Acordos bilaterais de investimento e o Policy Space dos países importadores de capital: incidência do Chilling Effect

Abstract

The purpose of this work is to discuss the effect of the Bilateral Investment Treaties (BITs) and their dispute settlement system on the policy space of the countries receiving these investments. In this sense, it is necessary to define the BITs and the scope of the commitments contained in their clauses, and also to distinguish the dispute settlement mechanisms that these treaties make available to the investor, from this the phenomenon of the loss of policy space is observed, taking into account two main axes: the loss of space for national development policies and the occurrence of regulatory chill. Within the discussion of regulatory chill, the hypothesis of the use of dispute settlement mechanisms as a strategy of some industries to inhibit the state's regulatory effort will be explored.