140 research outputs found
Protection against Indirect Expropriation under National and International Legal Systems
No full textIn recent years, direct expropriation2 has rarely been seen.3 States which wish to import capital do not like to be associated with posing a permanent, non-calculable threat to foreign-owned property but prefer to present themselves as jurisdictions with very stable, reliable and orderly regulatory environments.4 Expropriation, however, has by no means vanished; its execution has just become more subtle.5 Ambiguously or generously worded laws are ‘interpreted’ in a way that suits certain groups in the government or are only enforced when it suits a particular interest; administrative discretion is influenced by factors unrelated to the matter at issue, or administrations fail to conduct their processes in a transparent and comprehensible way. All these measures, turned against a foreign investor, can easily drive him out of business. Virtually all bilateral investment treaties (BITs) and multilateral investment agreements (MITs), therefore, reflect this development and also cover acts of State which may expropriate “indirectly through measures tantamount to expropriation or nationalisation”6 (indirect expropriation7). Moreover, many international investment agreements (IIAs) not only provide rules on (indirect) expropriation but also establish so-called treatment standards “which refer to the legal regime that applies to investments once they have been admitted by the host State.”8 Administrative malfeasance, misfeasance and nonfeasance may also affect the investment adversely without amounting to “indirect expropriation”, constituting a less intense interference with the property. Indeed, there are arbitral awards which, while not accepting a claim based on “indirect expropriation”, established a compensable violation of “treatment standards”, i.e. in particular the “fair and equitable treatment” embodied in BITs or MITs.9 This article will look at six typically posed challenges to foreign investment posed by administrative acts, focusing on the issues of discrimination, mala fide and lack of transparency, and will discuss the response of national and international rules applicable to the situation of indirect expropriation.10 These scenarios are based on Russian legal regulations11 and are inspired by the events in the Commonwealth of Independent States reality but by no means intend to be a reflection of facts. We will show that the internal legal order cannot respond to any of these challenges through striking a just balance between legitimate business interests of the foreign investor and the State’s sovereign right to regulate. Rather, it is the international (contractual) law on foreign investment which offers the clearly more sophisticated framework for a balanced settlement of a foreign investment dispute. Our prediction is that if economies in transition, like Russia, do not start living up to the standards required by international investment agreements quickly, they might face the risk of the marginalization of their national legal orders in the settlement of foreign investment disputes. Such conflicts, which earlier clearly had an “internal component”, would increasingly become international only and would, in this sense, be externalized. This article will start off by providing a brief survey of the present discussion in the literature based on the awards rendered on the subject, on what constitutes a compensable taking in international law (Section A.). It will then turn to certain hypothetical situations (Section B.). These are split into two parts: the first four scenarios deal with State measures which are lawful by national standards (Section B.I.) and the last two scenarios focus on State measures which are unlawful even by national standards (Section B.II.). Finally, it summarizes and evaluates our findings
Challenges for Democratic State Budget Organization
Full text linkThis thought piece is to, at a high level, address modern challenges to the manner budgets are organized in democratic states. To my mind, those challenges are manyfold and interlinked. Therefore,
addressing them is dependent on an understanding of all of them. Clearly, each of the mentioned challenges in itself is intricate and deserves detailed attention. In order for the mentioned interlinks and the need for a succinct reduction of complex issues to succinct metrics become plausible I have chosen to here address the mentioned challenges from a high level and risking to not give justice to detail relevant to every of them. I find this appropriate in particular because of the tendency of intricate issues to be detailed and thereby even more difficult to understand. The discussion below shall start with taking positions of two key moments in history which, I think, are characteristic for the formation of budget rules. This historical review is followed by a discussion on how to ensure the most fundamental of relevant metrics, namely the money value that is the most obvious fundament for a population to usefully budget issues given that a majority of which will not consist of specialists that can quickly detect what is relevant about issues, and discussions around