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Proportionality, Reasonableness and Standards of Review in International Investment Law and Arbitration

Valentina Vadi, Lancaster University Law School, UK
International investment law is one of the most dynamic fields of international law, and yet it has been criticised for failing to strike a fair balance between private and public interests. In this valuable contribution to the current debate, Valentina Vadi examines the merits and pitfalls of arbitral tribunals’ use of the concepts of proportionality and reasonableness to review the compatibility of a state’s regulatory actions with its obligations under international investment law.
Extent: c 320 pp
Hardback Price: $140.00 Web: $126.00
Publication Date: April 2018
ISBN: 978 1 78536 857 8
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  • Law - Academic
  • Arbitration and Dispute Resolution
  • International Investment Law
  • International Economic Law, Trade Law
International investment law is one of the most dynamic fields of international law, and yet it has been criticised for failing to strike a fair balance between private and public interests. In this valuable contribution to the current debate, Valentina Vadi examines the merits and pitfalls of arbitral tribunals’ use of the concepts of proportionality and reasonableness to review the compatibility of a state’s regulatory actions with its obligations under international investment law.

Investment law scholars have hitherto given greater attention to the concept of proportionality than to reasonableness; this pivotal book combats this trajectory by examining both concepts in such a way that it does not advocate one over the other, but instead enables the reader to make informed choices. The author also explores the intensity of review as one of the main tools to calibrate the different interests underlying investor-state arbitrations.

This timely book offers a useful conceptual framework for reconciling the opposing interests at stake, making it a valuable resource for international law scholars and practitioners and other interested readers.
‘Valentina Vadi’s study on the use of proportionality doctrine in international investment law enhances her well-established reputation in studies of the interaction of other fields of law with international investment law. In this work, she examines the transportability of the proportionality doctrine, created in the context of constitutional systems that integrate a variety of societal values, into an international system that has the singular purpose of investment protection. Her analysis is a cogent plea that care must be taken in making such transfers. It is a well-reasoned work that will shape the future course of the use of the proportionality doctrine in this area of the law.’
– M. Sornarajah, National University of Singapore
Contents: Preface Introduction 1. International Investment Law as a Field of International Law 2. The Migration of Constitutional Ideas to International Investment Law and Arbitration Law 3. A History of Success? Proportionality in International Investment Law and Arbitration 4. Reasonableness in Investment Treaty Arbitration 5. Standards of Review in Investment Treaty Arbitration 6. Proportionality, Reasonableness, and Standards of Review in Investment Treaty Arbitration Conclusions Index