There is a long-standing claim and ambition in international investment law that treaties and customary law contribute to economic development in countries hosting investment. However, this claim remains controversial and has been hotly debated among academics. The article explores how international investment law, understood as international investment agreements (IIAs) and their associated dispute settlement mechanisms, can support the right to development. It does so by analysing how rules regarding protection and flow of foreign direct investment have and can contribute to realizing the right to development and help achieve sustainable development goals. It finds that IIAs have had limited effects for promotion of investment into or restricting the policy space for least developed and low-income countries. It argues that potential effects of IIAs cannot be properly understood without taking into account other means of protecting and promoting foreign direct investment, i.e., national investment legislation and contracts. So far, national investment legislation is likely to have had more significant impact on flows of foreign direct investment and policy space of host countries than IIAs. Reforms of IIAs to increase synergies with the right to development will, therefore, have to be based on knowledge about and assessments of the dynamics between IIAs, domestic investment legislation, and investment contracts.

中文翻译：

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支持发展权的国际投资法？

国际投资法长期以来一直声称条约和习惯法有助于投资所在国的经济发展。然而，这一说法仍然存在争议，并在学术界引起了激烈的争论。本文探讨了国际投资法，即国际投资协定 (IIA) 及其相关的争端解决机制，如何支持发展权。它通过分析有关保护和外国直接投资流动的规则如何有助于实现发展权和帮助实现可持续发展目标来做到这一点。它发现，国际投资协定在促进对最不发达国家和低收入国家的投资或限制政策空间方面的作用有限。它认为，如果不考虑保护和促进外国直接投资的其他手段，即国家投资立法和合同，就无法正确理解国际投资协定的潜在影响。迄今为止，与国际投资协定相比，国家投资立法对外国直接投资流动和东道国政策空间的影响可能更大。因此，为增强与发展权的协同作用而进行的国际投资协定改革必须基于对国际投资协定、国内投资立法和投资合同之间动态的了解和评估。与国际投资协定相比，国家投资立法对外国直接投资流动和东道国政策空间的影响可能更大。因此，为增强与发展权的协同作用而进行的国际投资协定改革必须基于对国际投资协定、国内投资立法和投资合同之间动态的了解和评估。与国际投资协定相比，国家投资立法对外国直接投资流动和东道国政策空间的影响可能更大。因此，为增强与发展权的协同作用而进行的国际投资协定改革必须基于对国际投资协定、国内投资立法和投资合同之间动态的了解和评估。