Also available as an e-book This monograph considers the ramifications of the legal regime that governs transborder capital flows. This regime consists principally of a network of some 3,000 investment treaties, as well as a growing body of arbitral decisions. Professor Alvarez contends that the contemporary international investment regime should no longer be described as a species of territorial empire imposed by rich capital exporters on capital importers. He examines the evolution of investment treaties and investor-State jurisprudence constante and identifies the connections between these and general trends within public international law, including the increased resort to treaties ( treatification ), growing risks to the law's consistency ( fragmentation ), and the proliferation of forms of international adjudication ( judicialization ). Professor Alvarez also considers whether the regime's efforts to balance the needs of non-State investors and sovereigns ought to be characterized as global administrative law , as a form of constitutionalization , or as an increasingly human-rights-centred enterprise.