Ababneh, Hisham
(2018)
A MODEL BIT FOR DEVELOPMENT
The Example of Jordan.
Doctoral Dissertation, University of Pittsburgh.
(Unpublished)
Abstract
Developing countries are increasingly realizing the need to attract foreign direct investment to achieve economic and social welfare. Although the advantages of FDI are numerous and well documented, economic development through FDI has failed in most developing countries. Studies show that bilateral investment treaties (BITs) have not played a significant role in promoting and encouraging economic development for host states. By contrast, studies show that BITs have over-protected foreign investors and investments, at the expense of host country development. This is a result of the historical background and circumstances surrounding the formation of BITs in the 1950’s. Recently, many countries and international organisations have expressed the need to effectuate the reciprocal nature of investment treaties, whereby BITs serve as a tool for economic development, in addition to investment protection.
States, as sovereigns, have the duty and right to pursue legitimate development goals and regulate matters of public concern without fear of liability to foreign investors. This requires a balanced approach to BITs, in which economic development objectives of the host country, and foreign investment protection are both addressed and equally preserved.
Model BITs are becoming an even more important tool to achieve development goals from FDI. A model BIT is an investment treaty designed specifically to address the needs and goals of a specific country. If the model BIT strikes the right balance between economic development and investment protection, then development through FDI should be possible.
This thesis takes Jordan as an example of a developing country that is striving to attract FDI, and does not have a model treaty specifically designed for its needs and objectives. The proposed BIT for Jordan shifts the focus from pure investment protection to balanced protection tied with economic development. Overly protective treatment standards and their innovative interpretations by arbitral tribunals, are analyzed, and guidelines are provided to help avoid past problems for developing countries. This doctrinal and comparative study draws on the case law of the International Centre for the Settlement of Investment Disputes (ICSID) and existing model BITs to develop an up-to-date BIT for Jordan that addresses the country’s development goals.
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Details
| Item Type: |
University of Pittsburgh ETD
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| Status: |
Unpublished |
| Creators/Authors: |
|
| ETD Committee: |
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| Date: |
17 January 2018 |
| Date Type: |
Publication |
| Defense Date: |
3 October 2017 |
| Approval Date: |
17 January 2018 |
| Submission Date: |
18 November 2017 |
| Access Restriction: |
No restriction; Release the ETD for access worldwide immediately. |
| Number of Pages: |
348 |
| Institution: |
University of Pittsburgh |
| Schools and Programs: |
School of Law > Law |
| Degree: |
SJD - Doctor of Juridical Science |
| Thesis Type: |
Doctoral Dissertation |
| Refereed: |
Yes |
| Uncontrolled Keywords: |
Investor-state Arbitration
Bilateral Investment Treaties
FDI for Development
Model BITs
Jordan
Investment Protection Standards |
| Date Deposited: |
17 Jan 2018 21:56 |
| Last Modified: |
17 Jan 2018 21:56 |
| URI: |
http://d-scholarship.pitt.edu/id/eprint/33385 |
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