Trade Policy in Financial Services

By Brad J. McDonald, Geoffrey J Bannister, Natalia T. Tamirisa, Piritta Sorsa, Jaroslaw Wieczorek

February 1, 2000

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Format: Chicago

Brad J. McDonald, Geoffrey J Bannister, Natalia T. Tamirisa, Piritta Sorsa, and Jaroslaw Wieczorek. Trade Policy in Financial Services, (USA: International Monetary Fund, 2000) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Balance of payments, Capital flows, Economic sectors, Financial sector, Financial services, International trade, Trade in services, Trade liberalization

Keywords: Capital account, Capital flows, Cross-border trade, Financial sector, Financial service, Financial services, Financial services liberalization, Financial services market, Financial services trade, GATS, Global, Liberalization, Liberalization commitment, Liberalization in financial services, Liberalization of cross-border trade, Liberalization of financial services, Liberalization of trade, Place of trade liberalization, Policy implications of trade liberalization, Provider, Trade, Trade in services, Trade liberalization, Trade reform, WP

Publication Details

Pages:

39
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2000/031
Stock No:

WPIEA0312000
ISBN:

9781451845013
ISSN:

1018-5941

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