The Politics of Investment Treaties in Latin America

International investment law is at a crossroads, with civil society groups, think tanks, and international organizations calling for widespread reform. Over 1,000 legal claims have been brought by foreign investors under IIAs since the mid-1990s, resulting in multi-million dollar fines imposed against governments. This book examines infringement and reform in Latin America, focusing on Peru, Argentina, and Ecuador, which responded differently to waves of investor claims. It illustrates the conditions under which IIAs constrain state behavior and how different belief systems produce different responses to external pressures for treaty compliance.

Format: Hardback
Length: 272 pages
Publication date: 25 August 2022
Publisher: Oxford University Press

International investment law is facing a critical juncture, with civil society groups, esteemed think tanks, and international organizations advocating for comprehensive reform. The focal point of contention revolves around international investment agreements (IIAs) and investor-state dispute settlement (ISDS). Since the mid-1990s, foreign investors have filed over 1,000 legal claims under IIAs, resulting in substantial fines imposed on governments for policies related to the environment, natural resource governance, and access to essential services, among other areas of public concern. Governments targeted by these investor claims are implementing a range of reforms, spanning from incremental adjustments to transformative paradigms. These diverse responses raise crucial questions regarding the politics of infringement and reform: why do governments violate IIAs despite the associated costs? Why do some governments, heavily targeted by investor claims, pursue more substantial reforms than others?

This book offers a timely exploration of infringement and reform in Latin America, where governments experienced the impact of investor claims earlier and more frequently than in other regions. It focuses on Peru, Argentina, and Ecuador, countries that responded differently to waves of investor claims. Through interviews with government officials, international lawyers, and an extensive analysis of legal transcripts, detailed case study chapters examine the conditions that gave rise to investor claims and the factors shaping countries' reform agendas. By doing so, the book sheds light on the constraints imposed by IIAs on state behavior and how different belief systems yield distinct responses to external pressures for treaty compliance.

Weight: 572g
Dimension: 164 x 240 x 26 (mm)
ISBN-13: 9780198870890