The Great Recession and the New Frontiers of International Investment Law: The Economics of Early Warning Models and the Law of Necessity

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dc.contributor.authorAlvarez-Jimenez, Albertoen_NZ
dc.date.accessioned2017-11-02T21:00:29Z
dc.date.available2014-09-01en_NZ
dc.date.available2017-11-02T21:00:29Z
dc.date.issued2014en_NZ
dc.description.abstractThe Great Recession has prompted unparalleled economic research on the causes and handling of crises. It is then important for international investment law to catch up with the new conceptual developments. This article is an attempt in this direction. Its first part presents a description of one of the main tools to avoid economic collapses— early warning models (EWMs)—which have received increasing attention by the European Central Bank, the International Monetary Fund (IMF), and the Fed. This part also presents the debate among economists about the meaningfulness of EWMs. The second part shows how international investment law should respond to this debate and proceed with an assessment of the role that EWMs may have in the interpretation of emergency clauses in BITs and the customary rule of necessity. In particular, this part deals with the question of what happens in international legal terms when a State, which relies on EWMs to adopt measures aimed at preventing a crisis, adversely affects foreign investors. The section also discusses the level of deference that investor/State tribunals may accord to States relying on EWMs when taking economic preventive action and illustrates how international arbitration tribunals should deal with debates on the quality of the given EWMs.
dc.format.mimetypeapplication/pdf
dc.identifier.citationAlvarez-Jimenez, A. (2014). The Great Recession and the New Frontiers of International Investment Law: The Economics of Early Warning Models and the Law of Necessity. Journal of International Economic Law, 17(3), 517–550. https://doi.org/10.1093/jiel/jgu027en
dc.identifier.doi10.1093/jiel/jgu027en_NZ
dc.identifier.eissn1464-3758en_NZ
dc.identifier.issn1369-3034en_NZ
dc.identifier.urihttps://hdl.handle.net/10289/11452
dc.language.isoenen_NZ
dc.publisherOxford University Pressen_NZ
dc.relation.isPartOfJournal of International Economic Lawen_NZ
dc.rights© The Author 2014. Published by Oxford University Press
dc.subjectSocial Sciencesen_NZ
dc.subjectLawen_NZ
dc.subjectGovernment & Lawen_NZ
dc.subjectFinancial Crisisen_NZ
dc.subjectBalanceen_NZ
dc.titleThe Great Recession and the New Frontiers of International Investment Law: The Economics of Early Warning Models and the Law of Necessityen_NZ
dc.typeJournal Article
pubs.begin-page517
pubs.elements-id114318
pubs.end-page550
pubs.issue3en_NZ
pubs.organisational-group/Waikato
pubs.organisational-group/Waikato/2018 PBRF
pubs.organisational-group/Waikato/FLAW
pubs.organisational-group/Waikato/FLAW/2018 PBRF - FLAW
pubs.publication-statusPublisheden_NZ
pubs.user.infoAlvarez-Jimenez, Alberto (aalvarez@waikato.ac.nz)
pubs.volume17en_NZ
uow.verification.statusverified
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