Final Report Summary - INVESTEUCULT (Investing in Culture towards Economic and Social Development: International and European Law Perspectives)
INVESTEUCULT explored the complex interplay between cultural policies and the economic interests of investors in international investment law and arbitration. INVESTEUCULT addressed the question as to whether cultural heritage has and/or should have any relevance in international investment law and policy. Can states adopt protectionist cultural policies? What are the limits, if any, to state intervention in cultural matters? As a wide variety of cultural policies may interfere with foreign investments, tension exists between the cultural policies of the host state and investment treaty provisions. In some cases, foreign investors have claimed that cultural policies negatively affected their investments, thereby amounting to a breach of the relevant investment treaty provisions.
Against this background, INVESTEUCULT mapped the relevant investor-state arbitrations, proposed legal methods to reconcile the interests at stake and critically assessed the relevant EU policies concerning international investment law and culture. INVESTEUCULT shows that arbitrators have increasingly taken cultural concerns into consideration in deciding cases brought before them contributing to the coalescence of general principles of law demanding the protection of cultural heritage.
Given the fact that arbitral tribunals are selected on an ad hoc basis and there is no such thing as a World Investment Court, mapping and scrutinizing the relevant arbitrations was completed through far-reaching research, interviewing key stakeholders, and attending conferences among others. The case studies have been mapped and analysed according to the traditional elements of international investment law and international cultural law. This double track allows an interdisciplinary approach and a more nuanced evaluation of the complex interplay between the protection of cultural heritage and the promotion of foreign investment in international investment law and arbitration.
The researcher collaborated with prominent experts in the field of international cultural law. The co-organization of, attendance and participation at a number of workshops and international conferences also gave her opportunities to network with leading experts in the field. More importantly, the fellowship allowed the researcher to focus on her research, publishing a number of articles in leading international law journals and book contributions. Most publications relate to specific themes of the current research; others relate to specific aspects of international investment law which also helped the researcher to acquire and develop an in depth knowledge of this field. Most notably, the researcher obtained a publication contract with Cambridge University Press for the publication of the monograph Cultural Heritage in International Investment Law and Arbitration. The conference proceedings of the workshop on Culture and International Economic Law will be co-edited by the researcher and the project coordinator– Professor Bruno De Witte – and published by Routledge in 2014.
MAIN RESULTS
The main academic outcomes of this research project are:
• V. Vadi, Cultural Heritage in International Investment Law and Arbitration (Cambridge: CUP forthcoming 2014);
• V. Vadi and B. De Witte (eds.) Culture and International Economic Law (London: Routledge forthcoming 2014);
• a number of articles, book chapters and working papers on specific themes published in leading international law journals.
The organization of international conferences also helped the researcher in refining her arguments, diffusing the outcomes of her research, and sharpening her legal analysis. A number of articles, book chapters and working papers on various aspects of the proposed theme were submitted at different stages of the advancement of the project in order to provoke academic discussion as well as to stimulate policy makers.
CONCLUSIONS
The Marie Curie Fellowship was instrumental to the development of cutting edge research leading to important and timely results. INVESTEUCULT shows that arbitrators have increasingly taken cultural concerns into consideration in deciding cases brought before them eventually contributing to the coalescence of general principles of law demanding the protection of cultural heritage in times of peace. This important finding complements analogous studies which have proven the emergence of general principles of law (and/or customary law) requiring the protection of cultural heritage in times of war.
THE IMPACT
CONTRIBUTION TO CAREER DEVELOPMENT
The Marie Curie Fellowship allowed the researcher to consolidate her profile in her field of expertise and build her reputation further, by publishing a monograph and a number of articles in highly reputed international journals. Concretely, this led her to reach the position of Reader (Associate Professor), a tenure-track position at the Law School of Lancaster University in the United Kingdom since October 2013. The researcher has also been awarded an Emile Noël Fellowship at the Jean Monnet Centre for International and Regional Economic Law, New York University, United States, for the academic year 2013/2014. The Marie Curie Fellowship had a strong impact on the researcher’s scientific profile and thus her professional prospects. She moved from a junior temporary position within the Dutch academia, to a tenure-track position of Associate Professor in the U.K. and a second post-doc at a top university in the United States.
The Marie Curie Fellowship had a powerful impact on the academic profile of the researcher contributing to the development of her career both in the medium and long-term. In the short term, the fellowship allowed her to research and write on a cutting edge topic, carrying out innovative, challenging and sound research. In parallel, the fellowship had a clear impact on the generation of research output. In terms of outcomes, the researcher wrote the book Cultural Heritage in International Investment Law and Arbitration (Cambridge: CUP forthcoming 2014), is co-editing (with the project coordinator– Professor Bruno De Witte) Culture and International Economic Law (London: Routledge forthcoming 2014) and published shorter contributions on specific themes of the project in international law journals, thus further developing her personal and professional profile and contributing to European excellence.
