A Paradigm Shift? Arbitration and Court-Like Mechanisms in Investors' Disputes
Research output: Chapter in Book/Report/Conference proceeding › Book chapter › Research
Recently, several court-like mechanisms have been considered as a substitute for investor-state arbitration. Suggestions for creating such mechanisms have been around for a long time, but new trade agreements may make court-like mechanisms for investors’ disputes a reality. This paper starts by asking whether the shift from arbitration to court-like mechanism is likely to happen and how deep is the change to dispute resolution going to be. The advantages and disadvantages of replacing ad-hoc arbitrators with court-like mechanisms are examined. Courts are more centralized than arbitrators, which gives them the ability to act in a coherent way and consider long-term consequences. However, centralization may imply a greater risk of capture by special interests and could lead to more radical legal developments than the stable system of diverse arbitration. Furthermore, compromise solutions that create numerous competing court-like mechanisms instead of a universal court may escalate the fragmentation of international law.
Original language | English |
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Title of host publication | Permanent Investment Courts : European Yearbook of International Economic Law |
Editors | Günes Ünüvar, Joanna Lam, Shai Dothan |
Number of pages | 25 |
Publisher | Springer |
Publication date | 2020 |
Pages | 1-25 |
ISBN (Print) | 9783030456832 |
ISBN (Electronic) | 9783030456849 |
DOIs | |
Publication status | Published - 2020 |
Series | European Yearbook of International Economic Law |
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ID: 260411154