Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution

Detalhes bibliográficos
Autor(a) principal: Finbow, Robert G.
Data de Publicação: 2016
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: https://doi.org/10.17645/pag.v4i3.639
Resumo: This essay will examine the emergence of transnational governance via supranational economic agreements which promote global imposition of liberalizing policies in the interests of transnational investors. The stalled multilateral World Trade Organization (WTO) process has given way to a plethora of regional and bilateral economic agreements covering a range of new issues—investment, intellectual property, services, and regulations—which trench ever more deeply on domestic decision-making. Informed by Phillip Cerny’s conception of “competition states”, Colin Crouch’s (2000) lament about “post-democracy”, Carroll and Sapinski’s analysis of “global corporate elites”, and David Held’s depiction of “global governance complexes”, the essay will examine the role of transnational corporate and institutional elites in advancing economic agreements which narrow the scope for democratic governance. These authors depict the combination of constraint and empowerment of states induced by these transnational agreements which force most liberal democracies to cut or tweak programs and regulations in economic and social fields to protect investor rights, while boosting restraints on citizens in areas like intellectual property—what Cerny (1997) calls the “paradox” of the competition state. Given the number and complexity of these transnational governance arrangements, this essay will focus on the transnational constraints of investor state arbitration and disputes settlement systems. This will be illustrated by examining the growth of investor disputes settlement claims in bilateral treaties and major European and North American economic agreements and the rise of arbitration cases which impose costs on states for violations of investor rights. The essay considers the implications of these new forms of transnational governance for democratic governments’ responsive to popular demands. It concludes by suggesting the need for revisions to theories of the democratic state, which may be morphing into pluralistic plutocracy.
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spelling Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolutiondisputes resolution; global governance; investment treaties; state theoryThis essay will examine the emergence of transnational governance via supranational economic agreements which promote global imposition of liberalizing policies in the interests of transnational investors. The stalled multilateral World Trade Organization (WTO) process has given way to a plethora of regional and bilateral economic agreements covering a range of new issues—investment, intellectual property, services, and regulations—which trench ever more deeply on domestic decision-making. Informed by Phillip Cerny’s conception of “competition states”, Colin Crouch’s (2000) lament about “post-democracy”, Carroll and Sapinski’s analysis of “global corporate elites”, and David Held’s depiction of “global governance complexes”, the essay will examine the role of transnational corporate and institutional elites in advancing economic agreements which narrow the scope for democratic governance. These authors depict the combination of constraint and empowerment of states induced by these transnational agreements which force most liberal democracies to cut or tweak programs and regulations in economic and social fields to protect investor rights, while boosting restraints on citizens in areas like intellectual property—what Cerny (1997) calls the “paradox” of the competition state. Given the number and complexity of these transnational governance arrangements, this essay will focus on the transnational constraints of investor state arbitration and disputes settlement systems. This will be illustrated by examining the growth of investor disputes settlement claims in bilateral treaties and major European and North American economic agreements and the rise of arbitration cases which impose costs on states for violations of investor rights. The essay considers the implications of these new forms of transnational governance for democratic governments’ responsive to popular demands. It concludes by suggesting the need for revisions to theories of the democratic state, which may be morphing into pluralistic plutocracy.Cogitatio2016-08-11info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://doi.org/10.17645/pag.v4i3.639oai:ojs.cogitatiopress.com:article/639Politics and Governance; Vol 4, No 3 (2016): Supranational Institutions and Governance in an Era of Uncertain Norms; 62-762183-2463reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAPenghttps://www.cogitatiopress.com/politicsandgovernance/article/view/639https://doi.org/10.17645/pag.v4i3.639https://www.cogitatiopress.com/politicsandgovernance/article/view/639/639Copyright (c) 2016 Robert G. Finbowhttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessFinbow, Robert G.2022-12-22T15:16:44Zoai:ojs.cogitatiopress.com:article/639Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:22:25.862825Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution
title Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution
spellingShingle Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution
Finbow, Robert G.
disputes resolution; global governance; investment treaties; state theory
title_short Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution
title_full Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution
title_fullStr Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution
title_full_unstemmed Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution
title_sort Restructuring the State through Economic and Trade Agreements: The Case of Investment Disputes Resolution
author Finbow, Robert G.
author_facet Finbow, Robert G.
author_role author
dc.contributor.author.fl_str_mv Finbow, Robert G.
dc.subject.por.fl_str_mv disputes resolution; global governance; investment treaties; state theory
topic disputes resolution; global governance; investment treaties; state theory
description This essay will examine the emergence of transnational governance via supranational economic agreements which promote global imposition of liberalizing policies in the interests of transnational investors. The stalled multilateral World Trade Organization (WTO) process has given way to a plethora of regional and bilateral economic agreements covering a range of new issues—investment, intellectual property, services, and regulations—which trench ever more deeply on domestic decision-making. Informed by Phillip Cerny’s conception of “competition states”, Colin Crouch’s (2000) lament about “post-democracy”, Carroll and Sapinski’s analysis of “global corporate elites”, and David Held’s depiction of “global governance complexes”, the essay will examine the role of transnational corporate and institutional elites in advancing economic agreements which narrow the scope for democratic governance. These authors depict the combination of constraint and empowerment of states induced by these transnational agreements which force most liberal democracies to cut or tweak programs and regulations in economic and social fields to protect investor rights, while boosting restraints on citizens in areas like intellectual property—what Cerny (1997) calls the “paradox” of the competition state. Given the number and complexity of these transnational governance arrangements, this essay will focus on the transnational constraints of investor state arbitration and disputes settlement systems. This will be illustrated by examining the growth of investor disputes settlement claims in bilateral treaties and major European and North American economic agreements and the rise of arbitration cases which impose costs on states for violations of investor rights. The essay considers the implications of these new forms of transnational governance for democratic governments’ responsive to popular demands. It concludes by suggesting the need for revisions to theories of the democratic state, which may be morphing into pluralistic plutocracy.
publishDate 2016
dc.date.none.fl_str_mv 2016-08-11
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dc.relation.none.fl_str_mv https://www.cogitatiopress.com/politicsandgovernance/article/view/639
https://doi.org/10.17645/pag.v4i3.639
https://www.cogitatiopress.com/politicsandgovernance/article/view/639/639
dc.rights.driver.fl_str_mv Copyright (c) 2016 Robert G. Finbow
http://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2016 Robert G. Finbow
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publisher.none.fl_str_mv Cogitatio
dc.source.none.fl_str_mv Politics and Governance; Vol 4, No 3 (2016): Supranational Institutions and Governance in an Era of Uncertain Norms; 62-76
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