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Cultural Heritage in International Investment Law and Arbitration

  • Date Published: March 2016
  • availability: In stock
  • format: Paperback
  • isbn: 9781316603475


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About the Authors
  • 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.

    • In-depth analysis of the links between international investment law and cultural policies furthers the discourse on global governance and strengthens the growing recognition of the importance of effective protection of cultural heritage for peaceful relations among nations
    • Systematic mapping of the relevant investor-state arbitrations provides policy-makers, arbitrators, stakeholders and the public at large with a complete survey of the existing arbitral case law concerning cultural elements
    • Investigates whether and how culture can be mainstreamed in international investment policy, and proposes legal methods to reconcile these different values both de lege lata (i.e. interpreting the existing legal instruments) and de lege ferenda (amending the existing law or proposing the adoption of different legal provisions)
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    Reviews & endorsements

    'Vadi tells the story of how non-legal (economic) considerations could benefit from taking into account more of the law in this area, alongside its well-established values … equipped with a wonderfully rich set of cases … [this volume] will be influential in shaping the field for years to come.' Lucas Lixinski, Netherlands International Law Review

    'Through thought-provoking scenarios and forward-looking proposals, Vadi encourages the improvement of cultural governance. She clarifies the current status of public international law on the subject and presents valuable and clearly explained tools that are now at the disposal of investment arbitrators, practitioners, public officials, diplomats and researchers.' Sebastián Green Martínez, Israel Law Review

    'Aside from the wealth of information as well as the quality of its analysis, the book of Professor Vadi covers a gap in the relevant literature. Indeed, apart from a limited number of studies focusing on aspects of the relation between cultural heritage and international investment law, there has been no in-depth study, and the book remains the sole comprehensive contribution to the subject.' Panayotis M. Protopsaltis, Journal of International Arbitration

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    Product details

    • Date Published: March 2016
    • format: Paperback
    • isbn: 9781316603475
    • length: 380 pages
    • dimensions: 230 x 152 x 20 mm
    • weight: 0.57kg
    • availability: In stock
  • Table of Contents

    1. Cultural heritage in international law
    2. International investment law
    3. The World Heritage and foreign direct investment
    4. Underwater cultural heritage and foreign direct investment
    5. Cultural diversity, intangible heritage and foreign direct investment
    6. Indigenous cultural heritage and foreign direct investment
    7. Investing in culture.

  • Author

    Valentina Vadi, New York University
    Valentina Vadi is an Associate Professor in International Economic Law at Lancaster University. She was previously an Emile Noël Fellow at the Jean Monnet Centre 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 international cultural law.

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