Today, investor-state arbitration embodies the worst fears of those concerned about runaway globalization – a far cry from its framers’ intentions. Why did governments create a special legal system in which foreign investors can bring cases directly against states? This book takes readers through the key decisions that created investor-state arbitration, drawing on internal documents from several governments and extensive interviews to illustrate the politics behind this new legal system.

The corporations and law firms that dominate investor-state arbitration today were not present at its creation. In fact, there was almost no lobbying from investors. Nor did powerful states have a strong preference for it. Nor was it created because there was evidence that it facilitates investment – there was no such evidence.

International officials with peacebuilding and development aims drove the rise of investor-state arbitration. This book puts forward a new historical institutionalist explanation to illuminate how the actions of these officials kicked off a process of gradual institutional development. While these officials anticipated many developments, including an enormous caseload from investment treaties, over time this institutional framework they created has been put to new purposes by different actors. Institutions do not determine the purposes to which they may be put, and this book’s analysis illustrates how unintended consequences emerge and why institutions persist regardless.

Taylor St John is a Postdoctoral Research Fellow at PluriCourts, University of Oslo, and a Senior Research Associate at the Global Economic Governance Programme, University of Oxford. She will start as a Lecturer in International Relations at the University of St Andrews in Fall 2018. Her research focuses on the international architecture to resolve disputes between foreign investors and host states, and the politics of investment law and foreign investment more generally. She holds an MSc and D.Phil from the University of Oxford and a BA from the College of Idaho.

The Rise of Investor-State Arbitration: Online Book Launch at the ICSID Secretariat

 

Date: June 5, 11am-1pm (Eastern Standard Time)

 

Young ICSID is hosting a book launch for Taylor St John’s The Rise of Investor-State Arbitration. St John will present the book, then Antonio Parra, former Deputy Secretary General of ICSID, and Sudhanshu Roy, Foley Hoag, formerly of the Indian government, will provide comments on the book.

 

You are welcome to attend the event in person at the World Bank in Washington DC or participate online in real time. For more information, and to register to participate either in person or online, see: https://icsid.worldbank.org/en/Pages/Events.aspx?CID=181

 

If you would like to participate, please email the ICSID Secretariat at youngicsid@worldbank.org <mailto:youngicsid@worldbank.org> You are welcome to email questions for the speakers in advance.

 

For more information on The Rise of Investor-State Arbitration, see https://global.oup.com/academic/product/the-rise-of-investor-state-arbitration-9780198789918