1887

OECD Working Papers on International Investment

Selected studies on international investment and investment policy prepared for use within the OECD. They address such issues as investment agreements, dispute settlement, fair and equitable treatment, most favored nation treatment, and corruption.

English

The future of investment treaties - possible directions

As our societies face new challenges and make new demands from policies addressing international investment, there is a new urgency to profoundly reconsider treaties addressing investment. This paper was prepared originally as background for initial inter-governmental and public discussions at the OECD about future investment treaties as well as possible alternatives. The paper surveys potential roles for treaties addressing investment in (i) contributing to sustainable development and responsible business conduct; (ii) preserving and improving investment market access and liberalisation of investment, and facilitating FDI; (iii) regulating subsidised state-owned enterprises, competition in subsidies for investment, and digitalisation; and (iv) addressing the interests of treaty-covered and other investors in reasonable legal predictability and a level playing field, together with the need for policy space and public support for treaty policy. It considers potential use of more flexible and varied remedies and implementation mechanisms. A final section briefly considers treaty policies as governments and societies confront the urgent challenge of climate change.

English

Keywords: labour law, environmental law, sustainable development, responsible business conduct, human rights
JEL: F21: International Economics / International Factor Movements and International Business / International Investment; Long-Term Capital Movements; K33: Law and Economics / Other Substantive Areas of Law / International Law; F18: International Economics / Trade / Trade and Environment; F60: International Economics / Economic Impacts of Globalization / Economic Impacts of Globalization: General; K32: Law and Economics / Other Substantive Areas of Law / Energy, Environmental, Health, and Safety Law; F53: International Economics / International Relations, National Security, and International Political Economy / International Agreements and Observance; International Organizations; F13: International Economics / Trade / Trade Policy; International Trade Organizations; K23: Law and Economics / Regulation and Business Law / Regulated Industries and Administrative Law; K40: Law and Economics / Legal Procedure, the Legal System, and Illegal Behavior / Legal Procedure, the Legal System, and Illegal Behavior: General; F23: International Economics / International Factor Movements and International Business / Multinational Firms; International Business
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