Publication: Arbitrating and Mediating Disputes : Benchmarking Arbitration and Mediation Regimes for Commercial Disputes Related to Foreign Direct Investment
Date
2013-10
ISSN
Published
2013-10
Author(s)
Pouget, Sophie
Abstract
An effective commercial arbitration
regime matters for foreign investors. It gives parties the
autonomy to create a dispute resolution system tailored to
increasingly complex disputes. Foreign investors view
arbitration as a way to mitigate risks by providing legal
certainty on enforcement rights, due process, and access to
justice. The Arbitrating and Mediating Disputes indicators
assess the legal and institutional framework for commercial
arbitration, mediation, and conciliation regimes in 100
economies. All surveyed economies recognize arbitration as a
tool for resolving commercial disputes and only nine
economies have not acceded to the New York Convention on the
Recognition and Enforcement of Foreign Arbitral Awards. In
the Arbitrating and Mediating Disputes indicators, High
Income OECD and Eastern Europe and Central Asia are the
regions that reformed their laws on alternative dispute
resolution the most between 2011 and 2012. The data also
show that, globally, arbitration proceedings take 326 days
on average, while recognition and enforcement proceedings of
foreign arbitral awards take 557 days on average. The
Arbitration and Mediating Disputes indicators are
significantly correlated with perception data on the
importance of alternative dispute resolution, as well as
other measures such as total foreign direct investment
inflows and inflows per capita, the Doing Business 2013
Enforcing Contracts data, the World Bank Group's
Governance Indicators, the World Economic Forum's
Global Competitiveness Indicators, and the Multilateral
Investment Guarantee Agency's World Investment and
Political Risk data. The paper concludes by identifying
several opportunities for improvement, such as greater
flexibility for domestic arbitration regimes, faster
arbitration proceedings, and better domestic court capabilities.
Link to Data Set
Citation
“Pouget, Sophie. 2013. Arbitrating and Mediating Disputes : Benchmarking Arbitration and Mediation Regimes for Commercial Disputes Related to Foreign Direct Investment. Policy Research Working Paper;No. 6632. © World Bank, Washington, DC. http://hdl.handle.net/10986/16849 License: CC BY 3.0 IGO.”
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