the Euro will be reviewed. Further, the consequences of state commitments to combat n against climate change having added a new type of obligations to be dealt with by state will be discussed. Finally, the consequences of states having taken substantial commitments to support investments, be it in renewable energy, be it in innovation at large, and the need having emerged to address flexible of targets will be discussed, and a summary [email protected]ät Potsdam, GermanyAlumnia J. (2020), Lessons from Financial Assistance to Greece, www.esm.europa.eu, access as of 8 March 2022.Briggs H. (2022), Plastic pollution: Green light for ‘historic’ treaty, Plastic pollution: Green light for ‘historic’ treaty, www.bbc.com, access as of 9 March 2022.Chanturia L. (2010), Juristische Person, Sachenrecht, in Knieper, R., Chanturia L., Schramm H-J., Das Privatrecht im Kaukasus und in Zentralasien, Berliner Wissenschaft sverlag, Berlin.Claes G., Linta, T (2019), The evolution of the ECB-governing councils decision making, www.bruegel.org, access as of 8 March 2022.Crum B., Merlo S. (2020), Democratic legitimacy in the post-crisis EMU, “Journal of European Integration” No. 3.Darvas Z., Domínguez-Jiménez M., Ashling Idé Devins A., Grzegorczyk M., Guetta-Jeanrenaud L., Hendry S., Hoffmann H., Lenaerts, Schraepen T., Tzaras A., Vorsatz V., Weil P. (2022) European Union Countries Recovery and Resilience Plans, www.bruegel.org, access as of 8th March 2022.Demertyis M., Guetta-Jeanrenaud (2022), Europe’s venture capital boom: a new breath of life for entrepreneurship? Breugel Blog, 10 February 2022, www.bruegel.org, access as of 6 March 2022.Dolan C. (2012), Gamekeepers turned coachers, Why cooling-off periods are necessary for ECB supervision, www.transparency.eu, access as of 8 March 2020.Foner E. (1998), Th e Story of American Freedom, W. W. Norton Company, New York, London.Gutbrod M. (2010). Zum Umfang und Sinn demokratischer Legitimation. Zugleich eine Besprechung von Stephan Bredt, Die demokratische Legitimation unabhängiger Institutionen, “Recht und Politik”Gutbrod M. (2021), Klimaschutz, ‘Global Governance’und Russland, www.ostinstitut.de,access as of 9 March 2022.Guttenberg L. (2021), Everything will be different: How the pandemic is changing EU economic governance, www.delorscentre.eu, access as of 7 March 2022.Ilzetzki E., Jia J. (2021), The ECB’s green agenda, www.voxeu.org, access as of 8 March 2022.Janisch W. (2021), Brüssel stellt Verfahren gegen Deutschland ein, www.sueddeutsche.de, access as of 8 March 2021.Knieper R. (2006), Zur Technik der Gesetzgebung in Reformstaaten, in Knieper, Rolf, Rechtsreformen entlang der Seidenstraße, Berliner Wissenschaft sverlag, Berlin.Mann G. (2009), Deutsche Gesichte des 19. und 20. Jahrhunderts, Frankfurt am Main.Mussler W (2020), Niemand will mehr Geld vom ESM, “Frankfurter Allgemeine Zeitung”, www.faz.net, access as of 8 March 2022.O’Boyle B. (2016), Argentinas Return to Honest Accounting Is More Than Just Numbers, www.ameri casquarterly.org, access as of 8 March 2022.Preuss H. (2008) Gesammelte Schriften, Vierter Band, Politik und Verfassung in der Weimarer Republik, Detlef Lehnert, Christoph Müller, Mohr Siebeck (eds.), Tübingen.Tettinger P. J. (2003) in Sachs, M., Grundgesetz, C. H. Beck, München.Thiele A. (2021), Wer Karlsruhe mit Warschau gleichsetzt, irrt sich gewaltig www.verfassungsblog.de, access as of 8 March 2022.Thye M. (2012), Die demokratische Legitimation eines unabhängigen Stabilitätsrats aus Sachverständigen, “Schrift en der Bucerius Law School” I/11.Truman E., Veron N. (2018), Integrity of official statistics under threat, www.bruegel.org, accessas of 8 March 2022Ulrich K. (2004) Decision-Making of the ECB: Reform and Voting Power, ZEW Discussion Papers, www.econstor.eu, access as of 3 March 2022.233
Calculation on the nuclear breathing modes
Full text linkThe collective compressional vibrations are described within the hydrodynamical model and the microscopic theory. We present calculations of the excitation energy, width and transition probability of theT=0 andT=1 breathing modes for the spherical nuclei O16, Ca40, Zr90, Sn120 and Pb208.
I wish to thank Prof. H. Schmidt and Dr. M. Kleber for their constant help and advice during this project. I am also indebted to Dr. P. Ring for the use of his RPA program
Die Rolle des Lehrers im Literaturunterricht unter besonderer Berücksichtigung der Romandidaktik
No full textThe Missing Bit : To Be Substituted by BITs? The Inadequacy of Russian Law as an Example for Indi-rect Expropriation
No full textExternalization of Effective Legal Protection against Indirect Expropriation : Can the Legal Order of Developing Countries Live up to the Standards Required by Inter-national Investment Agreements? A Disenchanting Comparative Analysis
No full textExternalization of Effective Legal Protection against Indirect Expropriation : Can the Legal Order of Developing Countries Live up to the Standards Required by International Investment Agreements? A Disenchanting Comparative Analysis
No full textWas beeinflußt vor allem die Qualität der Mutter-Kind-Interaktion bei sehr kleinen Frühgeborenen : die Mutter, das Kind oder medizinische Komplikationen?
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