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5 Baltic J.L. & Pol. 1 (2012)

handle is hein.journals/bjlp5 and id is 1 raw text is: BALTIC JOURNAL OF LAW           & POLITICS
VOLUME 5, NUMBER 1 (2012)
ISSN 2029-0454
Cit.: Baltic Journal of Law & Politics 5:1 (2012): 1-19
DOI: 10.2478/v10076-012-0001-3
Jose Gustavo Prieto Munoz
Simon Bolivar Andean Community University, UASB (Ecuador)
Del Pacifico University, Faculty of Law (Ecuador)
Contact information
Address: Robles 653 y Amazonas, Edif. Proinco, of.709, Quito, Pichincha, Ecuador
Phone: +5932552658
E-mail address: gprieto@inteclawgpm.com
Received: January 10, 2012; reviews: 2; accepted: May 11, 2012.
During the last decade of the twentieth century, international transactions that involve
the movement of capital throughout the world achieved unprecedented frequency of usage.
The consequences of this were felt at international and national levels. On the international
level there was a creation of a great amount of Bilateral Investment treaties (BIT) between
states that regulate and provide substantive norms as well as dispute resolution mechanism
that bring out enormous numbers of unarticulated arbitral decisions. On the national level,
many states modified national legislation to attract foreign investment. These modifications
created a complex system that regulates international transactions. However, during the last
years there have been two trends in investment among developing countries: one that
supports the current legal framework, and another that seeks to find a new ordering of the
field. The present article will explore these trends from the Latin America experience by
analyzing how this law evolved in the region by studying the structure of the investment
regulation of the main integration processes, and finally, by formulating a new understanding
of the way that this type of law should be interpreted while dealing with sensible issues.

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