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Principles of International Investment Law, 2nd Edition by Dolzer, Rudolf; Schreuer, Christoph (15th November 2012)

V Admission and Establishment

From: Principles of International Investment Law (2nd Edition)

Rudolf Dolzer, Christoph Schreuer

From: Investment Claims (http://oxia.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved. date: 18 February 2020

Subject(s):
Law of treaties — BITs (Bilateral Investment Treaties) — International economic law — Standards of treatment — Investment ‘in accordance with host state law’ — Specialized treaty frameworks
In the late 1980s there was a growing international consensus that economic liberalism promised more growth and innovation than economic protectionism within closed national or regional borders. A now famous paper by J Williamson provided a list of conditions for successful economic growth, which eventually came to be known as the ‘Washington Consensus’.1 The 1980s were considered, from a development perspective, as the ‘lost decade’ in Latin America and Africa, which led to more poverty, economic stagnation, and fiscal disorder, mainly due to inward-looking,...
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