The Political Economy of the Investment Treaty Regime
Their book dispassionately synthesizes the available legal, economic, and political literature relevant to understanding the investment treaty regime's oft-proclaimed “legitimacy crisis.” It seeks to supply lawyers needing political context and political scientists needing legal knowledge with the unfiltered facts required to assess whether such a “crisis” exists and, if so, what the ways forward might be.
Professor Jose Alvarez, New York University
Amidst a sea of conflicting counsel comes a balanced yet hard punching analysis of the international investment treaty regime. With incisive analysis from the perspectives of economics, law and political science, the authors deliver a singularly important work of clarity at a critical time for global economic order. With as much a domestic perspective as an international one, the authors illuminate highly politicised questions with a fairness that is refreshing. As nationalist tendencies rise in several corners of the globe, this volume is must read for policymakers.
Professor David D. Caron, member of The Iran-United States Claims Tribunal
This is the essential introduction to the field that we have been waiting for: a comprehensive account of the international investment regime that integrates law with economic theory and political analysis. The authors have produced a seamless interdisciplinary study, laying out the state of knowledge on investment treaties in clear and accessible language, while pointing the way for future research. I expect that it will become a standard resource for students, scholars, and participants in the investment regime. Highly recommended!
Professor Tom Ginsburg, University of Chicago
This is a unique book on the political economy of investment treaties. It combines the rigor of academic research with the exploration of a highly salient public policy debate. By stepping back from the details of investment treaties and arbitrations, the authors construct a compelling argument on how the structure and implications of these collection of treaties and rulings create an “investment treaty regime”. This is a must read for anyone interested in the study of foreign direct investment or how globalization shapes the policies of nation-states.
Professor Nathan M. Jensen, University of Texas at Austin
The intense debates on investment arbitration and investment treaty regimes often provide more heat than light. Both supporters and detractors refer to conflicting studies and “alternative facts” in ways that makes it hard for those not already committed to make up their minds. The authors of this work have taken a hard look at the political economy of foreign investment and have been able to produce the most expansive fact-based background study combining the relevant legal, political and economic aspects. Their point has not been to provide advocacy for this or that position but to assist experts and decision-makers to form their views by reference to a realistic assessment of the relevant arguments. This is the best study of the functioning and effects of investment regimes to date.
Professor Martti Koskenniemi, University of Helsinki
Political Economy is a brainy book – it is one for scholars and thinkers. It is a book for those who want to get a sense of what the big debates are and what the scholarly literature has to say about them. Moreover, it is of a different breed than all of the competition. ... One can safely predict that, as the regime will continue to attract similar questions both empirical and normative, the book will be a reference point for debates moving forward.
Professor David Schneiderman, University of Toronto
A balanced and accessible study of the Investment Treaty Regime that will advance the global debate over foreign investors' role in economic, political and legal development. It clarifies complex issues, introduces non-specialists to a key institution, and proposes an ambitious agenda for future research.
Professor Susan Rose-Ackerman, Yale University