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Reviving the emperor’s old clothes : the good governance agenda, development and international investment law
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Tan, Celine (2015) Reviving the emperor’s old clothes : the good governance agenda, development and international investment law. In: Schill, Stephen and Tams, Christian J. and Hofmann, Rainer, (eds.) International investment law and development : bridging the gap. Frankfurt investment and economic law series . Cheltenham, UK: Edward Elgar, pp. 147-179. ISBN 9781784711344
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Official URL: http://dx.doi.org/10.4337/9781784711351.00014
Abstract
The concept of ‘good governance’ has long occupied a central space in contemporary development policy. Originally conceived and promulgated widely by development agencies, notably the World Bank, in response to concerns over the effectiveness of development assistance, the good governance agenda quickly gained broader currency as a tool of international economic law and policymaking. In the realm of international investment, the notion of good governance has been regularly enrolled by its proponents to advocate for and facilitate institutional reforms in developing countries aimed at creating what is termed ‘an enabling climate’ for foreign direct investment (FDI). Here, the design of the institutional framework of domestic governance, particularly those which manage and regulate the entry and conduct of foreign investors, are seen as crucial to capacity of developing countries to attract and sustain FDI and thereby engendering economic growth and development. In terms of international investment law, the language of good governance, its associated rule of law narrative and their relationship to development outcomes have been used to justify the normative and institutional evolution of law and policy in this area. Specifically, notions of stability, predictability and efficacy that feature prominently on the good governance and rule of law agenda have been widely conscripted to legitimise the rapid proliferation of international investment agreements (IIAs) and the attendant ascendency of the investment arbitration regime over the past two decades.
Item Type: | Book Item | ||||
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Subjects: | H Social Sciences > HG Finance K Law [Moys] > KC International Law |
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Divisions: | Faculty of Social Sciences > School of Law | ||||
Library of Congress Subject Headings (LCSH): | Investments, Foreign (International law), Investments, Foreign -- Law and legislation | ||||
Series Name: | Frankfurt investment and economic law series | ||||
Publisher: | Edward Elgar | ||||
Place of Publication: | Cheltenham, UK | ||||
ISBN: | 9781784711344 | ||||
Book Title: | International investment law and development : bridging the gap | ||||
Editor: | Schill, Stephen and Tams, Christian J. and Hofmann, Rainer | ||||
Official Date: | 18 December 2015 | ||||
Dates: |
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Number of Pages: | 33 | ||||
Page Range: | pp. 147-179 | ||||
DOI: | 10.4337/9781784711351.00014 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access | ||||
Version or Related Resource: | Paper initially presented at the Frankfurt Investment Law and Development Workshop 2013: 'International Investment Law: Friends or Foes?' | ||||
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