This text analyzes basic aspects of the doctrine called “Regulatory Takings”, its relationship with Bilateral Investment Treaties, and how both factors have encouraged a global acceptance of this thesis. Property rights and expropriations really imply an analysis of many other issues related to political economy, public policy and how a particular interpretation of property rights affects many countries, especially in Latin America, Middle East, and other developing regions in the world. The current scenario in Latin America is such that there is inequality in the understanding of property rights and the efficiency of its protection. Therefore, countries without a clear acceptance of the free market have a very weak basis for the protection of property rights. On the other hand, countries with a clear and strong acceptance and implementation of the free market have a solid basis for knowledge and protection of property rights. The change in the acceptance of free market system and the increasing criticism of it in developing countries could affect the real application of the notion of “regulatory takings”.
- Regulatory Takings,
- Bilateral Investment Treaties,
- property rights,
- developing countries,
- Foreign Direct Investment,
Available at: http://works.bepress.com/crispulo_marmolejo_gonzalez/26/