Investment Arbitration and State-Driven Reform: New Treaties, Old Outcomes

States' efforts to reform the international investment regime have triggered an arbitral backlash. In response to shortcomings of earlier investment agreements, states concluded a new generation of investment treaties that actively balances investment protection obligations with host country policy space. These new-generation agreements are more comprehensive, more precise, and include novel features such as general public policy exceptions. This book reviews the first set of awards rendere...