Cultural Heritage in International Investment Law and Arbitration PDF
Preview Cultural Heritage in International Investment Law and Arbitration
CULTURAL HERITAGE IN INTERNATIONAL INVESTMENT LAW AND ARBITRATION Can states adopt protectionist cultural policies? What are the limits, ifany,tostateinterventioninculturalmatters?Awidevarietyofcultural policiesmayinterferewithforeigninvestments,andatensiontherefore existsbetweentheculturalpoliciesofthehoststateandinvestmenttreaty provisions. In some cases, foreign investors have claimed that cultural policieshavenegativelyaffectedtheirinvestments,therebyamountingto abreachoftherelevantinvestmenttreaty.Investmenttreatyarbitration constitutes a sophisticated means of dispute settlement. As a result, foreign investors choose to take their disputes to investment treaty tribunals when such disputes nevertheless contain obvious cultural issues.Thisstudymapstherelevantinvestor–statearbitrationsconcern- ingculturalelementsandshowsthatarbitratorshaveincreasinglytaken cultural concerns into consideration in deciding cases brought before them,eventuallycontributingtothecoalescenceofgeneralprinciplesof lawdemandingtheprotectionofculturalheritage. valentinavadiisareaderininternationaleconomiclawatLancaster University.ShewaspreviouslyanEmileNoëlFellowattheJeanMonnet Center for International and Regional Economic Law, New York University, and a Marie Curie Fellow at Maastricht University. Her main areas of research are in international economic law and interna- tionalculturallaw. CULTURAL HERITAGE IN INTERNATIONAL INVESTMENT LAW AND ARBITRATION VALENTINA VADI LancasterUniversityandNewYorkUniversity UniversityPrintingHouse,CambridgeCB28BS,UnitedKingdom PublishedintheUnitedStatesofAmericabyCambridgeUniversityPress,NewYork CambridgeUniversityPressispartoftheUniversityofCambridge. ItfurtherstheUniversity’smissionbydisseminatingknowledgeinthepursuitof education,learning,andresearchatthehighestinternationallevelsofexcellence. www.cambridge.org Informationonthistitle:www.cambridge.org/9781107038486 ©ValentinaVadi2014 Thispublicationisincopyright.Subjecttostatutoryexception andtotheprovisionsofrelevantcollectivelicensingagreements, noreproductionofanypartmaytakeplacewithoutthewritten permissionofCambridgeUniversityPress. Firstpublished2014 PrintedintheUnitedKingdombyClays,StIvesplc AcataloguerecordforthispublicationisavailablefromtheBritishLibrary ISBN978-1-107-03848-6Hardback CambridgeUniversityPresshasnoresponsibilityforthepersistenceoraccuracyof URLsforexternalorthird-partyinternetwebsitesreferredtointhispublication, anddoesnotguaranteethatanycontentonsuchwebsitesis,orwillremain, accurateorappropriate. Amiamadre CONTENTS Foreword pagexi Preface xiii Acknowledgements xiv TableofInstruments xvi TableofCases xxi Abbreviations xxxi Culturalheritageininternationalinvestment lawandarbitration 1 Introduction 1 Chapterplan 7 Methodologicalframeworkofthebook 8 part i Culturalheritageandforeigndirectinvestments: definingandconnectingthetwofields 13 1 Culturalheritageininternationallaw 15 Introduction 15 1.1 Definingculturalheritage 18 1.2 Thelegalparadigms 23 1.3 Theculturalpropertyparadigm 24 1.4 Culturalheritageasaglobalpublicgood 29 1.5 Humanrightsapproaches 34 1.6 Goodculturalgovernance 40 1.7 Thelinkageparadigm 48 1.8 Cultureanddevelopment 50 Conclusions 55 vii viii contents 2 Internationalinvestmentlaw 56 Introduction 56 2.1 Historicalbackground:multilateralfailuresandbilateral successes 58 2.2 Substantivestandardsofprotection 62 2.3 Thesettlementofdisputesbetweenforeigninvestorsand states 73 2.4 Mainproceduralfeaturesofinvestor–statearbitration 76 2.5 Conflictingparadigms 78 2.6 Thelegitimacycrisisofinternationalinvestmentlawand arbitration 82 FinalRemarks 85 part ii Whenculturescollide:culturalheritageand foreigndirectinvestment 87 Introduction 89 3 Theworldheritageandforeigndirectinvestment 93 Introduction 93 3.1 Theworldheritageanditsgovernance 94 3.2 Mappingcontemporaryheritagepolicydiscourse 106 3.3 Culturalheritagedisputes 113 3.4 Expropriationclaims 116 3.5 Compensationclaims 119 3.6 Fairandequitabletreatment 123 3.7 Discrimination 127 3.8 Newtrends 129 3.9 Criticalassessment 131 Conclusions 135 4 Underwaterculturalheritageandforeigndirect investment 137 Introduction 137 4.1 Theconceptofunderwaterculturalheritage 138 4.2 Internationallawandunderwaterarchaeology 140 4.3 Disputesettlementmechanisms 146 4.4 Internationalinvestmentlawasafurtherlayer ofregulation 148 4.5 Criticalassessment 155 Conclusions 158
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