This article discusses the wider impact of international arbitration, particularly investor-State arbitration, on State conduct and policy, with particular reference to (1) the continued acceptance (or otherwise) by States of arbitration in light of the outcomes of individual arbitrations to which they are parties, and (2) the phenomenon of ‘regulatory chill’. It is a condensed version of a Keynote Address delivered on 17 October 2017 at the Hong Kong International Arbitration Week.
Asian Dispute Review