'Reservation List' in International Investment Agreement : A Better Way to Secure Regulatory Autonomy for Host Countries

The beauty of international investment law is the balance of regulatory power of host countries with foreign investment protections. Many scholars introduced various flexibility devices for host countries to secure their policy space. However, they realized practical difficulties implementing those devices because of dramatically unequal bargaining power between host countries and home countries. What are the alternative flexibility devices that could overcome this unequal bargaining power problem? This article is the first one to introduce the reservation list as a solution to the problem. The reservation list is regarded as a practical and realistic solution to securing policy space among many real-world investment treaty negotiators. This article examines comparative advantages of using the reservation list and some caveats in preparing the list