CALVO DOCTRINE Meaning and
Definition
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The Calvo Doctrine is a legal and diplomatic principle that was first articulated by the Argentine diplomat and jurist, Carlos Calvo, in the late 19th century. It refers to a doctrine that prescribes that foreigners or foreign investors are not entitled to diplomatic protection from their own governments in foreign countries but rather must rely on the laws and legal institutions of the host country.
According to the Calvo Doctrine, foreign investors and individuals must resolve their disputes through local legal systems and are not allowed to seek intervention or protection from their home country. This principle is based on the notion of national sovereignty and the belief that the laws and institutions of the host country should prevail in any commercial or legal dispute. It emphasizes equal treatment under the law for both foreign and domestic individuals and businesses.
The Calvo Doctrine has been particularly relevant in the context of sovereign debt and expropriation disputes, as it limits the ability of foreign individuals and companies to seek international arbitration or any other form of external intervention in cases of conflicts with the host country. It has been adopted by various Latin American countries and influenced their approach to foreign investment and commercial disputes. However, it has also been subject to criticism for potentially discouraging foreign investment and making host countries less accountable for their actions in international disputes.
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Etymology of CALVO DOCTRINE
The term "Calvo Doctrine" is named after the Argentine jurist and diplomat Carlos Calvo.
Carlos Calvo (1824-1906) was an Argentine lawyer and scholar known for his work on international law. He developed a legal principle known as the "Calvo Clause" or the "Calvo Doctrine". The doctrine aimed to protect the sovereignty of Latin American nations and their citizens by limiting foreign influence and avoiding intervention from external powers.
The term "Calvo Doctrine" is derived from Carlos Calvo's last name and refers to this legal principle he advocated for.
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