ISDS and States’ Ability to Deal with Financial Crisis
Development summary
The article reports the results of an empirical study of 85 bilateral investment treaties and free trade agreements signed between 2015 and 2019 and available in English through the UNCTAD Investment Policy Hub. It examines carve-outs concerning financial regulation, including exceptions or defences and exclusions of particular state conduct from investor-state dispute settlement, and assesses their likely effectiveness in protecting state sovereignty and reducing claims arising from crisis-related regulatory measures.