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Possible Improvements to the Framework of International Investment Arbitration

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image of The Journal of World Investment & Trade

The framework of international investment arbitration has attracted an increasing amount of criticism in recent years; academics have contended that the system is suffering a ‘crisis of consistency’ brought about primarily through inconsistent decisions. This problem is exacerbated by the fact that the system of international investment arbitration does not utilise a single hierarchical court-like system. Rather, there are hundreds of institutions settling investment disputes, as well as ad hoc tribunals. Furthermore, arbitral decisions do not carry any precedential value. With these problems in mind, the objective of this work is to examine how the framework of international investment arbitration could be reformed in order that it may operate in the most efficient and effective manner.

Affiliations: 1: Dr, LLB (University of Leeds), LLM (University of Leeds), PhD (University of Leeds), Lecturer in Law, University of Sunderland, England,


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