Working Papers


  • 10-February-2016

    English

    The legal framework applicable to joint interpretive agreements of investment treaties

    Most investment treaties do not expressly address joint interpretations and thus leave the issue to more general rules. This paper addresses the general legal framework applicable to joint agreements by treaty parties about the interpretation of treaties. It outlines key concepts and distinctions, and considers effects on third parties.

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  • 10-December-2015

    English

    Currency-based measures targeting banks - Balancing national regulation of risk and financial openness

    This paper reviews currency-based measures (CBMs) directed at banks in 49 countries between 2005 and 2013. These measures apply a discrimination, such as less favourable treatment, on the basis of the currency of an operation, typically foreign currencies. The new data shows that CBMs have been increasingly used in the post-crisis period, including for macro-prudential purposes.

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  • 16-January-2015

    English, PDF, 912kb

    Investment Treaties over Time - Treaty Practice and Interpretation in a Changing World, International Investment Working Paper 2015/2

    Investment treaty law reflects a permanent tension between stability and flexibility. Stability nurtures predictability, while flexibility helps legal systems stay in alignment with changing circumstances and evolving needs. This paper establishes an inventory of the mechanisms in investment treaty law that provide flexibility and surveys relevant treaty practice.

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  • 14-January-2015

    English, PDF, 994kb

    The Policy Landscape for International Investment by Government-controlled Investors: A Fact Finding Survey, International Investment Working Paper 2015/1

    Government-controlled investors, including state-owned enterprises and sovereign wealth funds, have greatly expanded their international activities in recent years. This paper describes the existing policy landscape of international investments by government-controlled investors under both national and international frameworks.

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  • 10-October-2014

    English, PDF, 903kb

    Investment Treaties and Shareholder Claims: Analysis of Treaty Practice, International Investment Working Paper 2014/3

    This paper analyses investment treaty provisions relating to shareholder claims. It addresses (i) treaty regimes for shareholder recovery and company recovery of damages; (ii) the interaction of reflective loss claims with treaty provisions that seek to limit multiple claims; and (iii) treaty provisions applicable to government objections to shareholder claims for reflective loss.

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  • 23-juillet-2014

    Français

    Documents de travail de l'OCDE sur l’investissement international

    La série des documents de travail sur l’investissement international, qui portent notamment sur les politiques et tendances ainsi que sur les implications plus larges de l’activité des entreprises multinationales, est destinée à mettre à la disposition d’un large lectorat un certain nombre d’études

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  • 23-July-2014

    English

    Investment Treaties and Shareholder Claims for Reflective Loss: Insights from Advanced Systems of Corporate Law, International Investment Working Paper 2014/2

    This paper examines shareholder claims for reflective loss under investment treaties in light of comparative analysis of advanced systems of corporate law; considers the impact of allowing shareholder claims for reflective loss on key characteristics of the business corporation; and explores possible responses by different categories of investors to the availability of shareholder claims for reflective loss under investment treaties.

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  • 23-July-2014

    English

    Investment Treaty Law, Sustainable Development and Responsible Business Conduct: A Fact Finding Survey, International Investment Working Paper 2014/1

    Investment treaties are often thought to be silent on investors’ responsibilities to host societies and on their contributions to sustainable development. This paper establishes a factual and statistical basis for understanding the relationship between investment treaty law and governments’ ability to advance the sustainable development agenda and promote responsible business conduct.

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  • 13-December-2013

    English, PDF, 2,081kb

    Temporal validity of international investment agreements: a large sample survey of treaty provisions, International Investment Working Paper 2013/4

    International investment agreements almost universally define their temporal validity and thus set conditions for States’ exit from these treaties. This study presents the results of the survey of language that determines the temporal validity of 2,061 bilateral investment agreements that the 55 economies participating in the OECD-hosted Freedom of Investment Roundtables have concluded with any other economy.

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  • 12-November-2013

    English, PDF, 913kb

    Investment treaties as corporate law: Shareholder claims and issues of consistency, International Investment Working Paper 2013/3

    Many investor-state dispute settlement (ISDS) claims are by shareholders for so-called "reflective loss" incurred as a result of injury to “their” company. This paper (i) compares the wide acceptance of such claims in ISDS with their general prohibition in advanced systems of national corporate law; and (ii) analyses policy issues raised by such claims (e.g., risk of double recovery, high legal costs, injury to creditors, etc.).

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