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Trade Policy in Financial Services
Author:
Mr. Brad J. McDonald
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Mr. Geoffrey J Bannister
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Ms. Natalia T. Tamirisa
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Ms. Piritta Sorsa
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Mr. Jaroslaw Wieczorek
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Series:
IMF Working Papers
Volume/Issue:
Volume 2000: Issue 031
Language:
English
Publication Date:
01 Feb 2000
DOI:
https://doi.org/10.5089/9781451845013.001
ISBN:
9781451845013
ISSN:
1018-5941
Pages:
39
Keywords:
WP; financial service; liberalization; trade; provider; Financial services; capital account; GATS; cross-border trade; financial services trade; liberalization commitment; financial services liberalization; liberalization of financial services; financial services market; liberalization in financial services; place of trade liberalization; trade reform; liberalization of trade; liberalization of cross-border trade; Policy implications of trade liberalization; Trade in services; Trade liberalization; Capital flows; Financial sector; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper reviews the economics of trade policy in financial services, highlighting differences between trade across borders and through commercial presence. Trade liberalization could complement other financial reforms by enhancing the efficiency, quality, and variety of financial services and by encouraging improvement of financial regulations and practices. However, it raises sectoral, strategic, and cultural concerns. The design of trade policy should therefore emphasize the nexus with the macroeconomic framework and other financial sector policies, especially prudential and capital account regulations. It should also differentiate between types of trade. National reforms should be coordinated with multilateral trade agreements and initiatives on international financial architecture.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund