Part IV The International Legal Framework, 13 The Foundations of the International Legal Framework for Investment
From: The Three Laws of International Investment: National, Contractual, and International Frameworks for Foreign Capital
Jeswald W. Salacuse
- International economic law — Foreign Direct Investment — Specialized treaty frameworks — Expropriation — Sources, foundations and principles of international law — Customary international law — General principles of international law
The international legal framework for investment is built on international law. Whereas the national legal framework for investment is the product of legislative and regulatory action by individual states and whereas the contractual framework results from negotiations between states and investors, as well as among investors, the international legal framework has grown through agreements and other practices that states have made with one another. International law has traditionally been conceived as the law governing relations among states. 1 Strictly speaking, in...