The Right to Regulate in International Investment Law

Nomos, Hart Publishing 2014

Rolf H Brunswig PhD Prize 2014


Since the inception of the international investment law system, investment promotion and protection have been the raison d’être of investment treaties and states have confined their policy space in order to attract foreign investment and protect their investors abroad. Languishing in relative obscurity until recently, the right to regulate has gradually come to the spotlight as a key component of negotiations on new generation investment agreements around the globe. States and regional organisations, including, notably, the European Union and the United States, have started to examine ways in which to safeguard their regulatory power and guide – and delimit – the interpretive power of arbitral tribunals, by reserving their right to pursue specific public policy objectives. The monograph explores the status quo of the right to regulate, in order to offer an appraisal and a reference tool for treatymakers, thus contributing to a better understanding of the concept and the broader discourse on how to enhance the investment law system’s legitimacy.


“a reliable legal insight into a politically highly sensitive topic” — Prof Dr Frank Hoffmeister, Archiv des Völkerrechts

“The book provides expert analysis of various provisions of international investment agreements safeguarding the right to regulate. As such, it is valuable to academics, advanced students of international law and practitioners and particularly to negotiators of these agreements, because it demonstrates which drafting can best protect state’s regulatory powers.” — Ondrej Svoboda, The Lawyer Quarterly

“Dr. Titi has succeeded in exposing with great clarity and precision a highly technical and controversial legal topic and the book will definitively constitute a relevant reference for both academics and practitioners on the interpretation and revision of the right to regulate in international investment law.” — Federica Cristani, European Journal of Risk Regulation

“un trabajo científico de alta calidad, en el cual la autora muestra poseer habilidades artesanales a la hora de ir ensamblando las innumerables piezas del complejísimo rompecabezas que desea mostrar al lector. Dado que esta minuciosidad científica va además respaldada por un exquisito manejo del inglés jurídico, el resultado final no puede ser sino una monografía de lectura muy recomendada para los juristas interesados en el arbitraje internacional de inversiones.” — Katia Fach Gómez, Profesora titular, Universidad de Zaragoza, Revista electrónica de estudios internacionales