Investment arbitration is at the cutting edge of international law and dispute resolution, and is predicted to be a major factor in the development of the global economic system in years to come. This one-volume monograph contains contributions from leading experts on a wide range of topics of both theoretical importance and practical implication that will affect the future of investment arbitration. The highly innovative chapters combine to form a constructive and valuable discussion for all in the arbitration field. The contributors, chosen to represent the full spectrum of perspectives, are leading arbitration experts from all over the world, including ICSID insiders, US government officials, UNCTAD research personnel, seasoned investment arbitrators and counsel, and renowned legal scholars.

The book is divided into three themes, with the first centering on the adequacy of UNCITRAL and ICSID arbitration rules, with particular attention to recent and proposed changes. The second theme focuses on the future of bilateral investment treaties, discussing trends in the interpretation of treaty provisions and the debate concerning the efficacy of the treaties in benefiting developing countries. The third theme revolves around the public function of investment arbitration decisions, including the use of arbitration to resolve disputes between sovereigns and the arbitrators' role as a guardian of international public policy.

The Future of Investment Arbitration is unique in its outstanding range of topics and the expertise of the contributors. It previews and guides future directions in the field, as well as discussing the larger policy implications of specific rules. It includes cutting-edge analysis of empirical research regarding BITS that is essential to evaluating many assumptions about investment law and arbitration. Finally, the book takes a broad perspective, examining the rules discussed within the larger structural context of investment arbitration, and drawing investment arbitration into the wider setting of international law and corporate governance.

About the Author:
Roger P. Alford is an associate professor of law at Pepperdine Law School. Professor Alford served as a senior legal advisor with the Claims Resolution Tribunal for Dormant Accounts in Switzerland, the tribunal established by the Volcker Commission to resolve claims to Holocaust-era dormant Swiss bank accounts.

Catherine A. Rogers is a professor at Penn State Law School, where she teaches and writes in the areas of international arbitration and professional legal ethics. Professor Rogers' scholarship focuses on the convergence of the public and private in international adjudication, and on the reconceptualization of the attorney as a global actor. Professor Rogers is an Associate Reporter for the American Law Institute's Restatement of the Law (Third) of International Commercial Arbitration. She has taught, lectured around the world and published extensively on topics of international arbitration and global legal ethics. Her scholarship has been selected for various prizes and distinctions, including two Stanford-Yale Junior Faculty Fora.