Investment arbitration has its procedural roots in commercial arbitration. Yet international investment law has strong affinities to public law: its primary function is to provide a check on the host State's power to interfere with foreign investments. Therefore, in functional terms investment arbitration may be seen as akin to administrative and constitutional judicial review. The essays contained in this volume explore the public law origin and background of international investment law from a comparative perspective. The comparison includes national legal systems as well as international subsystems such as human rights law, European law and WTO law. This book closes an important gap in the rapidly growing literature on international investment law. The approach taken by its editor makes a valuable contribution to a better understanding and more refined interpretation of treaties for the protection of foreign investments.

Christoph Schreuer

The most important book for investment arbitration in a decade. Arbitrators have been adrift in a sea of discretion as they attempt to fill out the content of vague standards. This book provides guidance and a method that will shape the arguments of counsel and provide a reasoned basis for decision. A critical step in saving investment arbitration has been taken.

David D. Caron, University of California at Berkeley

...I am confident it will spark debate in many areas of international investment law and provide somewhat of a blueprint for subsequent comparative analysis that aim at informing public international law.

European Journal of International Law