International Investment Law


American Classics in International Law: International Investment Law, edited by Professor José E. Alvarez, contains a selection of the best scholarship on the subject produced by those with a connection to the United States. Since international investment law remains a subject that is not codified in a single multilateral treaty, the volume also contains selections of U.S. treaties that have influenced the over 3,400 international investment agreements (IIAs) now in existence. The collection offers a selection of significant addresses by prominent U.S. policy-makers along with a comprehensive introduction by the Editor that puts the various elements - the contributions made by U.S. academics, treaty-negotiators, and policy-makers - in a broader context.

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José E. Alvarez, the Herbert and Rose Rubin Professor of International Law at New York University Law School, served as President of the American Society of International Law (ASIL) from 2006-2008 and is the current co-editor in chief of the American Journal of International Law. The author of more than 100 articles, his books include The Public International Law Regime Governing International Investment, based on his lectures at the Hague Academy of International Law, and The Impact of International Organizations on International Law, based on his general course at the Xiamen Academy of International Law.
Foreword to American Classics in International Law
      W. Michael Reisman

Introduction: The U.S. Contribution to International Investment Law
      José E. Alvarez

I. A Historical Account

1. "From Gunboats to BITs," Yearbook on International Investment Law & Policy 2010-2011 (2012), pp. 649–692.
      Thomas Johnson & Jonathan Gimblett

II. Essays, Speeches, and Reports by U.S. Policy-Makers (1787-2011)

2. Report on Manufactures (1791)(excerpt)
      Alexander Hamilton

3. The Defense (1795)(Nos. XIII (excerpt), XIV, XV, XVIII, XIX, XX, XXI, XXII, and XXXVI)
      Alexander Hamilton & Rufus King

4. Third Annual Message (1903)(excerpt)
      Theodore Roosevelt

5. The Basis of Protection to Citizens Residing Abroad” 4 Proceedings of the American Society of International Law at Its Annual Meeting 16 (1910).
      Elihu Root

6. Address Before the Pan American Conference on Arbitration and Conciliation (1928)
      Calvin Coolidge

7. The Hull Formula (1938)
      Exchanges between Cordell Hull and the Mexican government)

8. Special Message to the Congress Recommending Point 4 Legislation (1949)
      Harry S. Truman

9. Annual Address (World Bank) (1963)(excerpt)
      George D. Woods

10. Statement Announcing United States Policy on Economic Assistance and Investment Security in Developing Nations (1972)
      Richard M. Nixon

11. Fourth Annual Report to the Congress on United States Foreign Policy (1973)
      Richard M. Nixon

12. Statement on International Investment Policy (1983)
      Ronald Reagan

13. Statement on International Trade and Investment Policy (2007)
      George W. Bush

14. Statement by the President on United States Commitment to Open Investment Policy (2011)
      Barack Obama

15. U.S. Inbound Foreign Direct Investment (2011)
       Executive Office of the President, Council of Economic Advisers

III. U.S. Treaty Practice (1783-2012)

16. The Definitive Treaty of Peace (1783)

17. Treaty of Amity, Commerce and Navigation Between Great Britain and the United States (Jay Treaty)(concluded 1794; entered into force 1796)

18. Treaty of Friendship, Commerce and Consular Rights (United States and Germany)(1923)(excerpts)

19. Treaty of Commerce and Navigation (United States and Japan)(1953)

20. Treaty with Argentina Concerning the Reciprocal Encouragement and Protection of Investment (including Message of the President of the United States Transmitting the Treaty to the Senate) in 31 International Legal Materials, 124 (1992)

21. North American Free Trade Agreement (NAFTA)(1994)(excerpts and Chapter 11)

22. U.S. Model Bilateral Investment Treaty (2004)

23. United States-Peru Trade Promotion Treaty (Environmental and Labor Side Agreements)(signed 2006, entered into force 2009)

24. U.S. Model Bilateral Investment Treaty (2012)

IV. U.S. Scholarship

25. “Limitations on Coercive Protection,” 21 Am. J. Int'l L. 303 (1927)
      Edwin Brochard

26. “The “Minimum Standard” of the Treatment of Aliens,” (1940) 33 Proceedings of the American Society of International Law at Its Annual Meeting 51 (1939)
      Edwin Brochard

27. “Property Protection Provisions in United States Commercial Treaties,” 45 Am. J. Int'l L. 83 (1951)
      Robert R. Wilson

28. “Treaties for the Encouragement and Protection of Foreign Investment: Present United States Practice,” 5 Am. J. Comp. L. 229 (Spring, 1956)
      Herman Walker, Jr.

29. “Responsibility of States for Injuries to the Economic Interests of Aliens,” 55 Am. J. Int'l L. 545 (1961)
      Louis B. Sohn and R. R. Baxter

30. “What Constitutes a Taking of Property Under International Law?,” 38 Brit. Y.B. Int'l L. 307 (1962)
      G.C. Christie

31. “‘Constructive Takings’ under International Law: a Modest Foray into the Problem of ‘Creeping Expropriation’,” 16 Va. J. Int'l L. 103 (1975-1976)
      Burns H. Weston

32. “The Charter of Economic Rights and Duties of States and the Deprivation of Foreign-Owned Wealth,” 75 Am. J. Int'l L. 437 (1981)
      Burns H. Weston

33. “The Breakdown of the Control Mechanism in ICSID Arbitration,” Yale Faculty Scholarship Series Paper 874 (1990)
       W. Michael Reisman

34. “Arbitration Without Privity,” 10 ICSID Review, Foreign Investment Law Journal 232 (1995)
       Jan Paulsson

35. “Investment Liberalization and Economic Development: The Role of Bilateral Investment Treaties,” 36 Colum. J. Transnat'l L. 501 (1998)
       Kenneth J. Vandevelde

36. “Why LDCs Sign Treaties That Hurt Them: Explaining the Popularity of Bilateral Investment Treaties,” 8 Va. J. Int'l L. 639 (1997)
       J. Andrew T. Guzman

37. “The Once and Future Foreign Investment Regime,” in Looking to the Future: Essays on International Law in honor of W. Michael Reisman (2011) pp. 607–648
       José E. Alvarez

38. “Public vs. Private Enforcement of International Economic Law: Of Standing and Remedy,” 34 Journal of Legal Studies 631 (June 2005)
       Alan O. Sykes

39. “Do BITs really work: an evaluation of bilateral investment treaties and their grand bargain,” 46 Harv. Int’l L.J. 67 (2005)
       Jeswald W. Salacuse & Nicholas Sullivan

40. “Empirically Evaluating Claims About Investment Treaty Arbitration,” 86 North Carolina Law Review 2 (2007)
       Susan D. Franck

41. “Investor-State Arbitration as Governance: Fair and Equitable Treatment, Proportionality and the Emerging Global Administrative Law,” NYU School of Law, Public Law Research Paper No. 09-46 (2009)
       Benedict Kingsbury & Stephan Schill

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