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Author: search.filters.author.Gonzalo Ruiz DíazSubject: search.filters.subject.Arbitration

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    Who wins in international investment arbitration disputes? Evidence from Latin American and Caribbean countries’ cases under ICSID
    (Faculty of Economics and Administration, 2021-01-01)
    During the nineties, an important group of Latin American and Caribbean (LAC) countries adhered to the International Center for Settlement of Investment Disputes (ICSID) as part of a programme of measures that sought to attract foreign investment to the region. With the aim of exploring the determinants of arbitration outcomes, I use a dataset of 161 concluded disputes until 2019 corresponding to investments in LAC countries, finding evidence on the influence of parties’ characteristics, the subject discussed in cases, and characteristics of the tribunal on the arbitration outcomes. I find that 50% of tribunal decisions have been favourable to either claimant investors or host countries. However, this result may be subject to sample bias if information of settlements and discontinued cases is not taken into consideration. I also find evidence in favour of selection and party capability theories that helps to explain the determinants of international investment arbitration dispute outcomes. In particular, the results reveal that disputes related to direct expropriations have a relatively higher probability of being considered founded by tribunals than other legal controversies. Likewise, the indicators of the relative strength of parties, such as experience in the international arbitration system, have an important influence on tribunal awards. Furthermore, country’s time of experience within ICSID is found to have an important influence on the selection of disputes.
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    What determines the outcomes of public procurement arbitration?
    (Taylor & Francis, 2022-11-23)
    The strengths and weaknesses of arbitration compared to litigation, as a system for solving procurement disputes between governments and their private counterparts has been a subject of debate among scholars. A particularly sensitive topic relates to the impartiality standards of each system and the determinants of its outcomes. Using a unique database of national arbitration resolutions we analyze the determinants of awards in procurement disputes related to public works. Estimating a cross-section model, we find evidence in favor of party capability theory and the influence of institutional factors in arbitration outcomes, like amendments to procurement law or the characteristics of the organization in charge of administering these processes. As well, we find indirect evidence that suggests that adverse outcomes for government entities are related with the lack of individual incentives of officials to settle with private contractors, and the presence of presumably undue influence among private contractors and arbitrators.