(Un)Sustainable Development(s) in International Economic Law: A Quest for Sustainability
Abstract
:1. Introduction
2. Sustainable Development in International Economic Law
2.1. Setting the Stage
2.2. Sustainable Development and World Trade Law
2.3. Sustainable Development and Transnational Investment Law and Arbitration
2.4. Sustainable Development and Global Financial Regulation
3. Sustainable Development and the State
4. Sustainable Development and Non-State Actors
5. From Sustainable Development to Sustainability
5.1. An(Other) Unsustainability of Sustainable Development
5.2. Shades of Sustainable Public Interest in Global Economic Law and Governance
5.3. The Way Forward: From Sustainable Development in International Economic Law to Sustainability in Global Economic Law and Governance
6. Conclusions
Funding
Acknowledgments
Conflicts of Interest
References and Notes
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Modern Welfare State (from Bretton Woods to Mid-20th Century Model) | From Developmental Planning to Developmental State | Technocratic State (Neo-Liberal Model) | |
---|---|---|---|
Trade and industry | —Certain degree of state interventionism, especially in stimulating the aggregate demand —Certain accumulation of productive capacity —Certain degree of trade protectionism | —Certain degree of state interventionism, especially in stimulating the aggregate demand —Increased accumulation of productive capacity —General industrialization —Import substitution —Diminishing export promotion —Certain degree of trade protectionism | —Stimulation of aggregate supply —Increase of/stimulation of consumption —Industrial privatization —Import promotion —Export-oriented growth (for the Global South countries) —Gradual trade liberalization and deregulation |
Investment | —State investment in public health, education, etc. —Stimulation of domestic public and private investment in infrastructure, energy production —Mix of foreign direct investment and stimulation of domestic investment, especially private, in productive capacity —State investment in human capital and public services | —State investment in public health, education, etc. —Public investment in infrastructure, energy production —Stimulation of domestic investment, especially private, in productive capacity, including manufacturing —Enhanced state investment in human capital and public services | —Investment liberalization, including privatization of health, education, etc. services —Increased FDI in infrastructure, energy production —Increased FDI in productive capacity —Underinvestment in human capital and public services (and the unprecedented stimulation of and rise of private sector careers) |
Finance | —State financial risk regulation and supervision —Certain (though, declining over time) degree of state interventionism in exchange controls and over incoming/outgoing capital | ? | —Privatization of risk management —State retreat from, and deregulation of exchange controls and incoming/outgoing capital —Deregulation of, and creation of, a permissive market for (now transnational) banking services |
Modern Welfare State (from Bretton Woods to Mid-20th Century Model) | From Developmental Planning to Developmental State | Technocratic State (Neo-Liberal Model) | Sustainable Development and the State | |
---|---|---|---|---|
Trade and industry | —Certain degree of state interventionism, especially in stimulating the aggregate demand —Certain accumulation of productive capacity —Certain degree of trade protectionism | —Certain degree of state interventionism, especially in stimulating the aggregate demand —Increased accumulation of productive capacity —General industrialization —Import substitution —Export promotion —Certain degree of trade protectionism | —Stimulation of aggregate supply —Increase of/stimulation of consumption —Industrial privatization —Import promotion —Export-oriented growth (for the Global South countries) —Gradual trade liberalization and deregulation | —Sustainable growth —Sustainable production and consumption —Private-/self-regulation-/or sustainability- standards and codes —Responsible trade liberalization —SDG no.17.10 … |
Investment | —State investment in public health, education, etc. —Stimulation of domestic public and private investment in infrastructure, energy production —Mix of foreign direct investment and stimulation of domestic investment, especially private, in productive capacity —State investment in human capital and public services | —State investment in public health, education, etc. —Public investment in infrastructure, energy production —Stimulation of domestic investment, especially private, in productive capacity, including manufacturing —Enhanced state investment in human capital and public services | —Investment liberalization, including privatization of health, education, etc. services —Increased FDI in infrastructure, energy production —Increased FDI in productive capacity —Underinvestment in human capital and public services (and the unprecedented stimulation of and rise of private sector careers) | —Sustainable FDI —‘Green’ investment —Investment in substitutability —SDG no.17.10 … |
Finance | —State financial risk regulation and supervision —Certain degree of state interventionism in exchange controls and over incoming/outgoing capital | ? | —Privatization of risk management —State retreat from, and deregulation of, exchange controls and incoming/outgoing capital —Deregulation of, and creation of, a permissive market for (now transnational) banking services | —‘Green’ portfolio investment —Responsible project finance —SDG no.17.13 … |
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Aseeva, A. (Un)Sustainable Development(s) in International Economic Law: A Quest for Sustainability. Sustainability 2018, 10, 4022. https://doi.org/10.3390/su10114022
Aseeva A. (Un)Sustainable Development(s) in International Economic Law: A Quest for Sustainability. Sustainability. 2018; 10(11):4022. https://doi.org/10.3390/su10114022
Chicago/Turabian StyleAseeva, Anna. 2018. "(Un)Sustainable Development(s) in International Economic Law: A Quest for Sustainability" Sustainability 10, no. 11: 4022. https://doi.org/10.3390/su10114022