The Calvo Doctrine proposed to prohibit diplomatic intervention before local resources were exhausted.
2.
The book contained the essence of what has come to be known as the Calvo Doctrine.
3.
The tension between the Hull formula and the Calvo Doctrine is still of importance today in the law of international investment.
4.
Specifically, in Latin America, the Calvo Doctrine was devised to avoid the invocation of diplomatic protection by Western nationals.
5.
Article 27 went beyond the Calvo Doctrine, declaring that only native-born or native Mexicans could have property rights in Mexico.
6.
It grew from the ideas expressed by Carlos Calvo in " Derecho internacional te�rico y pr�ctico de Europa y Am�rica ", commonly known as the Calvo Doctrine.
7.
The opposing position has been taken mainly by developing countries, claiming that the question of compensation should be left entirely up to the sovereign state, in line with the Calvo Doctrine.
8.
While Hay admitted Mexico's responsibility, he replied that there is " no rule universally accepted in theory nor carried out in practice which makes obligatory the payment of immediate compensation . . . " The so-called " Hull formula " has been adopted in many treaties concerning international investment, but is still controversial, especially in Latin American countries, which historically have subscribed to the Calvo Doctrine, which among other things, suggests that compensation is to be decided by the host country and that as long as there is equality between nationals and foreigners and no discrimination, there cannot be any claim in international law.
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