Imperfect Alternatives: Institutional Choice and the Reform of Investment Law
Gregory C. Shaffer and Sergio Puig, Imperfect Alternatives: Institutional Choice and the Reform of Investment Law, 112 Am. J. Int'l L. (2018).
This Article applies the theory of comparative institutional analysis to evaluate the trade-offs associated with alternative institutional processes for resolving investment disputes in terms of their relative biases. We assess the trade-offs in light of the principle of accountability under the rule of law, which underpins other goals attributed to investment law. The Article makes two recommendations: first, reforms should address complementarity between domestic and international institutions; second, institutional choice should vary in light of the different contexts that States face.