A central development in international law is the intensified juridification of international relations by a growing number of international courts. With this in mind, this book discusses how international judicial authority is established and managed in key fields of international economic law: trade law, investor-state arbitration and international commercial arbitration. Adopting a unique legal-centric approach, the analysis explores the interplay between these areas of economic dispute resolution, tracing their parallel developments and identifying the ways they influence each other on processual mechanisms and solutions. Drawing together contributions from many leading scholars across the world, this volume considers issues such as the usage of precedent and the role of legitimacy, suggesting that the consolidation of judicial authority is a universal trend which impacts on state behaviour.
Part I. Courts in International Economic Law - Emergence, Interplay and Proliferation: 1. Assessing the impact of WTO and regional dispute resolution mechanisms on the world trading system David A. Gantz; 2. Establishing permanent regional good offices for trade disputes in Asia Chang-fa Lo; 3. African regional judiciaries and their jurisprudence in trade law matters Amos Saurombe; 4. Coordinated actions in international economic law as illustrated by investment treaty arbitration and World Trade Organization (WTO) disputes Greg Tereposky and Laura Nielsen; Part II. The Development and Usage of Precedents in International Economic Law: 5. Minority rules: precedent and participation before the WTO Appellate Body Joost Pauwelyn; 6. The welfare implications of precedent in international law Krzysztof J. Pelc; 7. Features of trade law adjudication and their impact on the development of legal concepts and precedents Anton K. Schnyder and Stefanie Pfisterer; Part III. Legitimating Decisions in International Economic Law: 8. Judicial ethics in international economic law: what standards of independence and impartiality apply to arbitrators and panelists? Krista Nadakavukaren Schefer; 9. Judicial authority and styles of reasoning: self-presentation between legalism and deliberation Ingo Venzke; 10. Global citizens in international commercial arbitration and WTO dispute resolution Joanna Jemielniak and Laura Nielsen; 11. Proportionality analysis and international commercial arbitration: the example of public policy and domestic courts Benedikt Pirker.