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Contribution Details

Type Journal Article
Scope Discipline-based scholarship
Title Standing in international investment and trade disputes
Organization Unit
  • Ralph Ossa
  • Robert W Staiger
  • Alan O Sykes
Item Subtype Original Work
Refereed Yes
Status Published in final form
  • English
Journal Title Journal of International Economics
Publisher Elsevier
Geographical Reach international
ISSN 0022-1996
Volume 145
Page Range 103791
Date 2023
Abstract Text International investment agreements employ dispute settlement procedures that differ markedly from their counterparts in trade agreements. A prominent and controversial difference arises with respect to the issue of “standing”: Who has the right to complain to adjudicators about a violation of the agreement? While trade agreements limit standing to the member governments (state-to-state dispute settlement), investment agreements routinely extend standing to private investors as well (investor-state dispute settlement). We develop parallel models of trade and investment agreements and employ them to study this difference. We find that the difference in standing between trade and investment agreements can be understood as deriving from the fundamentally different problems that these agreements are designed to solve. Our analysis also identifies some important qualifications to the case for including investor-state dispute settlement provisions in investment agreements, thereby offering a potential explanation for the strong political controversy associated with these provisions.
Digital Object Identifier 10.1016/j.jinteco.2023.103791
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Keywords Economics and econometrics, finance