Angeheizt durch den bevorstehenden Abschluss von Verträgen wie CETA und TTIP, hat die aktuell herrschende Debatte über die Möglichkeit einer Schiedsgerichtsbarkeit viele politische Probleme und Komplikationen hervorgerufen. Nichtsdestotrotz ist diese Art von Einigung im Streitfall die beste Möglichkeit für Investoren um ihre Reche aus dem völkerrechtlichen Vertrag geltend zu machen. Um die Vor- und Nachteile aus beiden Lagern abzuwiegen, wird in dieser Arbeit der tatsächliche wirtschaftliche Effekt dieser Klausel überprüft. Durch Vergleiche der direkten Auslandsinvestitionen vor und nach Abschluss des Vertrages, unter Einbeziehung wichtiger Partnerländer, wird überprüft, in wie fern die Schiedsgerichtsklausel einen Einfluss auf das Wirtschaftswachstum getrieben durch Investitionen hat.

Even though investment agreements were meant to serve as a protection against an unstable rule of law, the number of treaties concluded is also on the rise between developed countries. Moreover, they started to include at least some kind of possibility to arbitrate specific provisions in front of a tribunal. By now, the all-encompassing umbrella clause for investor-state dispute settlement has arrived as a common standard in the international agreements of today. From a legal point of view, the possibility of arbitration is an important mean to grant certain rights to an investor to defend vital interests and invoke those privileges in front of a tribunal. For businesses, it is of essential importance to give force to the agreements concluded and decrease legal uncertainty. However, the topic is heatedly discussed in politics and in the public eye, especially surrounding the pending conclusion of agreements like CETA or TTIP. Arbitration is seen as a way to influence state decisions, as nations fear liability for their actions. Therefore, this thesis analyses if and how such clauses show valuable effects on economic growth through higher foreign direct investments in order to evaluate the benefits and drawbacks from a cross-disciplinary perspective.