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The Fair and Equitable Treatment (FET) Standard in International Investment Arbitration pp 79–97Cite as

Developing Countries in International Investment Arbitration

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Part of the book series: International Law and the Global South ((ILGS))

Abstract

Cognisant of a diverse understanding of the term ‘developing countries ’, this chapter aims to contextualise the discussion by familiarising the reader with classifications of countries that different international organisations and academic scholarship have adopted. After a close scrutiny of these country classifications, it is argued that these classifications do not serve any useful guidance to the international investment tribunals to consider the developmental issues and challenges of the host developing countries in their interpretation of the FET standard. Therefore, there is a need to identify a concept of development which is relevant in the investment dispute context. It is also argued in this book that this can be done by identifying the conditions and prevailing circumstances of developing countries , which form a relevant contextual background in the particular context of investment disputes and interpretation of the FET standard against host developing countries .

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Notes

  1. 1.

    See, e.g., Nielsen (2011, p. 4) webpage http://www.imf.org/external/pubs/ft/wp/2011/wp1131.pdf last accessed 7 June 2018.

  2. 2.

    Others have argued that development is not a concept upon which countries can be classified and also that the inherent normative nature of the system does not allow for having a generally accepted classification system. See, e.g., Ibid., pp. 3–5.

  3. 3.

    When new states emerged after decolonisation around the globe the former empires started to invest and transfer resources to their former colonies. This paved the way for a new branch of economics known as development economics.

  4. 4.

    Nielsen (2011, p. 5).

  5. 5.

    See, e.g., Pearson (1969).

  6. 6.

    See, e.g., Nielsen (2011, p. 4).

  7. 7.

    Morton and Tulloch (2011, p. 14).

  8. 8.

    The term ‘World Bank ’ refers to the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). See, e.g., webpage http://www.worldbank.org last accessed 7 June 2018.

  9. 9.

    See, e.g., webpage https://datahelpdesk.worldbank.org/knowledgebase/articles/378832-what-is-the-world-bank-atlas-method last accessed 7 June 2018.

  10. 10.

    The operation classification system of the WB preceded the analytical classification system. See, e.g., Nielsen (2011, p. 9).

  11. 11.

    For information on the operational and analytical purpose of the WB, see webpage http://blogs.worldbank.org/opendata/lics-lmics-umics-and-hics-classifying-economies-analytical-purposes last accessed 7 June 2018.

  12. 12.

    See, e.g., webpage https://datahelpdesk.worldbank.org/knowledgebase/articles/906519 accessed 7 July 2014.

  13. 13.

    See webpage https://data.worldbank.org/products/wdi-maps last accessed 7 June 2018.

  14. 14.

    World Development Report, 1978

    https://openknowledge.worldbank.org/bitstream/handle/10986/5961/WDR%201978%20-%20English.pdf?sequence=1&isAllowed=y last accessed 2 June 2018. Also, see, e.g., webpage https://openknowledge.worldbank.org/handle/10986/2124 last accessed 2 June 2018. For a discussion on the issue, see, e.g., Hicks and Streeten (1979).

  15. 15.

    Developing countries were further categorised as low-income and middle-income countries.

  16. 16.

    These countries were Albania, Bulgaria, the People’s Republic of China, Cuba, Czechoslovakia, the German Democratic Republic, Hungary, the Democratic, Republic of Korea, Mongolia, Poland, Romania and the USSR.

  17. 17.

    It is also to be noted that four OECD member states, Greece, Portugal, Spain and Turkey, were in the developing country group, whereas South Africa which was not an OECD member state was designated as an industrial country.

  18. 18.

    Nielsen (2011, p. 13). Also, see World Development Report 1989, webpage

    https://openknowledge.worldbank.org/bitstream/handle/10986/5972/WDR%201989%20-%20English.pdf?sequence=1&isAllowed=y%20last last accessed 30 May 2018.

  19. 19.

