This blog was originally published on Illuminem, and has been co-authored with Rhian-Mari Thomas. She is the CEO...
Financing Climate & Sustainable Development / Report
Diagnosing how the sovereign ceiling functions as a simplifying shortcut that can obscure meaningful differences across borrowers, and proposing an alternative credit rating approach based on disaggregating sovereign risk into specific transmission channels.
International investment protection standards are the result of a “dilatory formula compromise,” i.e. a formal compromise without agreement on its precise content, due to historical reasons. Their development is mainly through arbitral awards and scholarly writings in the absence of the further involvement of the contracting parties, which raises legitimacy issues.
A translation in Mandarin is also available via the “Download Resources” button.
