Judicial economy and moving bars in international investment arbitration

Johns, Leslie; Thrall, Calvin; Wellhausen, Rachel L.

doi:10.1007/s11558-019-09364-y

Cited by 11 publications

(6 citation statements)

References 38 publications

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“…Specifically, migrant networks hold great interest for economists because the former have the potential to promote economic integration across nations while also potentially diverting foreign investments because of prejudice (Fossati, 2019 ). Another shared interest between IB and economics is the view of supranational institutions as private efforts to supplement or counter inefficient or ill-functioning national institutions (e.g., Johns, Thrall, & Wellhausen, 2020 ; Posner, 2010 ; Talukdar & Meisner, 2001 ). These contributions are particularly important because they stress the active role of private individuals and companies in the genesis and proliferation of supranational institutions rather than focusing entirely on the passive effect of supranational institutions to govern private cross-national activity.…”

Section: Review Resultsmentioning

confidence: 99%

Beyond the nation-state: Anchoring supranational institutions in international business research

et al. 2022

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In this paper, we broaden the conceptualization of institutions beyond the nation-state and develop the concept of an institutional triality that represents two national institutional environments and the supranational level. While much of international business (IB) research has focused on national institutions and the differences between them, little attention and theorizing has been dedicated to the supranational institutions that form an integral part of the global institutional ecosystem. First, we conduct an interdisciplinary bibliometric survey on supranational institutions and a qualitative review of the central publications. Second, we initiate theory building and conceptualize supranational institutions from an IB point of view, distinguish them from related IB concepts, and discuss the conceptual properties of supranational institutions that are most relevant for MNCs. Building on these distinctions and properties, we provide a conceptual framework for understanding supranational institutions in the institutional triality. Third, we provide avenues for IB research building on the delineations, the conceptual properties, and the conceptual framework.

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Section: Review Resultsmentioning

confidence: 99%

Beyond the nation-state: Anchoring supranational institutions in international business research

et al. 2022

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“…While such disputes were initially thought to mainly arise in situations of direct expropriation such as nationalization, modern ISDS mostly addresses so-called cases of indirect appropriation. There are increasing concerns that investors employ ISDS not only when the host government is intentionally infringing their property rights, but when damage is done to their investments as a by-product of other regulatory efforts, or even strategically to deter unfavorable future policies (Wellhausen, 2016;Pelc, 2017;Johns et al, 2020;Moehlecke, 2020). For example, Argentina became the target of many ISDS-challenges due to its efforts to manage the financial crisis of early-2000s: currency devaluation and other emergency measures hit foreign investors with severe financial losses who responded through legal means.…”

Section: Introductionmentioning

confidence: 99%

Constraints and incentives in the investment regime: How bargaining power shapes BIT reform

Huikuri

2022

Rev Int Organ

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States have increasingly started to terminate and renegotiate their bilateral investment treaties (BITs). Dominant explanations have however overlooked the underlying bargaining dynamic of investment treaty negotiations. This paper argues that while states initially in a weaker negotiating position have the strongest incentives to change their existing BITs, their ability to do so is constrained by their bargaining power. Such states become more likely to demand renegotiation or exit dissatisfying BITs if they have experienced sufficient changes in their bargaining power in relation to the treaty partner. This paper identifies observable implications of the weaker states’ incentives and bargaining power constraints for adjusting their bilateral investment treaty commitments. Leveraging a panel dataset on 2,623 BITs ranging from 1962 to 2019, interaction effects between bargaining power and incentives stemming from rationalist and bounded rationality assumptions about states’ decision-making are analyzed in relation to the occurrence of renegotiations and terminations. The paper finds that change in bargaining power in relation to the treaty partner is an important factor underlying the weaker states’ ability to terminate or renegotiate BITs, contributing to the study of investment regime reform and exit from international institutions.

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“…1.But see Johns, Thrall, and Wellhausen (2019) for a critique noting how changes in the types of claims filed over time are confounded by changes in legal standards for assessing different claims.…”

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confidence: 99%

International Investment Disputes, Media Coverage, and Backlash Against International Law

Brutger

Strezhnev

2022

Journal of Conflict Resolution

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This paper puts forth a theory explaining domestic backlash against international investment law by connecting media coverage—specifically the bias in the news media’s selection of international disputes—to public opinion formation towards international agreements. To test our theory, we examine both the content and effects of the media’s reporting on international disputes, focusing on the increasingly controversial form known as investor-state dispute settlement (ISDS). We find that newspaper outlets in both the United States and Canada have a bias in favor of covering disputes filed against their home country as opposed to those filed by home country firms. Using two national survey experiments fielded in the United States and Canada, we further find that the bias in news story selection has a strong negative effect on attitudes towards ISDS and related agreements, especially among highly nationalistic individuals.

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Judicial economy and moving bars in international investment arbitration

Cited by 11 publications

References 38 publications

Beyond the nation-state: Anchoring supranational institutions in international business research

Beyond the nation-state: Anchoring supranational institutions in international business research

Constraints and incentives in the investment regime: How bargaining power shapes BIT reform

International Investment Disputes, Media Coverage, and Backlash Against International Law

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