Cultural heritage in international investment law and arbitration / Valentina Vadi, Lancaster University and New York University.
2014
K3791 .V33 2014 (Map It)
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Author
Title
Cultural heritage in international investment law and arbitration / Valentina Vadi, Lancaster University and New York University.
Published
Cambridge, UK ; New York : Cambridge University Press, 2014.
Call Number
K3791 .V33 2014
ISBN
9781107038486 (hardback)
1107038480 (hardback)
1107038480 (hardback)
Description
xxxiii, 344 pages ; 24 cm
System Control No.
(OCoLC)863196794
Summary
"Can states adopt protectionist cultural policies? What are the limits, if any, to state intervention in cultural matters? A wide variety of cultural policies may interfere with foreign investments, and a tension therefore exists between the cultural policies of the host state and investment treaty provisions. In some cases, foreign investors have claimed that cultural policies have negatively affected their investments, thereby amounting to a breach of the relevant investment treaty. This study maps the relevant investor-state arbitrations concerning cultural elements and shows that arbitrators have increasingly taken cultural concerns into consideration in deciding cases brought before them, eventually contributing to the coalescence of general principles of law demanding the protection of cultural heritage"-- Provided by publisher.
"The original idea for this book came about in 2007 during the time I spent as a researcher at the European University Institute in Florence, Italy. Not only is Florence a world heritage site of ineffable beauty but it was also a financial capital during the Renaissance period, home to philosophical inquiry and capital flows, religious iconoclasm and supreme artistic expression, power struggles and influential political thinking"-- Provided by publisher.
"The original idea for this book came about in 2007 during the time I spent as a researcher at the European University Institute in Florence, Italy. Not only is Florence a world heritage site of ineffable beauty but it was also a financial capital during the Renaissance period, home to philosophical inquiry and capital flows, religious iconoclasm and supreme artistic expression, power struggles and influential political thinking"-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references (pages 297-332) and index.
Record Appears in
Table of Contents
Foreword
xi
Preface
xiii
Acknowledgements
xiv
Table of Instruments
xvi
Table of Cases
xxi
Abbreviations
xxxi
Cultural heritage in international investment law and arbitration
1
Introduction
1
Chapter plan
7
Methodological framework of the book
8
pt. I
Cultural heritage and foreign direct investments: defining and connecting the two fields
13
1.
Cultural heritage in international law
15
Introduction
15
1.1.
Defining cultural heritage
18
1.2.
The legal paradigms
23
1.3.
The cultural property paradigm
24
1.4.
Cultural heritage as a global public good
29
1.5.
Human rights approaches
34
1.6.
Good cultural governance
40
1.7.
The linkage paradigm
48
1.8.
Culture and development
50
Conclusions
55
2.
International investment law
56
Introduction
56
2.1.
Historical background: multilateral failures and bilateral successes
58
2.2.
Substantive standards of protection
62
2.3.
The settlement of disputes between foreign investors and states
73
2.4.
Main procedural features of investor--state arbitration
76
2.5.
Conflicting paradigms
78
2.6.
The legitimacy crisis of international investment law and arbitration
82
Final Remarks
85
pt. II
When cultures collide: cultural heritage and foreign direct investment
87
Introduction
89
3.
The world heritage and foreign direct investment
93
Introduction
93
3.1.
The world heritage and its governance
94
3.2.
Mapping contemporary heritage policy discourse
106
3.3.
Cultural heritage disputes
113
3.4.
Expropriation claims
116
3.5.
Compensation claims
119
3.6.
Fair and equitable treatment
123
3.7.
Discrimination
127
3.8.
New trends
129
3.9.
Critical assessment
131
Conclusions
135
4.
Underwater cultural heritage and foreign direct investment
137
Introduction
137
4.1.
The concept of underwater cultural heritage
138
4.2.
International law and underwater archaeology
140
4.3.
Dispute settlement mechanisms
146
4.4.
International investment law as a further layer of regulation
148
4.5.
Critical assessment
155
Conclusions
158
5.
Cultural diversity, intangible heritage and foreign direct investment
161
Introduction
161
5.1.
Cultural diversity
165
5.2.
The Convention on Cultural Diversity
167
5.3.
Intangible cultural heritage
173
5.4.
The tension between cultural diversity, intangible heritage and economic globalization
177
5.5.
Fair and equitable treatment
183
5.6.
Discrimination
186
5.7.
Performance requirements
195
5.8.
Compensation
198
5.9.
Critical assessment
199
Conclusions
202
6.
When cultures collide: Foreign direct investment, natural resources and indigenous heritage in international investment law
204
Introduction
204
6.1.
The notion of indigeneous cultural heritage
206
6.2.
The protection of indigenous cultural heritage in international law
210
6.3.
When cultures collide
219
6.4.
Expropriation claims
220
6.5.
Fair and equitable treatment
223
6.6.
Discrimination
225
6.7.
Full protection and security
228
6.8.
Critical assessment
229
Conclusions
233
pt. III
Investing in culture
237
Introduction
239
7.
Investing in culture
240
Introduction
240
A.
De lege lata
242
7.1.
Negotiating cultural disputes
242
7.2.
Corporate responsibility to respect cultural heritage
247
7.3.
The applicable law in investor-state arbitration
252
7.4.
Ordre public culturel
255
7.5.
Treaty interpretation
263
7.6.
The standards of review
271
7.7.
Conflict and reconciliation of norms in investor-state arbitration
275
B.
De lege ferenda
277
7.8.
Cultural exceptions
277
7.9.
Cultural impact assessments
286
Conclusions
290
Conclusions
291
Bibliography
297
Index
333