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Liberalization Of Trade In Financial Services
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Book Synopsis Explaining Liberalization Commitments in Financial Services Trade by : Ludger Schuknecht
Download or read book Explaining Liberalization Commitments in Financial Services Trade written by Ludger Schuknecht and published by World Bank Publications. This book was released on 2003 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors examine the determinants of market access commitments in international financial services trade in the General Agreement on Trade in Services (GATS). Based on a theoretical model, they investigate empirically the role of domestic political economy forces, international bargaining considerations, and the state of complementary policy. The empirical results confirm the relevance of the authors' model in explaining banking and (to a somewhat lesser degree) securities services liberalization commitments. The findings imply that those who seek greater access to developing country markets for financial services must do more to counter protectionism at home in areas of export interest for developing countries.
Book Synopsis Liberalization of Trade in Financial Services and Financial Sector Stability (Empirical Approach) by : Mr.Alexei Kireyev
Download or read book Liberalization of Trade in Financial Services and Financial Sector Stability (Empirical Approach) written by Mr.Alexei Kireyev and published by International Monetary Fund. This book was released on 2002-08-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper explores empirically the links between the WTO-driven liberalization of trade in financial services and the stability of national financial systems. Econometric testing of indicators intended to proxy financial sector stability-subdivided into exchange rate and banking sector stability-suggests that opening of the financial sector is an efficient policy instrument at the disposal of the authorities for achieving a variety of macroeconomic goals. While liberalization is found to be broadly conducive to stability, the outcome of liberalization on exchange rate stability is less predictable than on banking sector stability.
Book Synopsis Financial Services Liberalization in the WTO by : Wendy Dobson
Download or read book Financial Services Liberalization in the WTO written by Wendy Dobson and published by Washington, DC : Institute for International Economics. This book was released on 1998 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: The stakes were high in the financial services negotiations that were completed in December 1997 at the World Trade Organization (WTO). The developing countries were eager to strengthen and modernize their financial systems. The industrial countries sought access to important emerging markets in Latin America and Asia for their banking, insurance, brokerage, and other financial services firms. In the end, both sides agreed to bind unilateral and regional financial opening and reform that was already under way in many countries, industrial and developing alike. The authors assess the agreement reached in the WTO, identifying its shortcomings and suggesting ways that it can be bolstered in future negotiations. They analyze the impact of the agreement, and of the Asian financial crisis, on the state of liberalization and market opening in several important emerging-market economies--including a summary of the remaining obstacles to establishing efficient and open financial sectors. This book estimates the benefits of opening the financial sector to foreign competition. It assesses the macroeconomic benefits that flow from an improved financial sector and discusses the risks and costs involved in liberalization. The authors conclude with a blueprint for future efforts to liberalize financial services and emphasize that the recent financial services agreement represented only a beginning step in that process.
Book Synopsis Liberalizing Trade in Services by : Bernard M. Hoekman
Download or read book Liberalizing Trade in Services written by Bernard M. Hoekman and published by World Bank Publications. This book was released on 2006 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Since the mid 1980s a substantial amount of research has been undertaken on trade in services. Much of this is inspired by the World Trade Organization or regional trade agreements, especially the European Union, but an increasing number of papers focus on the impacts of services sector liberalization. This paper surveys the literature, focusing on contributions that investigate the determinants of international trade and investment in services, the potential gains from greater trade (and liberalization), and efforts to cooperate to achieve such liberalization through trade agreements. It concludes that there is increasing evidence that services liberalization is an important source of potential welfare gains, but relatively little research has been done that can inform the design of international cooperation-both trade agreements and development assistance-so as to more effectively promote development objectives.