    See webpage https://data.worldbank.org/products/wdi last accessed 30 May 2018.

  20. 20.

    See, e.g., The Little Data Book on Private Sector Development (2013) World Bank , p. 9. For how the World Bank classifies the countries, see, e.g., https://datahelpdesk.worldbank.org/knowledgebase/articles/378834-how-does-the-world-bank-classify-countries last accessed 30 May 2018. Also, see webpage https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups last accessed 30 May 2018.

  21. 21.

    See, e.g., webpage https://unstats.un.org/unsd/methodology/m49/ last accessed 20 May 2018.

  22. 22.

    Nielsen (2011, p. 14).

  23. 23.

    For several years, the WEO had been produced for internal use in the Fund.

  24. 24.

    See, e.g., webpage https://www.imf.org/external/pubs/ft/weo/faq.htm last accessed 20 May 2018.

  25. 25.

    Ibid.

  26. 26.

    Ibid.

  27. 27.

    IMF , Statistical Appendix (2013), p. 177 webpage file:///C:/Users/User%20PC/Downloads/_statapppdf.pdf last accessed 20 May 2018.

  28. 28.

    See, e.g., webpage http://www.imf.org/external/pubs/ft/weo/2013/01/weodata/weoselagr.aspx last accessed 20 May 2018.

  29. 29.

    See, e.g., (Hill 2005; Agh 1991; Zaslavsky 1992; Sokol 2001; Suny 1993).

  30. 30.

    IMF , Statistical Appendix (2017), p. 220 https://www.imf.org/en/Publications/WEO/Issues/2017/09/19/world-economic-outlook-october-2017 last accessed 8 June 2018.

  31. 31.

    These groups are advanced economies (39 countries), Euro area (19 countries), major advanced economies (G7), other advanced economies (advanced economies excluding G7 and euro area), European Union (27 countries), emerging markets and developing economies (154 countries), Central and Eastern Europe (14 countries), the Commonwealth of Independent States (12 countries), developing Asia (30 countries), ASEAN-5 (5 countries), Latin America and the Caribbean (32 countries), Middle East, North Africa, Afghanistan and Pakistan (23 countries), Middle East and North Africa (21 countries) and sub-Sahara Africa (45 countries). See, e.g.,

    https://www.imf.org/en/Publications/WEO/Issues/2017/09/19/world-economic-outlook-october-2017 last accessed 12 June 2018.

  32. 32.

    For details, visit webpage http://www.un.org/events/ldc3/prepcom/history.htm last accessed 25 May 2018.

  33. 33.

    See webpage http://unctad.org/en/Pages/ALDC/Least%20Developed%20Countries/UN-list-of-Least-Developed-Countries.aspx last accessed 20 May 2018.

  34. 34.

    An economic taxonomy is the system by which economic activity is classified.

  35. 35.

    Nielsen (2011, p. 7).

  36. 36.

    See, e.g., webpage http://unctadstat.unctad.org/EN/About.html last accessed 27 May 2018. Also, see webpage

    https://unstats.un.org/unsd/methodology/m49/ last accessed 27 May 2018.

  37. 37.

    See, e.g., webpage http://hdr.undp.org/en/content/human-development-index-hdi last accessed 27 May 2018.

  38. 38.

    See, e.g., http://hdr.undp.org/en/humandev/ last accessed 27 May 2018.

  39. 39.

    See, e.g., webpage http://hdr.undp.org/sites/default/files/reports/222/hdr_1993_en_complete_nostats.pdf last accessed 25 May 2018. Also, see, e.g., McGillivray and White (1993), McGillivray (1991), Hopkins (1991), Noorbakhsh (1998), A ‘Modified Human Development Index ’; Noorbakshi 1998,‘The Human Development Index : Some Technical Issues and Alternative Indices’.

  40. 40.

    See webpage http://hdr.undp.org/en/data last accessed 27 May 2018.

  41. 41.

    Nielsen (2011, p. 8).

  42. 42.

