Today there are more than 2,500 bilateral investment treaties (BITs) around the world. Most of these investment protection treaties offer foreign investors a direct cause of action to claim damages against host-states before international arbitral tribunals. This procedure, together with the requirement of compensation in indirect expropriations and the fair and equitable treatment standard, have transformed the way we think about state liability in international law. We live in the BIT generation, a world where BITs define the scope and conditions according to which states are economically accountable for the consequences of regulatory change and administrative action. Investment arbitration in the BIT generation carries new functions which pose unprecedented normative challenges, such as the arbitral bodies established to resolve investor/state disputes defining the relationship between property rights and the public interest. They also review state action for arbitrariness, and define the proper tests under which that review should proceed. State Liability in Investment Treaty Arbitration is an interdisciplinary work, aimed at academics and practitioners, which focuses on five key dimensions of BIT arbitration. First, it analyses the past practice of state responsibility for injuries to aliens, placing the BIT generation in historical perspective. Second, it develops a descriptive law-and-economics model that explains the proliferation of BITs, and why they are all worded so similarly. Third, it addresses the legitimacy deficits of this new form of dispute settlement, weighing its potential advantages and democratic shortfalls. Fourth, it gives a comparative overview of the universal tension between property rights and the public interest, and the problems and challenges associated with liability grounded in illegal and arbitrary state action. Finally, it presents a detailed legal study of the current state of BIT jurisprudence regarding indirect expropriations and the fair and equitable treatment clause.

This book, initially an LLM dissertation at the University of Liverpool, UK, analyses the Calvo Doctrine, which culminated from propositions by Carlos Calvo (1824 – 1906). It compares this Doctrine to the Hull Formula, developed by US Secretary of State Cordell Hull during 1930s exchanges with Mexico in defence of US foreign investors’ rights. The author submits that despite their apparent contrast, much aspects of harmony exist between the Calvo Doctrine and Hull Formula, which would enhance certainty in the international law of foreign investment, thereby benefiting global investment business, jurisprudence, arbitral practice and legal academia.

Covers the entire range of the history of U.S. foreign relations from the colonial period to the beginning of the 21st century. A Companion to U.S. Foreign Relations is an authoritative guide to past and present scholarship on the history of American diplomacy and foreign relations from its seventeenth century origins to the modern day. This two-volume reference work presents a collection of historiographical essays by prominent scholars. The essays explore three centuries of America’s global interactions and the ways U.S. foreign policies have been analyzed and interpreted over time. Scholars offer fresh perspectives on the history of U.S. foreign relations; analyze the causes, influences, and consequences of major foreign policy decisions; and address contemporary debates surrounding the practice of American power. The Companion covers a wide variety of methodologies, integrating political, military, economic, social and cultural history to explore the ideas and events that shaped U.S. diplomacy and foreign relations and continue to influence national identity. The essays discuss topics such as the links between U.S. foreign relations and the study of ideology, race, gender, and religion; Native American history, expansion, and imperialism; industrialization and modernization; domestic and international politics; and the United States’ role in decolonization, globalization, and the Cold War. A comprehensive approach to understanding the history, influences, and drivers of U.S. foreign relation, this indispensable resource: Examines significant foreign policy events and their subsequent interpretations Places key figures and policies in their historical, national, and international contexts Provides background on recent and current debates in U.S. foreign policy Explores the historiography and primary sources for each topic Covers the development of diverse themes and methodologies in histories of U.S. foreign policy Offering scholars, teachers, and students unmatched chronological breadth and analytical depth, A Companion to U.S. Foreign Relations: Colonial Era to the Present is an important contribution to scholarship on the history of America’s interactions with the world.

The Function of Law in the International Community, first published in 1933, is one of the seminal works on international law. Its author, Sir Hersch Lauterpacht, is widely considered to be one of the great international lawyers of the 20th century. It continues to influence those studying and working in international law today. This republication once again makes this book available to scholars and students in the field. It features a new introduction by Professor Martti Koskenniemi, examining the world in which the Function of Law was originally published and the lasting legacy of this classic work.

This book outlines the principles behind the international law of foreign investment. The main focus is on the law governed by bilateral and multilateral investment treaties. It traces the purpose, context, and evolution of the clauses and provisions characteristic of contemporary investment treaties, and analyses the case law, interpreting the issues raised by standard clauses. Particular consideration is given to broad treaty-rules whose understanding in practice has mainly been shaped by their interpretation and application by international tribunals. In addition, the book introduces the dispute settlement mechanisms for enforcing investment law, outlining the operation of Investor-State arbitration. Combining a systematic analytical study of the texts and principles underlying investment law with a jurisprudential analysis of the case law arising in international tribunals, this book offers an ideal introduction to the principles of international investment law and arbitration, for students, scholars, and practitioners alike.