论国际投资间接征收判定中的合理期待标准

The Criterion of Legitimate Expectations in the Judgment of Indirect Expropriation of International Investment

阐述了国际投资间接征收合理期待标准的形成和适用问题,认为应予保护的"合理期待"应该产生于明确的基础、具有客观和主观合理性、并且有利于投资者。"政府对投资者合理期待的干预"应该达到使投资者的期待落空的程度。但是,对投资者的保护应平衡东道国的主权利益。

This paper discusses the formation and application of the criterion of legitimate expectations in the indirect expropriation of international investment. The paper finds that the legitimate expectations, which are to be protected, should arise from distinct foundations, should be legitimate both objectively and subjectively, and should be in investors＂ favor. ＂The degree of government＇s interferences with legitimate expectations＂ should reach the point at which the investors are frustrated in their expectations. However, the protection of investors＂ legitimate expectations should balance the interests e f investor sand the sov- ereign interest of the host state.