Research Handbook on International Law and Peace
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Research Handbook on International Law and Peace

Edited by Cecilia M. Bailliet

Peace is an elusive concept, especially within the field of international law, varying according to historical era and between contextual applications within different cultures, institutions, societies, and academic traditions. This Research Handbook responds to the gap created by the neglect of peace in international law scholarship. Explaining the normative evolution of peace from the principles of peaceful co-existence to the UN declaration on the right to peace, this Research Handbook calls for the fortification of international institutions to facilitate the pursuit of sustainable peace as a public good.
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Chapter 9: World peace and international investment: the role of investment treaties and arbitration

Ole Kristian Fauchald and Daniel Behn

Abstract

The chapter starts with a discussion of whether and how foreign direct investment contributes to peace and development. Against this background, it studies the respective roles of international investment agreements and investment treaty arbitration in terms of their contribution to peace. These studies focus on three main situations. First, the contribution of investment law to the resolution of disputes related to international and internal armed conflicts. Secondly, how investment law can contribute to peace building in post-conflict situation. Finally, how investment law can contribute to peace building more broadly conceived (positive peace). The main findings of the chapter are that international investment law has had very limited peace related functions so far, but that there is a trend and significant potential towards more important contributions. The chapter is based on extensive data regarding investment treaties from the UNCTAD IIA database and investment treaty arbitration from the PITAD Database.

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