, foreign investment disputes, police powers, necessity clause, emergency clause

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