Three Laws of International Investment

International investments are governed by three different legal frameworks: 1) national laws of both the host country and the investor's home country; 2) contracts, whether between the investor and the host country or among investors and their associates; and 3) international law, consisting of applicable treaties, customs, and general principles of law. Together, these three frameworks profoundly influence the organization, operation, and protection of foreigninvestments. Investors, government officials, and their legal counsel must therefore understand the complex interaction among these frameworks and how best to employ them to advance their interests.This book examines the content of each of these three legal frameworks for international investment and explores how they influence the foreign investment process and the nature of investment transactions, projects, and enterprises. The book is divided into five parts. Part I, after explaining the contemporary nature and significance of international investment, examines the theoretical and practical links between law and the investment process. Part II explores the nature of national lawsregulating foreign investment. Part III considers of the various contractual frameworks for international investments, looking at their negotiation, content, and stability. Part IV sets out the international legal framework governing foreign investment, focusing on the content and nature of investmenttreaties and on general principles. Finally, Part V discusses how the three legal frameworks interact with each other. By comprehensively examining each of the applicable legal frameworks, this book provides a vital overview of the laws, rules, and regulations governing foreign investment for lawyers, scholars, students, and government officials. Three different legal frameworks are applicable to foreign investment: the laws of the host state and the investor's home country, the contractbetween the host state and the investor, and the rules and principles of international investment law. These three bodies of law interact with each other and must be analysed together when interpreting an investment agreement or arbitrating a dispute. This book examines the content of each of these threelegal frameworks and explores how they influence the flow of foreign investment.The book is divided into five parts. Part I, after explaining the contemporary nature and significance of international investment, examines the theoretical and practical links between law and the investment process. Part II explores the nature of national laws regulating foreign investment. Part III explores the nature of the contractual framework for international investments, looking at their negotiation, content, and stability. Part IV sets out the international legal framework governingforeign investment, focusing on the content and nature of bilateral investment treaties and on general principles. Finally, Part V considers how the three legal framewo

Jeswald W. Salacuse is the Henry J. Braker Professor of Law at The Fletcher School of Law and Diplomacy, Tufts University. Professor Salacuse has practiced law with a Wall Street firm, advised numerous governments and multinational corporations on investment law, and has taught at universities throughout the world. He has also served as president and a member of international arbitration tribunals under the auspices of the World Bank's International Centre forSettlement of Investment Disputes ( ICSID). Professor Salacuse is a former dean of the Fletcher School and of the School of Law of Southern Methodist University. He is a member of the American Law Institute and the Council on Foreign Relations.