In the long term, the Marie Curie Fellowship enhanced her chances of rapidly obtaining promotion and a more stable contract situation. The opportunity to have dedicated time to carry out research, the participation to and co-organization of international conferences and academic networks, and the publication of a monograph and a number of articles in top international law journals constituted a major contribution to her career development. The dissemination of the new skills acquired through the Marie Curie Fellowship will directly benefit her future students too, as it will grant them improved supervision and mentorship skills.
CONTRIBUTION TO EUROPEAN EXCELLENCE AND EUROPEAN COMPETITIVENESS
The project included fundamental aspects of European policies, i.e. foreign direct investment (FDI) and cultural policies. FDI is a key means to promote economic and social development. As the EU is the largest source of FDI in the global economy, its strategy and normative framework in this field is of the utmost relevance worldwide. It is unquestionable that international rules on FDI contribute to improving the business climate by increasing legal certainty for investors and by reducing the perceived business risk. In parallel, culture is at the heart of the European integration, and the EU has elaborated sophisticated legal mechanisms to integrate cultural concerns in trade instruments. The INVESTEUCULT project contributed to increase the general awareness of the political and social relevance of the legal protection of cultural heritage. In addition, the project increased the attractiveness of Europe for researchers as it showed that the EU is willing to fund cutting edge innovative and high profile projects in the area of culture and law. This project contributed to European excellence, enriching academic debate, and providing guidance to policy makers in order to reconcile the protection of cultural heritage and the promotion of foreign direct investment towards social and economic development. In this sense, this project also contributed to the debate on global governance and the ‘humanization’ of international and European law. The project generated significant output in terms of publications and organization of an international conference. In addition, the complementary skills acquired during the fellowship will allow the researcher to convey her knowledge in a more effective manner to her peers and students. In sum, for all these reasons, the INVESTEUCULT project may be an illustration of Europe’s commitment to promoting and developing European excellence.
BENEFIT OF THE MOBILITY TO THE EUROPEAN RESEARCH AREA
The researcher operated in a significantly different geographical and working environment; different from the one in which she has studied and/or worked before. A native of Italy, the researcher holds a doctorate in international law from the European University Institute, degrees in international law and political science from the University of Siena, a Master of Research in Law from the European University Institute and a Magister Juris (LLM) in European and Comparative Law from the University of Oxford. She has also completed non degree studies at Fribourg University (CH), University of Geneva, Queen Mary University of London and the London School of Economics. The mobility was genuine as the researcher had not studied in the Netherlands before. The researcher benefitted from a stimulating academic environment, while contributing to it with her specific expertise.
SOCIO-ECONOMIC IMPACTS OF THE PROJECT
The project could not be timelier given the urgency of the problem of cultural loss and diversity depletion. While foreign investment fosters economic development, cultural policies may have an important beneficial effect not only on determined communities and relevant stakeholders, but also on the society as a whole. Thus, it is crucially important to ascertain whether reconciliation between the different interests at stake is possible. As the interplay between international investment law and cultural policies has only recently emerged, INVESTEUCULT addressed a lacuna in legal studies providing a timely, systematic and critical analysis, scrutinizing the increasing large number of investment disputes with cultural elements. The project aims and outcomes impact upon a host of concerns of international and European significance. First, as cultural entitlements are deeply linked to human dignity and human rights, INVESTEUCULT has a high cultural and societal relevance. Particular regard was paid to indigenous communities and minorities that can be peculiarly affected by lack of coherent mainstreaming of cultural concerns into investment policy making. Second, respect for and promotion of cultural entitlements can contribute to constructive 'dialogue among civilizations', and peace. INVESTEUCULT strengthened the growing cognizance of the importance of effective protection and promotion of cultural heritage and diversity for intercultural dialogue and conflict prevention. Third, INVESTEUCULT has theoretical relevance as it built a coherent analysis of the existing legal framework and the relevant case law, offering a critical assessment of recent developments. Finally, the project also had practical relevance as the research results may clarify future directions to be taken by relevant policy makers including governments, the EU organs and the society at large. In particular, this research can provide some guidance to the relevant EU organs dealing with international investment, development and cultural matters. Through its aims and outputs the project fosters international and European sensitiveness concerning economic growth and sustainable development.
TARGET GROUPS SUCH AS POLICY MAKERS OR CIVIL SOCIETY FOR WHOM THE RESEARCH COULD BE RELEVANT.
The research outcomes—in the forms of a monograph, edited collection and articles—will appeal to:
• scholars specialising in international law, international economic law, cultural heritage law, international dispute settlement, human rights and EU external relations.
• policy makers and practitioners, in the cultural sector (government departments);
• investment law firms, arbitrators and practitioners;
• consultancy and non-governmental organizations;
• Universities conducting courses in international law, international investment law, international economic law and international dispute settlement, at graduate and undergraduate levels as well as
• other interested audiences.
As investor state disputes are multiplying, it may be foreseen that interest in such issues will intensify. In order to make the analysis relevant to the different targeted audiences, the language is deliberately kept technical, but efforts are taken to avoid assumptions and to achieve clarity and cohesion. As a result, this study will be of relevance for a wide audience.