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'Authority Shifts' in Global Governance: Intersecting Politicizations and the Reform of Investor–State Arbitration
[journal article]
Abstract The global investment regime is a prime example of the so-called 'politicization beyond the state'. Investment agreements with an Investor-State Dispute Settlement (ISDS) mechanism have become contested in several corners of the globe, triggering a widespread reform process encompassing national, re... view more
The global investment regime is a prime example of the so-called 'politicization beyond the state'. Investment agreements with an Investor-State Dispute Settlement (ISDS) mechanism have become contested in several corners of the globe, triggering a widespread reform process encompassing national, regional and multilateral levels. This article examines the consequences of this confluence of politicization processes, focusing on the European Union (EU) and two key venues of ISDS reform: the United Nations Commission on International Trade Law (UNCITRAL) and the Energy Charter Treaty (ECT). Combining different strands of politicization literature in International Relations and Political Science, the article advances a nuanced conceptualisation of the institutional consequences of politicization that goes beyond a deepening/decline dichotomy. Instead, the article examines whether and how politicization generates 'authority shifts', either through a vertical move between international and national levels; and/or through a horizontal recalibration between public and private forms of governance. The article argues that although the EU's initiative for global ISDS reform intended to rebalance public and private authority while strengthening its international character, the on-going reform processes at the UNCITRAL and the ECT may eventually lead to a (partial) dismantling of international authority.... view less
Keywords
EU; European Commission; global governance; international politics; international relations; authority; politicization
Classification
International Relations, International Politics, Foreign Affairs, Development Policy
Free Keywords
Energy Charter Treaty; European Union; Investor–State Dispute Settlement; United Nations Commission on International Trade Law; authority; global governance; investment; politicization
Document language
English
Publication Year
2020
Page/Pages
p. 336-347
Journal
Politics and Governance, 8 (2020) 1
Issue topic
Politicization of EU Trade Policy across Time and Space
ISSN
2183-2463
Status
Published Version; peer reviewed