The importance of transparency for legitimizing investor-state dispute settlement
- Author
- Flavia Marisi
- Organization
- Abstract
- Investment arbitration has been at the center of both strong support and vivid debate: many praise its efficient process for dispute resolution, whereas others lament the lack of transparency and raise doubts about its legitimacy and consistency, due to, respectively, the possible contrast between democratically issued laws and investment protection and the lack of predictability of the outcome of awards. In fact, not only did voices of criticism emerge from civil society: they originated also within the framework of the UNCITRAL Working Group III negotiations on ISDS reform. The chapter reflects on the advantages that confidentiality offers to both parties and on the close connection between transparency demand and the perceived crisis of legitimacy of investment arbitration emerged from a multiplicity of stakeholders. In particular, the chapter highlights the main arguments currently questioning the legitimacy of investment arbitration, and finds that a proper balance between transparency and confidentiality can protect the arbitration proceedings from external pressure and at the same time create confidence among all stakeholders.
- Keywords
- Investment arbitration, ISDS, Predictability of outcomes, Public interest, Public participation, Constitutional rights
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Citation
Please use this url to cite or link to this publication: http://hdl.handle.net/1854/LU-01HTYWWYHN7EKJVKRZ9QYN77CB
- MLA
- Marisi, Flavia. “The Importance of Transparency for Legitimizing Investor-State Dispute Settlement.” Handbook of International Investment Law and Policy, edited by Julien Chaisse et al., Springer Singapore, 2021, pp. 1563–82, doi:10.1007/978-981-13-3615-7_20.
- APA
- Marisi, F. (2021). The importance of transparency for legitimizing investor-state dispute settlement. In J. Chaisse, L. Choukroune, & S. Jusoh (Eds.), Handbook of international investment law and policy (pp. 1563–1582). https://doi.org/10.1007/978-981-13-3615-7_20
- Chicago author-date
- Marisi, Flavia. 2021. “The Importance of Transparency for Legitimizing Investor-State Dispute Settlement.” In Handbook of International Investment Law and Policy, edited by Julien Chaisse, Leïla Choukroune, and Sufian Jusoh, 1563–82. Springer Singapore. https://doi.org/10.1007/978-981-13-3615-7_20.
- Chicago author-date (all authors)
- Marisi, Flavia. 2021. “The Importance of Transparency for Legitimizing Investor-State Dispute Settlement.” In Handbook of International Investment Law and Policy, ed by. Julien Chaisse, Leïla Choukroune, and Sufian Jusoh, 1563–1582. Springer Singapore. doi:10.1007/978-981-13-3615-7_20.
- Vancouver
- 1.Marisi F. The importance of transparency for legitimizing investor-state dispute settlement. In: Chaisse J, Choukroune L, Jusoh S, editors. Handbook of international investment law and policy. Springer Singapore; 2021. p. 1563–82.
- IEEE
- [1]F. Marisi, “The importance of transparency for legitimizing investor-state dispute settlement,” in Handbook of international investment law and policy, J. Chaisse, L. Choukroune, and S. Jusoh, Eds. Springer Singapore, 2021, pp. 1563–1582.
@incollection{01HTYWWYHN7EKJVKRZ9QYN77CB,
abstract = {{Investment arbitration has been at the center of both strong support and vivid debate: many praise its efficient process for dispute resolution, whereas others lament the lack of transparency and raise doubts about its legitimacy and consistency, due to, respectively, the possible contrast between democratically issued laws and investment protection and the lack of predictability of the outcome of awards. In fact, not only did voices of criticism emerge from civil society: they originated also within the framework of the UNCITRAL Working Group III negotiations on ISDS reform. The chapter reflects on the advantages that confidentiality offers to both parties and on the close connection between transparency demand and the perceived crisis of legitimacy of investment arbitration emerged from a multiplicity of stakeholders. In particular, the chapter highlights the main arguments currently questioning the legitimacy of investment arbitration, and finds that a proper balance between transparency and confidentiality can protect the arbitration proceedings from external pressure and at the same time create confidence among all stakeholders.}},
author = {{Marisi, Flavia}},
booktitle = {{Handbook of international investment law and policy}},
editor = {{Chaisse, Julien and Choukroune, Leïla and Jusoh, Sufian}},
isbn = {{9789811336140}},
keywords = {{Investment arbitration,ISDS,Predictability of outcomes,Public interest,Public participation,Constitutional rights}},
language = {{eng}},
pages = {{1563--1582}},
publisher = {{Springer Singapore}},
title = {{The importance of transparency for legitimizing investor-state dispute settlement}},
url = {{http://doi.org/10.1007/978-981-13-3615-7_20}},
year = {{2021}},
}
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