Article title Investment Arbitration: from Audacious Ideas Through Revolutionary Practice to Uncertain Future?
Name of magazine Scientific-practical legal journal
«Alternative Dispute Resolution»
(1 half of the year – in Ukrainian,
2 half of the year – in Russian)
Issue 1/2013
Сторінки [43-55]
Annotation The present article provides a general overview of the inception and functioning of modern investment arbitration system in general and ICSID arbitration in particular. The first section examines the history, theoretical and philosophical principles of the modern investment arbitration in the context of socio-political changes in the second half of the twentieth century. The second section analyses the evolution of investment arbitration due to the increased popularity of bilateral investment protection treaties and its role in the period after the «cold war» on the background of the rapid growth of investment disputes on the verge of 1990–2000’s. The third section discusses the criticism of the legitimacy of investment arbitration by the academic community and the public, as well as radical changes in the assessment of the advantages of investment arbitration by the U.S. government, some Latin American countries and the institutions of the European Union. The fourth section provides an attempt to determine the subsequent development of investment arbitration, taking into account the existing trends.
Keywords ICSID, investment, international agreements (treaties), investment protection, investment arbitration.