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Full-Text Articles in Law
Evaluating Financial Integration And Cooperation In The Asean, Brendan Harvey
Evaluating Financial Integration And Cooperation In The Asean, Brendan Harvey
Michigan Business & Entrepreneurial Law Review
Financial integration is less pronounced in the ASEAN than other mea-sures of economic integration. This is particularly apparent when com-pared against other regions that have undergone similar integrative efforts, such as the European Union. Cross-border trade flows, foreign-direct in-vestment, and investment in capital goods outstrip other investment flows. Regional institutional and legal structures governing these investment flows, while limited, present marked achievements towards creating an ASEAN financial community. The gap persists despite suggestions that the Asian Financial Crisis and the Global Financial Crisis (or the North Atlan-tic Financial Crisis from the Asian and Stiglitz perspective) would acceler-ate financial regionalism as …
Compensation For Expropriations In A World Of Investment Treaties: Beyond The Lawful/Unlawful Distinction, Steven Ratner
Compensation For Expropriations In A World Of Investment Treaties: Beyond The Lawful/Unlawful Distinction, Steven Ratner
Law & Economics Working Papers
When a state expropriates a foreign investment in violation of a bilateral or other treaty on investment protection and a foreign investor sues, where should a tribunal look for the standard of compensation -- to the amount specified in the treaty, to an external standard for violations of internationally law generally, or elsewhere? Investor-state tribunals have offered wildly different answers to this question, trapped in a paradigm set by the Permanent Court of International Justice ninety years ago that distinguishes between so-called lawful and unlawful expropriations. This article evaluates and criticizes the caselaw of tribunals and proposes a new framework …