The Right to an Unchanging World – Indirect Expropriation in International Investment Agreements and State Sovereignty
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Ivan Pupolizio
Associate Professor at the Law Department of the University of Bari ‘Aldo Moro’
Abstract
This paper examines indirect expropriation in international investment agreements and compares current foreign investments protection with property protection in the XIXth century USA, when the US Supreme Court adhered to an abstract and de-physicalized conception of property later contested by legal realists. Its central claim is that investor state arbitration poses a serious and underestimated challenge to state sovereignty, granting arbitrators a ‘proto-constitutional’ power of judicial review on regulatory powers, including the legislative one. Moreover, the indeterminacy of indirect expropriation leads to a potential transformation of property rights protection that could eventually give transnational enterprises a new ‘right to an unchanging world’, as the US Supreme Court did more than a century ago, albeit this time on a global scale.
About the author
Associate Professor at the Law Department of the University of Bari ‘Aldo Moro’
© 2017 by Walter de Gruyter Berlin/Boston
Articles in the same Issue
- Inhalt
- Table of Contents
- Articles
- The Right to an Unchanging World – Indirect Expropriation in International Investment Agreements and State Sovereignty
- Explaining Death Penalty Clemency in the Socialist Republic of Vietnam from 1986 to 2015
- Notes & Essays
- Constitutional Changes and the Incremental Reductions of Collective Religious Freedom in Hungary
- Developments Austria
- ‘Last Resort – Association for Self- Determined Death’: The Freedom of Association within the Two-Track System of Judicial Review in Austria
- Developments CEE
- Constitutional Court of Romania: Postal Voting
- Croatian Constitutional Court: Suspension of the New Family Act, and ‘Re-Enacting’ the Old One
- Book Reviews
- Patrick Birkinshaw & Andrea Biondi (eds), Britain Alone! The Implications and Consequences of United Kingdom Exit from the EU, Kluwer Law International, 2016, ISBN 978-9041158321, 376 pp.
Articles in the same Issue
- Inhalt
- Table of Contents
- Articles
- The Right to an Unchanging World – Indirect Expropriation in International Investment Agreements and State Sovereignty
- Explaining Death Penalty Clemency in the Socialist Republic of Vietnam from 1986 to 2015
- Notes & Essays
- Constitutional Changes and the Incremental Reductions of Collective Religious Freedom in Hungary
- Developments Austria
- ‘Last Resort – Association for Self- Determined Death’: The Freedom of Association within the Two-Track System of Judicial Review in Austria
- Developments CEE
- Constitutional Court of Romania: Postal Voting
- Croatian Constitutional Court: Suspension of the New Family Act, and ‘Re-Enacting’ the Old One
- Book Reviews
- Patrick Birkinshaw & Andrea Biondi (eds), Britain Alone! The Implications and Consequences of United Kingdom Exit from the EU, Kluwer Law International, 2016, ISBN 978-9041158321, 376 pp.
