155 Indirect Expropriation: Conceptual Realignments? RUDOLF DOLZER and FELIX BLOCH* At a time when national policies concerning international economic relations are increasingly characterized by concepts aiming at structural adjustment, good gov- ernance and export-led growth, and when many countries nd themselves in erce competition for foreign direct investment, the era of straightforward formal expropriations of alien property seems to have come to an end. At the same time, however, the need for protecting certain public goods, be it in the areas of social cohesion or environmental protection, remains on the agenda of most, if not all, political actors. Against this backdrop, it does not seem unreasonable to assume that pressure on national governments – open or disguised – to protect domestic industries, the environment, or public health may encourage governments to regu- late foreign investment, in itself or as part of the general economy, so drastically that foreign investors may be inclined to raise claims of indirect expropriation. The precise de nition of what constitutes an expropriation is thus likely to con- tinue to engender legal debates and disputes. This is even more so considering the growing number of bilateral investment treaties (“BITs”). Before turning to
International Law FORUM du droit international (continued in International Community Law Review) – Brill
Published: Jan 1, 2003
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