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Introduction: legitimacy criticisms of ISDS and an interdisciplinary approach

In: Dispute Settlement and the Reform of International Investment Law

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The reform of the investor-state dispute settlement (ISDS) mechanism has provoked much debate among legal scholars and practitioners. The critiques of ISDS mainly arise from concerns regarding the legitimacy of the mechanism, such as perceived tolerance for the lack of impartiality and consistency. To allay these concerns, there have been proposals to reform ISDS by establishing investment courts with tenured judges and appellate tribunals. However, international adjudication systems such as ISDS cannot be fully analogized to domestic courts in common law countries: ISDS falls into a broader international regime that includes neither hierarchical/centralized decision-making and enforcement authorities nor a multilateral investment treaty, and the rules and principles on foreign investment protection are fragmented in around 3000 bilateral or regional investment treaties. This background chapter will introduce the features, history and criticisms of international investment law and its dispute settlement mechsnism. It will also briefly explain the theoretical approach of this book (that is, constructivism).

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  • ., 2023. "Introduction: legitimacy criticisms of ISDS and an interdisciplinary approach," Chapters, in: Dispute Settlement and the Reform of International Investment Law, chapter 1, pages 1-21, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21937_1
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035300969.00006
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    Law - Academic;

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