    The UNDP Human Development Report (1991) states in its explanation to technical notes that in order to represent the declining marginal utility of higher incomes in the income index, it gives the income categories above the poverty threshold progressively lower weights. See, e.g., UNDP Human Development Report 1991, pp. 88–91. For a general discussion on UNDP , Human Development Report see, e.g., Sagar and Najam (1998), McGillivray (1991), Desai (1991) Trabold-Nübler (1991).

  43. 43.

    According to the UNDP Human Development Report, 2001, in 1991, 30 countries had an HDI ranking that differed more than 20 points from their ranking according to their per capita income. See, e.g., UNDP (2001) Human Development Report 2001: Making New Technologies Work for Human Development . Oxford University Press, New York, p. 14 webpage http://hdr.undp.org/sites/default/files/reports/262/hdr_2001_en.pdf last accessed 20 May 2018.

  44. 44.

    Szirmai (2005, p. 15).

  45. 45.

    See, e.g., webpage http://hdr.undp.org/en/composite/HDI last accessed 21 May 2018.

  46. 46.

    See webpage http://hdr.undp.org/sites/default/files/2016_human_development_report.pdf last accessed 21 May 2018.

  47. 47.

    Ibid.

  48. 48.

    Ansong (2012, p. 22). Also, see, e.g., Fan (2008).

  49. 49.

    See, e.g., webpage https://www.wto.org/english/tratop_e/devel_e/d1who_e.htm last accessed 21 May 2018. Also, see, e.g., Abbot 2007, ‘Are Developing Countries Deterred from Using the WTO Dispute Settlement System? Participation of Developing Countries in the DSM in the Years 1995–2005’. ECIPE Working Paper No. 01/2007, http://www.ecipe.org/app/uploads/2014/12/are-developing-countries-deterred-from-using-the-wto-dispute-settlement-system.pdf last accessed 23 May 2018; and Horn and Mavroidis (2006); also, see, e.g., Granger (2006).

  50. 50.

    https://www.wto.org/english/tratop_e/devel_e/d1who_e.htm last accessed 25 June 2018.

  51. 51.

    See, e.g., Hoekman et al. (2004), Finger and Winters (1998), Henson and Loader (2001).

  52. 52.

    See, e.g., webpage https://www.wto.org/english/tratop_e/devel_e/devel_e.htm last accessed 23 May 2018.

  53. 53.

    Webpage https://www.wto.org/english/tratop_e/devel_e/dev_special_differential_provisions_e.htm#legal_provisions last accessed 12 June 2018.

  54. 54.

    For a general understanding of the GSP, see, e.g., Holliday (1996), Cooper (2006), Hoekman and Kostecki (2009).

  55. 55.

    For more information on GSP, see, e.g., http://unctad.org/en/Pages/DITC/GSP/Generalized-System-of-Preferences.aspx last accessed 23 May 2018.

  56. 56.

    See, e.g., Michalopoulos (2011); Thomas and Trachtman (2009).

  57. 57.

    OECD Convention, signed in Paris, 1960. See, e.g.,

    http://www.oecd.org/general/conventionontheorganisationforeconomicco-operationanddevelopment.htm last accessed 25 May 2018.

  58. 58.

    For a more information on current members of OECD , visit http://www.oecd.org/about/membersandpartners/ last accessed 25 June 2018.

  59. 59.

    See, e.g., Murciego (2013) webpage

    https://www.competitionpolicyinternational.com/assets/Uploads/CartelSeptember2.pdf last accessed 23 May 2018;

    Bitrán and Giedion (2003), webpage http://siteresources.worldbank.org/SOCIALPROTECTION/Resources/SP-Discussion-papers/Safety-Nets-DP/0308.pdf last accessed 23 May 2018; Bureau et al. (2005) webpage http://ageconsearch.umn.edu/bitstream/18858/1/wp050006.pdf last accessed 10 June 2018.

  60. 60.

