Part I Contents, History, and Structure of International Economic Law, III The Actors of International Economic Law

Subject(s):

Human rights remedies — NGOs (Non-Governmental Organizations) — International investment law — International monetary law

This chapter discusses the actors participating in international economic law. In international law, the primary legal subjects have always been States. However, the scope of actors in international economic relations reaches well beyond international legal subjects in the strict sense. International non-governmental organizations (NGOs), transnational corporations, non-formal governmental forums, and inter-agency cooperations shape today’s international economic scene and influence the formulation of rules and standards. In addition, the development of human rights standards and the possibility of investors to bring claims against a State before the International Centre for Settlement of Investment Disputes (ICSID) have strengthened the role and the legal standing of companies and individuals in international economic relations.