Financial Services and the WTO: Liberalisation Commitments of the Developing and Transition Economies

Mattoo, Aadtya

doi:10.1111/1467-9701.00277

Cited by 85 publications

(39 citation statements)

References 7 publications

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“…However, it has its own banking restructuring process to deal with at the moment: the IMF indicates in its latest 2005 article IV report that Egypt is currently in the process of consolidating its banking sector to cut by half the number of banks in the country. 68 See also Mattoo (1998), Kono and Schuknecht (2000) and Qian (1999) on the interpretation of GATS commitments in financial services. The approach taken towards multilateral liberalization differs significantly within this group of countries.…”

Section: Multilateral Liberalizationmentioning

confidence: 99%

Liberalizing Financial Services Trade in Africa: Going Regional and Multilateral

Jansen¹,

Vennes²

2006

SSRN Journal

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Section: Multilateral Liberalizationmentioning

confidence: 99%

Liberalizing Financial Services Trade in Africa: Going Regional and Multilateral

Jansen¹,

Vennes²

2006

SSRN Journal

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“…Or la politique qui consiste à protéger les privilèges des fournisseurs en place, rappelons-le, est rarement la plus rationnelle d'un point de vue économique. Comme le montrent les études effectuées dans ce domaine, un accroissement de la concurrence se traduit généralement par des gains de bien-être plus importants qu'un simple transfert de propriété, que celui-ci s'effectue entre le secteur public et le secteur privé, entre des intérêts nationaux et des intérêts étrangers, ou par le biais d'un assouplissement des restrictions imposées aux prises de participation étrangères dans les entreprises nationales (Mattoo, 2000).…”

Section: Les Enjeux Des Négociations Au Titre De L'agcsunclassified

“…A.T. Kearney/Foreign Policy constate que bien que le débat sur la question ne soit « pas satisfaisant », notamment parce que jusqu'à présent rien n'a été fait pour mesurer la mondialisation, « il semble bien que l'on s'accorde à reconnaître que la mondialisation -qu'elle soit économique, politique, culturelle ou environnementale -puisse être définie par un niveau croissant d'interdépendance sur de très grandes distances ». (Mattoo, 2000). 25.…”

unclassified

Pour l'ouverture des marchés de services

2002

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“…Liberalisation promotes lower costs and more competitive institutions. It should be noted, however, that liberalisation which permits only larger foreign equity stakes in domestic financial institutions, and no new market entry, may simply imply the "sale" of existing rents to foreigners and not a more competitive environment Mattoo, supervision, and transparency. 1998).…”

Section: Figure 1: the Links Between Financial Services Trade Capitamentioning

confidence: 99%

Financial Services Trade, Capital Flows, and Financial Stability

Kono¹,

Schuknecht²

1998

WTO Working Papers

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractThis study argues that trade policies regarding financial services are an important-but often neglected-determinant of capital flows and financial sector stability. Financial services trade liberalisation which promotes the use of a broad spectrum of financial instruments and allows the presence of foreign financial institutions whilst not unduly restricting their business practices, results in less distorted and less volatile capital flows, and promotes financial sector stability. The study finds significant evidence in favour of this claim through an empirical analysis of GATS commitments in 27 emerging markets. For example, countries which experienced financial crisis during 1991-97 show a combined indicator of financial services trade restrictiveness three times as high (= less favourable for financial stability) as countries without a crisis.The study's findings have two important policy implications. Firstly, liberalising international trade in financial services can be a market-based means to improve the "quality" of capital flows and to strengthen financial systems. This would complement other policies, including financial regulation. Secondly, even in countries where the financial system is weak, and where immediate, full-fledged financial sector liberalisation is not advisable, certain types of financial services trade could be liberalised, as such trade strengthens the financial system without provoking destabilising capital flows.JEL codes: F13, F30, G20

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Financial Services and the WTO: Liberalisation Commitments of the Developing and Transition Economies

Cited by 85 publications

References 7 publications

Liberalizing Financial Services Trade in Africa: Going Regional and Multilateral

Liberalizing Financial Services Trade in Africa: Going Regional and Multilateral

Pour l'ouverture des marchés de services

Financial Services Trade, Capital Flows, and Financial Stability

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