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.
Valentina Vadi is an Associate Professor in International Economic Law at Lancaster University. She was previously an Emile Noel Fellow at the Jean Monnet Centre for International and Regional Economic Law, New York University, and a Marie Curie Fellow at Maastricht University. Her main areas of research are in international economic law and international cultural law.
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.