AbstractInternational investment law has been developing for centuries. During the development process of international investment law, legal norms and principles of international investment law are evolved and shaped as sui generis nature, and separate legal regime as a branch of international law. The contemporary international investment law, according to United Nations Conference on Trade and Development data, currently, 2283 BITs and 280 other investment agreements are in force in international investment system, and high numbers of disputes are pending in different international dispute settlement bodies.
These international investment agreements are interpreted and applied by arbitrators at different investor-state dispute settlement institutions or in ad-hoc arbitrations. Different interpretations and paradoxical arbitration awards cause critics regarding consistency, coherence and uniformity issues of the international investment law regime.
Given the characteristics of international investment law regime, this thesis aims to study the institutionalisation and constitutionalisation processes of the international investment law regime. Moreover, the thesis attempts to ascertain consistent means by examining the nature of the international investment law regime and its institutionalisation and constitutionalisation processes to solve the issues associated with uniformity consistency and coherence. This thesis can also provide guidance and some recommendations that would have a chance of being carried out regarding new trends and developments of the international investment regime.
Therefore, the major concern of this research is to understand the suitability of institutionalisation and constitutionalisation to sustain more consistent, coherent and uniform international investment law regime. In the first part of the research project, the nature of international investment law and its interaction with other international law systems, definitions and the necessity of uniformity, coherence and consistency are scrutinized. The second part starts with the solutions in the literature and their overview, and then institutionalisation and constitutionalisation are discussed. In the last part of this research, the energy sector and the Energy Charter Treaty are examine as case study, trying to understand the current creation of a uniform, coherent and consistent international investment regime in the energy sector.
This thesis illustrates the nature of the international investment law regime and concepts of institutionalisation and constitutionalisation in legal perspective, as well as analysing coherence, consistency and uniformity issues of the international investment law regime. This project shows institutionalisation and constitutionalisation are developing processes in international investment law regime and they are consistent with the current global trends and developments of the international investment law regime as a branch of international law.
The thesis suggests, despite the presence of the uniformity, consistency and coherence issues in international investment law regime, the international investment regime is the compulsory element of world globalisation, and those issues may be solved via applying new approaches that are consistent with the international investment regime’s sui generis nature and its evolving process. This thesis shows institutionalisation and constitutionalisation are congruent with the sui generis nature of international investment regime and contemporary trends and developments.
|Date of Award||2018|
|Supervisor||Peter Cameron (Supervisor) & Pieter Bekker (Supervisor)|
- International investment law