Book Synopsis Trade Liberalization and the Politics of Financial Development by : Matias Braun
Download or read book Trade Liberalization and the Politics of Financial Development written by Matias Braun and published by World Bank Publications. This book was released on 2005 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A well developed financial system enhances competition in the industrial sector by allowing easier entry. The impact varies across industries, however. For some, small changes in financial development quickly induce entry and dissipate incumbents' rents, generating strong incentives to oppose improvement of the financial system. In other sectors incumbents may even benefit from increased availability of external funds. The relative strength of promoters and opponents determines the political equilibrium level of financial system development. This may be perturbed by the effect of trade liberalization in the strength of each group. Using a sample of 41 trade liberalizers Braun and Raddatz conduct an event study and show that the change in the strength of promoters vis--̉vis opponents is a very good predictor of subsequent financial development. The result is not driven by changes in demand for external funds, or by the success of the trade policy. The relationship is mediated by policy reforms, the kind that induces competition in the financial sector, in particular. Real effects follow not so much from capital deepening but mainly through improved allocation. The effect is stronger in countries with high levels of governance, suggesting that incumbents resort to this costly but more subtle way of restricting entry where it is difficult to obtain more blatant forms of anti-competitive measures from politicians. This paper--a product of the Investment and Growth Team, Development Research Group--is part of a larger effort in the group to understand the relation between finance and the macroeconomy"--World Bank web site.
Book Synopsis Financial Services and the World Trade Organization by : Aaditya Mattoo
Download or read book Financial Services and the World Trade Organization written by Aaditya Mattoo and published by World Bank Publications. This book was released on 1999 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is difficult to design and implement an effective safety net for banks, because overgenerous protection of banks may introduce a risk-enhancing moral hazard and destabilize the very system it is meant to protect. The safety net that policymakers design must provide the right mix of market and regulatyory discipline, enough to protect depositors without unduly undermining market discipline on banks.
Book Synopsis Measuring Services Trade Liberalization and Its Impact on Economic Growth by : Aaditya Mattoo
Download or read book Measuring Services Trade Liberalization and Its Impact on Economic Growth written by Aaditya Mattoo and published by World Bank Publications. This book was released on 2001 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries that fully liberalize their telecommunications and financial services sectors may be able to expect economic growth rates up to 1.5 percentage point higher than rates in other countries.
Book Synopsis Trade Agreements And Financial Services by : Hazel J Johnson
Download or read book Trade Agreements And Financial Services written by Hazel J Johnson and published by World Scientific. This book was released on 2003-01-06 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade Agreements and Financial Services examines the cross-border agreements that have historically been focused on the trade of merchandise goods. Increasingly, emphasis is being placed on the provision of cross-border services. Notable among these are financial services. There is a clear link between economic development and the availability of financial products. Moreover, the financial services sector is, itself, a major industry that is fueling growth. The conditions under which financial services are offered in an international context are the subject of debate in the Western Hemisphere, Europe, Asia, and Latin America.
Book Synopsis Trade in Financial Services and Capital Movements by : Ms.Natalia T. Tamirisa
Download or read book Trade in Financial Services and Capital Movements written by Ms.Natalia T. Tamirisa and published by International Monetary Fund. This book was released on 1999-07-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: International financial liberalization may alter saving-investment imbalances and patterns of capital flows across countries. In a panel of OECD countries for 1990–96, this study examines how the liberalization of capital movements and financial services trade affects net private capital flows. Capital inflows tend to fall (rise) with the liberalization of commercial presence in banking and securities (insurance) services, possibly reflecting an increase (decrease) in saving. Capital account liberalization is found to stimulate capital inflows, suggesting that better access to external financing helps sustain larger fiscal and current account deficits. When cross-border trade is liberalized, capital flows change insignificantly.
Book Synopsis International Trade in Services by : Mr.Alexander Lehmann
Download or read book International Trade in Services written by Mr.Alexander Lehmann and published by International Monetary Fund. This book was released on 2003-12-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the characteristics of international trade in services and of the World Trade Organization’s General Agreement on Trade in Services (GATS) framework, which was established to regulate it. Further liberalization of services trade in developing countries, as currently envisaged in the context of the WTO Doha Development Agenda, holds a number of potential benefits, such as underpinning the liberalization of goods trade, but it is also being resisted due to its potential adjustment costs. Two implications for IMF activities are examined: coherence among the three principal international economic institutions and sequencing with macroeconomic stabilization and regulatory reforms.
