Spain and Investment Arbitration: The Renewable Energy Explosion

In the past decade, Spain’s generous incentive system for renewable energy production attracted substantial foreign and national investment. However, when the global financial crisis hit, and the consequent reduction of electricity consumption, the incentives began to cause a tariff deficit in the electricity system, leading the Spanish government to cut back and then eliminate the incentives. In the wake of losses, international investors turned to investment arbitration, while national investors could only present their claims before Spanish courts. The result was a potential for differential treatment between national and foreign investors. This paper examines the incentive regime and the government’s changes to it in order to understand the investors’ claims and the reasoning that resulted in their rejections, both in national courts and in the only arbitration award issued up to now. The paper concludes with a discussion of the effect of the renewable energies situation on the investment arbitration debate within Spanish civil society.

Populismos y democracias defectuosas en El Ecuador (1996-2012): continuidades y diferencia

From 1995 to 2015, Ecuador experienced one of its longest periods of deep political, social and economic crisis. During this interval, three democratically elected governments (Bucaram, 1997; Mahuad, 2000 and Gutiérrez, 2005) were overthrown and a critical juncture arose in 2006 as a result. Since 2007, and as a consequence of these chaotic circumstances, new populist strongmen ascended and, amid the biggest bonanza of oil revenues in Ecuadorian history, established a defective democracy. The gradual escalation of authoritarian tendencies during the three consecutive terms in which Rafael Correa has acted as President, have resulted in the severe weakening of the country’s democratic institutions, since Correa’s has strived to perpetuate himself in power through continual re-election into office, instead of building an institutional quality-democracy. This study aims to clarify the historical foundations of the recurrence of caudillistas, populist and authoritarian governments in Ecuador, revealing the basis of the specific path dependence of Ecuadorian politics. We also explore the Jungian theory, specifically the “pseudo-hero myth”, as the political narrative which Correa’s regime successfully employed to establish its hegemony. Additionally, we perform a psychological-political case analysis by examining the social psychology components underlying the Ecuadorian path dependence towards authoritarian and populist caudillos: Specifically, our case study is framed within historical institutionalism, which focuses on methodological individualism to attend various political science and psychological-political theories...