Cultural Heritage in International Investment Law and Arbitration [Paperback]

Valentina Vadi assesses whether cultural heritage has and/or should have any relevance in international investment law and policy.Can states adopt protectionist cultural policies? What are the limits, if any, to state intervention in cultural matters? Valentina Vadi explores the 'clash of cultures' between the protection of cultural heritage and foreign investors' interests in international investment law and arbitration.Can states adopt protectionist cultural policies? What are the limits, if any, to state intervention in cultural matters? Valentina Vadi explores the 'clash of cultures' between the protection of cultural heritage and foreign investors' interests in international investment law and arbitration.Can states adopt protectionist cultural policies? What are the limits, if any, to state intervention in cultural matters? A wide variety of cultural policies may interfere with foreign investments, and a tension therefore exists between the cultural policies of the host state and investment treaty provisions. In some cases, foreign investors have claimed that cultural policies have negatively affected their investments, thereby amounting to a breach of the relevant investment treaty. This study maps the relevant investor-state arbitrations concerning cultural elements and shows that arbitrators have increasingly taken cultural concerns into consideration in deciding cases brought before them, eventually contributing to the coalescence of general principles of law demanding the protection of cultural heritage.1. Cultural heritage in international law; 2. International investment law; 3. The World Heritage and foreign direct investment; 4. Underwater cultural heritage and foreign direct investment; 5. Cultural diversity, intangible heritage and foreign direct investment; 6. Indigenous cultural heritage and foreign direct investment; 7. Investing in culture. Vadi tells the story of how non-legal (economic) considerations could benefit from taking into account morl“.