Brazil and Disputes with Foreign Investors
COMÉRCIO INTERNACIONAL E DESENVOLVIMENTO - UMA PERSPECTIVA BRASILEIRA, R. Di Sena Jr. & M.T. Costa Souza Cherem, eds., pp. 156-187, São Paulo, Saraiva, 2004
38 Pages Posted: 13 Aug 2010
Date Written: March 1, 2004
This article in Portuguese language traces the roots of the Brazilian resistance against international arbitration as a means for settling disputes with foreign investors. It sketches how all bilateral treaties on the protection of foreign investments signed by the Brazilian government have systematically been rejected by the Brazilian Parliament. The arguments forwarded for this rejection show that the notorious Calvo doctrine is everything but dead. This paper argues that the foundations of the Calvo doctrine can hardly be ignored. Brazil's resistance and the persistence of the Calvo doctrine give valuable insight on how the present investment dispute settlement mechanisms contained bilateral and multilateral investment treaties could be adapted in order to remove their "imperialist" image and gain broader global acceptability.
Keywords: Brazil, arbitration, investment, disputes, ICSID, Calvo
JEL Classification: F13, F21, F23, K33, K41
Suggested Citation: Suggested Citation