THE INTERPLAY BETWEEN NATIONAL PROPERTY LAWS AND INTERNATIONAL LAW ON INVESTMENT PROTECTION IN INVESTMENT ARBITRATION

Abstract

This thesis attempts to measure the extent to which international investment protection reflects various national property protection regimes and how these systems interact with each other. Developing states and states in transition harbour more communitarian understanding of property which tolerates greater state activism with regards to private property rights. International investment protection is based on the Western understanding of property and the balance between individual and communitarian interests. The tensions in investment arbitration are caused by the differences between domestic property regimes and international investment protection because participants consciously or unconsciously perceive and interpret investment protection through the prism of their domestic social consensus for property. To reduce the tensions within the investor-state dispute settlement system and to find the right balance between individual and communitarian interests at the international level, it is necessary to take into account various national constitutional jurisprudence on the protection of property.