The evolution of international arbitration: judicialization, governance, legitimacy
The development of international arbitration as an autonomous legal order is one of the most remarkable stories of institution building at the global level over the past century. Today, transnational firms and states settle their most important commercial and investment disputes not in courts, but in arbitral centres, a tightly networked set of organisations that compete with one another for docket, resources and influence. In this work, Alec Stone Sweet and Florian Grisel show that international arbitration has undergone a self-sustaining process of institutional evolution that has steadily enhanced arbitral authority