    Lankes and Venables (1996), Mello (1997), Kinoshita and Campos (2003) webpage file:///C:/Users/User%20PC/Downloads/_wp03228%20(2).pdf last accessed 20 May 2018.

  61. 61.

    See, e.g., Worsley (1970). All these developing countries , however, had significant differences with developed industrialised countries. Other terms such as ‘North’ and ‘South’ were also used to describe these two broad group of countries.

  62. 62.

    Szirmai (2005, p. 26).

  63. 63.

    Nyerere (1990, p. 1).

  64. 64.

    Ibid.

  65. 65.

    Morton and Tulloch (2011, p. 15); also, see, e.g., Szirmai (2005, p. 6).

  66. 66.

    Szirmai (2005, p. 15).

  67. 67.

    Nielsen (2011, p. 3).

  68. 68.

    Szirmai (2005, p. 11).

  69. 69.

    Merryman (1977, p. 463).

  70. 70.

    Aristotle (1992, p. 196).

  71. 71.

    See, e.g., Colman and Nixson (1994, pp. 1–5). The views on development are so divergent that some scholars view modern-day capitalism as producing a distorted form of development around the globe. For a detailed discussion on capitalism and development in a global perspective, see, e.g., Sklair (1994, p. 165).

  72. 72.

    Escobar (1995, pp. 5 and 44–45).

  73. 73.

    Baxi (2012, p. 455).

  74. 74.

    Szirmai (2005, p. 11).

  75. 75.

    See, e.g., Jones (1988), Landes (1998).

  76. 76.

    See, e.g., Myrdal (1968), Myrdal (1970); Sen argues that in ancient Asian traditions, the so-called modern-day Western notions such as tolerance or human rights were very much prominent. But today, the spread of these ideas in modern form in this part of the globe is inextricably linked to Western expansion. See, e.g., Sen (1999, pp. 231–240).

  77. 77.

    Szirmai (2005, p. 12). Szirmai also refers to Frank. See, e.g., Franck (1969).

  78. 78.

    Esteva (1992, p. 2).

  79. 79.

    Sen identifies a short list that among these freedoms, the most significant are freedom from poverty, malnutrition, premature mortality and access to health care. In support of his argument, Sen shows the empirical evidence of urban African Americans who have lower life expectancies than that of the Chinese person despite the fact that in the USA the per capita income is much higher. For a brief discussion on Sen’s ideas of freedom, see, e.g., Sen (1999).

  80. 80.

    Szirmai (2005, p. 7).

  81. 81.

    An acceptable living condition implies that a person is able to consume sufficient nutrients to avoid being malnourished and that his or her dwelling place has certain basics for life such as water, light, size, sanitation. Therefore, the minimum income has to afford workers these basic standards of living conditions; the poverty line defines this minimum. The individuals or households who fall below that line are designated as poor. However, as the costs and politically acceptable minimum living standards vary greatly from country to country, the poverty lines are country-specific, which has a direct impact on the comparisons of poverty outcomes across the countries. See, e.g., Sen (1999).

  82. 82.

    See, e.g., Seers (1972), Korten (2001, p. 165).

  83. 83.

    Morton and Tulloch (2011, p. 14). Also, see, e.g., UN Statistics Division Note https://unstats.un.org/unsd/methodology/m49/ last accessed 30 May 2018.

  84. 84.

    Morton and Tulloch (2011, p. 15).

  85. 85.

    See, e.g., Szirmai (2005, p. 29).

  86. 86.

    Morton and Tulloch (2011, p. 14).

  87. 87.

    Kriebaum (2011, p. 404).

  88. 88.

    Kläger (2011, p. 121).

  89. 89.

    Ibid.

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Islam, R. (2018). Developing Countries in International Investment Arbitration. In: The Fair and Equitable Treatment (FET) Standard in International Investment Arbitration. International Law and the Global South. Springer, Singapore. https://doi.org/10.1007/978-981-13-2125-2_4

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