Substantive Protection under Investment Treaties provides the first systematic analysis of the consequences of the substantive protections that investment treaties provide to foreign investors. It proposes a new framework for identifying and evaluating the costs and benefits of differing levels of investment treaty protection, and uses this framework to evaluate the levels of protection for foreign investors implied by different interpretations of the fair and equitable treatment and indirect expropriation provisions of investment treaties. The author examines the arguments and assumptions of both supporters and critics of investment treaties, seeks to test whether they are coherent and borne out by evidence, and concludes that the 'economic' justifications for investment treaty protections are much weaker than is generally assumed. As such, the 'economic' objectives of investment treaties are not necessarily in tension with other 'non-economic' objectives. These findings have important implications for the drafting and interpretation of investment treaties.
The Investment Perspective revisits the ancient story of three men and the fateful gift that would shape their destinies. Compelled by their benefactor to engage in a game of chance, they are torn between two motives so old as to transcend culture, race, religion and time. Their choice and ours, when faced with the same struggle, is of such consequence as to make all other questions shrink in comparison. This book seeks to shed light on this common perplexity and to follow its ramifications to their ultimate end. While its message has sober implications, it is intended to give hope and encouragement toward a simple course which if pursued, will yield dividends of meaningfulness, significance and ultimately, joy.
This volume of collected essays by eminent scholars in the fields of International Trade and Investment have been written and edited in honour of H. Peter Gray. Over a career in economics spanning almost 40 years, Peter Gray has been a prolific writer. He has made significant contributions and syntheses in a variety of subfields in international economics; the interaction of national economics and the foreign sector, causes and results of international financial flows, the economics of foreign direct investment, the assignment of policy tools for domestic and international objectives, and the macroeconomic impact of trade policy, among others. He has directly influenced scores of graduate students who continue to carry his passion for inclusiveness of variables in the economic analysis of the causes, effects, and relative importance of shifts in domestic and international economic (and social) variables. Contributors to this volume include John Dunning, John Hagedoorn, Thomas Pugel, Ingo Walter and Gabriel Benito.
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