Book Synopsis The Gains and Pains of Financial Integration and Trade Liberalization by : Rajib Bhattacharyya
Download or read book The Gains and Pains of Financial Integration and Trade Liberalization written by Rajib Bhattacharyya and published by Emerald Publishing Limited. This book was released on 2019-11-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Geared towards policy makers, researchers, academics, and business and management professionals, The Gains and Pains of Financial Integration and Trade Liberalization helps readers develop new theories and models for analysing the future trends in finance and trade-related issues.
Book Synopsis Financial Liberalization and the Reconstruction of State-market Relations by : Robert B. Packer
Download or read book Financial Liberalization and the Reconstruction of State-market Relations written by Robert B. Packer and published by Taylor & Francis. This book was released on 1998 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999. Routledge is an imprint of Taylor & Francis, an informa company.
Book Synopsis Financial Services and Preferential Trade Agreements by : Mona Haddad
Download or read book Financial Services and Preferential Trade Agreements written by Mona Haddad and published by World Bank Publications. This book was released on 2010-06-09 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book fills a large gap in the literature on trade in services. It focuses on the dynamics of trade and investment liberalization in a sector of considerable technical and regulatory complexity financial services. This volume chronicles the recent experiences of governments in Latin America that have successfully completed financial services negotiations through preferential trade agreements. One of the unique features of this book is the three in-depth country case studies Chile, Colombia, and Costa Rica all written by trade experts who led the negotiations of their respective countries in financial services. The authors offer analytical insights into the substantive content of the legal provisions governing financial market opening and the way such provisions have evolved over time and across negotiating settings. The studies describe how each of the three governments organized the conduct of negotiations in the sector, the extent of preparatory work undertaken before and during negotiations, and the negotiating road maps that were put in place to guide negotiators. Additional chapters complement the case studies by examining the evolving architecture of trade and investment disciplines in financial services and how best to prepare for negotiations in this sector. 'Financial Services and Preferential Trade Agreements' aims to provide practical lessons for policy makers, trade experts, and negotiators in developing countries who are involved in negotiating trade in financial services in the context of regional trade agreements. Academics and development practitioners interested in trade negotiations will also find the information valuable.
Book Synopsis Liberalizing Trade in Financial Services in Latin America and the Caribbean by : Jennifer M. Lester
Download or read book Liberalizing Trade in Financial Services in Latin America and the Caribbean written by Jennifer M. Lester and published by . This book was released on 1993 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Liberalizing International Trade in Services by : Matthias Lücke
Download or read book Liberalizing International Trade in Services written by Matthias Lücke and published by . This book was released on 2004 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Liberalization of Trade in Financial Services and Financial Sector Stability (Analytical Approach) by : Alexei Kireyev
Download or read book Liberalization of Trade in Financial Services and Financial Sector Stability (Analytical Approach) written by Alexei Kireyev and published by INTERNATIONAL MONETARY FUND. This book was released on 2002-08-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper seeks to establish a link between the liberalization of trade in financial services undertaken by countries under the WTO and the stability of their financial systems. The paper concludes that liberalization has generally been conducive to stability because of the mutually reinforcing nature of existing international rules and practices. Financial stability and efficiency, which should be ultimate goals of further liberalization, can be ensured by taking advantage of coherent policy advice and the application of existing multilateral mechanisms-in particular, the WTO negotiations and the IMF/World Bank financial sector assessment program.
Book Synopsis Financial Market Liberalization by : Olin Lewis Wethington
Download or read book Financial Market Liberalization written by Olin Lewis Wethington and published by McGraw-Hill Companies. This book was released on 1994 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt:
