Journal Article

Biased arbitrators and tribunal decisions against developing countries: Stylized facts on investor-state dispute settlement


  • Nunnenkamp
  • P.
Publication Date

Based on UNCTAD’s database on investor-state dispute settlement (ISDS), we find that many cases raised against developing countries are handled by fairly unbiased tribunals. As for ISDS outcomes, the overall ratio of investor wins over state wins is below one. Nevertheless, it is harder for developing countries, compared to high-income countries, to achieve state wins in international arbitration of investment disputes.


JEL Classification

Key Words

  • arbitration tribunals
  • biased arbitrators
  • developing countries
  • Entwicklungsländer
  • investor-state dispute settlement