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Protection of Foreign Investment in the post-1945 Era and the Impact of Subsequent Reform

Author: Chrispass NYOMBI and Tom MORTIMER

Type: Article

ref: 22017149-169

N0: 2 de 2017

Pages: 149-169

Our modern system of investor-state arbitration is dominated by a network of bilateral and multilateral investment treaties which provide for minimum standards of treatment as a means of enforcing treaty obligations on promotion and protection of foreign investment. However, when viewed through the imperfect lens of political and economic history, we come to realise that before1945, much of this development was at an embryonic stage and the international investment arena was dominated by redundant practices in the form of diplomatic protection and treaties of capitulation. Thus, the development of our modern system of investor-state arbitration started in the post-war era. However, its development was often overshadowed by its interventionist past, which played a part in nullifying progressive initiatives driven towards modernising investment protection. This paper explores the post-war developments that ultimately led to the formulation of a treaty-based system of investment protection but also the forces of division that hampered its progress.