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• Archive: Reservations in International Investment Agreements are a key technique for balancing flexibility of national authorities with international commitments in the field of investment, especially for developing countries.
• This paper studies the use of such reservations at two levels.
• First, it assesses the various means that signatories have at their disposal when attempting to preserve flexibility and regulatory autonomy.
• Second, it explores the revealed preferences for flexibility emerging from the reservation lists of eight International Investment Agreements employing a negative list approach to scheduling non-conforming measures.