Foreign State Immunity and Foreign Government Controlled Investors

David Gaukrodger
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David Gaukrodger: OECD

No 2010/2, OECD Working Papers on International Investment from OECD Publishing

Abstract: Discussions at the “Freedom of Investment” Roundtables, hosted by the OECD Investment Committee, have stressed that increased investments by foreign State-controlled investors can bring significant benefits to home and host societies, but have also noted that they can raise concerns. This paper examines two principal issues concerning foreign State-controlled investors: whether the doctrine of foreign state immunity may make it difficult for private parties to pursue legitimate claims against them and whether that doctrine creates regulatory enforcement gaps for host countries. Although the restrictive approach to immunity is now widely recognised, important issues, such as whether the financial investment activities of a sovereign wealth fund are commercial or sovereign acts, remain uncertain. In the area of regulation, the paper analyses state policies in the area of tax, competition law and criminal law, and notes key factors that may influence immunity in such cases.

Keywords: antitrust; central banks; competition law; foreign government controlled investors; foreign sovereign immunity; foreign state immunity; international investment law; regulation; sovereign wealth funds; state immunity; state-controlled investors; state-owned enterprises; taxation (search for similar items in EconPapers)
JEL-codes: F21 F23 G28 H82 K21 K33 K34 (search for similar items in EconPapers)
Date: 2010-08-01
New Economics Papers: this item is included in nep-ifn
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Persistent link: https://EconPapers.repec.org/RePEc:oec:dafaaa:2010/2-en

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