DEMOCRATIC DEFICIT OF INVESTMENT ARBITRATION IN THE VIEW OF RULES ON TRANSPARENCY AND MAURITIUS CONVENTION ON TRANSPARENCY

Abstract

This paper presents and analyzes the concept of transparency in investment arbitration, recognized by the UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration and Mauritius Convention on Transparency in Treaty-based Investor-State Arbitration in the perspective of democratic principles of public participation, legitimacy and accountability. It holds that, transparency of investment arbitration endorsed by these documents constitutes a next step in the process of democratizing investment arbitration, contributes to the increase of democratic principles and cures the alleged democratic deficit of Investor— State arbitration.