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Full-Text Articles in Law
Crisis, Continuity, And Change In International Investment Law And Arbitration, Valentina Vadi
Crisis, Continuity, And Change In International Investment Law And Arbitration, Valentina Vadi
Michigan Journal of International Law
The dialectic between continuity and change lies at the heart of international law, which seeks to foster peaceful, just, and prosperous relations among nations. International law endeavors to govern the future by applying, in the present, norms that are inherited from the past. Nonetheless, everything flows and in an ever-changing world, some change is needed within the international legal system to ensure its stability especially in time of crisis. Not only can crises constitute means for the development of international law, but they can test, undermine or ultimately buttress the structure of international law. This article explores the connection between …
Against Balancing: Revisiting The Use/Regulation Distinction To Reform Liability And Compensation Under Investment Treaties, Jonathan Bonnitcha, Emma Aisbett
Against Balancing: Revisiting The Use/Regulation Distinction To Reform Liability And Compensation Under Investment Treaties, Jonathan Bonnitcha, Emma Aisbett
Michigan Journal of International Law
Investment treaties generate mutual benefits for host states and foreign investors to the extent that they discipline opportunistic conduct by host states. Investment treaties do not necessarily generate mutual benefits insofar as they constrain states’ ability to respond to new information or to change their policy priorities. In a companion paper, we use the tools of law and economics to formalize and clarify the relationship between problems of opportunism on the one hand, and new information and shifts in policy priorities on the other. On this basis, we develop a proposal to reform the legal principles that govern liability and …
Do Investment Treaties Prescribe A Deferential Standard Of Review, Anna T. Katselas
Do Investment Treaties Prescribe A Deferential Standard Of Review, Anna T. Katselas
Michigan Journal of International Law
The dramatic rise in foreign investment in recent decades has brought with it a corresponding increase in the number of bilateral investment treaties (BITs) and, in turn, the number of international investment disputes arising under those treaties. Investment treaty arbitration is the predominant method used to settle those disputes and has certain advantages for both foreign investors and host states compared to available alternatives, but it can tread on delicate issues typically within the domaine rieservd of states. The concern about due regard for sovereign interests in this context is far from purely academic. In the past twenty years, the …
Double Tax Treaties: An Introduction, Reuven S. Avi-Yonah
Double Tax Treaties: An Introduction, Reuven S. Avi-Yonah
Book Chapters
The existing network of more than 2,500 bilateral double tax treaties (DTTs) represents an important part of international law. The current DTTs are all based on two models, the Organisation for Economic Co-operation and Development (OECD) and United Nations (UN) model DTTs, which in turn are based on models developed by the League of Nations between 1927 and 1946. Despite some differences that will be discussed below, all DTTs are remarkably similar in the topics covered (even the order of articles are always the same) and in their language. About 75% of the actual words of any given DTT are …
China's Acquisitions Abroad - Global Ambitions, Domestic Effects, Nicholas C. Howson
China's Acquisitions Abroad - Global Ambitions, Domestic Effects, Nicholas C. Howson
Articles
In the past year or so, the world has observed with seeming trepidation what appears to be a new phenomenon-China's "stepping out" into the world economy. The move, labeled the "Going Out Strategy" by Chinese policy makers, sees China acting in the world not just as a trader of commodities and raw materials, or the provider of inexpensively-produced consumer goods for every corner of the globe, but as a driven and sophisticated acquirer of foreign assets and the equity interests in the legal entities that control such assets. The New Yorker magazine, ever topical and appropriately humorous, highlighted this attention …
Globalization, Law And Development: Introduction And Overview (Globalization, Law And Development Conference), Michael S. Barr, Reuven S. Avi-Yonah
Globalization, Law And Development: Introduction And Overview (Globalization, Law And Development Conference), Michael S. Barr, Reuven S. Avi-Yonah
Articles
The current period of globalization (defined loosely as increasing global economic integration), which began with the liberalization of exchange and capital controls and lowering of trade and investment barriers in the 1980s, is not the first time the world got economically smaller. The period from 1870 to the outbreak of World War I in 1914 was by some measures (such as the percentage of GNP in developed countries derived from overseas investment, and labor migration) marked by more extensive globalization than the post-1980 one. This earlier globalization came to a halt with the hostilities of World War I, followed by …
National Regulation Of Multinational Enterprises: An Essay On Comity, Extraterritoriality, And Harmonization, Reuven S. Avi-Yonah
National Regulation Of Multinational Enterprises: An Essay On Comity, Extraterritoriality, And Harmonization, Reuven S. Avi-Yonah
Articles
Despite the economic importance of multinational enterprises ("MNEs"), there is a surprising paucity of law governing foreign direct investment ("FDI"), especially in comparison with the abundance of law governing trade. There is no multilateral legal arrangement governing FDI that is similar to the General Agreement on Tariffs and Trade ("GATT"), no organization similar to the World Trade Organization, and almost no courses in law schools on FDI law. The goal of this Article is to begin to remedy this state of affairs by proposing a conceptual model for analyzing the application of the national laws of home and host countries …
Joint Ventures And The Law Of International Claims, Richard B. Lillich
Joint Ventures And The Law Of International Claims, Richard B. Lillich
Michigan Journal of International Law
Joint ventures are one of the most remarkable post-World War II international business developments. Although the late Professor Friedmann noted in 1971 that they were becoming "the most important form of foreign investment in the developing countries of Africa, Asia and Latin America," "only within the last two decades has the joint capital venture received more than scant attention." Now, whether one is interested in establishing a "minority joint venture," in which the foreign investor holds less than fifty percent of the equity in the joint enterprise and the host country the majority interest, or a "multipartite joint venture," in …