间接征收:东道国与投资者的利益博弈——以ICSID仲裁为视角

间接征收反映了长久以来东道国国内公共利益和投资者经济利益之间的博弈。国家基于主权享有对外国投资者财产的征收权，这是传统国际法规则和国际投资法律实践的共识。随着国际经济一体化进程的推进，各国纷纷通过缔结区域性条约和双边投资协定来营造安全稳定的国内投资环境以吸引外资。投资活动升温，东道国和投资者之间关于间接征收的矛盾因此凸显。本文试图结合国际条约、双边投资协定和国际仲裁实践，分析关于间接征收定义及界限、间接征收补偿标准的争论。

The discussion on indirect expropriation reflects the long lasting conflict between the domestic public interest of hosting states and the economic profit of foreign investors. The power to expropriate by a sovereign country has been a well-founded principle in both International legal system and International Investment practice. Nowadays, with the furtherance of economic integration, more and more countries are turning to regional investment treaties and bilateral investment treaties to structure a stable domestic legal circumstance to attract foreign investors for domestic economic promotion. Collateral disputes thus occur between hosing states and foreign investors along with this aforementioned phenomenon. This article intends to analysis the definition and compensation standard of indirect expropriation based on international treaties and international investment arbitration practice.