Explaining Liberalization Commitments in Financial Services Trade

Harms, Philipp; Mattoo, Aaditya; Schuknecht, Ludger

Explaining Liberalization Commitments in Financial Services Trade

2003

Harms, Philipp | Mattoo, Aaditya | Schuknecht, Ludger

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.

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agricultural products agriculture banking systems bargaining power collective action developing countries domestic markets elasticity exports financial institutions foreign firms foreign trade free trade inflation interest groups marginal costs market access professional services servicing social welfare trade barriers trade liberalization trade negotiations trade policies trade protection transaction costs wage rate wages wto

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Editorial

World Bank, Washington, DC

Otras materias

Services trade; Financial support; Specific services sectors; International negotiating; Liberalization commitments; Financial crisis; European central bank; Cross-border supply; Average costs; Foreign ownership; Quantitative restrictions; Securities regulation; Trading partners; Liberalizing trade; Protectionism; Average trade; Static analysis; Gdp; World market price; Pro-competitive effects; Tariff rate; Political economy; Demand curve; Domestic export; Liberalizing commitments; Trade policy; Common market; Macroeconomic stability; Financial sector; Foreign competitors; Measure of trade; World market; Banking sector; Exported good; Closed economy; Macroeconomic instability; National regimes; Consumption abroad; Foreign equity; Services industry; Central bank; Gats; Marginal product; Export development; Member countries; Trade in services; Tariff rates; Domestic banks; Bank branches; Services negotiations; Aic; Basket of goods; Foreign presence; Services liberalization; Openness; Competitive disadvantage; Presence of natural persons; Export development agreement on trade; National treatment; Concessions; Economic policy; Capital mobility; Agreement on trade; Market access commitments; Foreign markets; Domestic output; Export share; Free access; Prudential regulation; Services sector; Modes of supply; Protectionist measures; Financial services; Total output; Policy framework; Equity limitations; Global markets; Financial markets; Agricultural exporters; Foreign bank; Export markets; Domestic firms; Entry barriers; Inefficiency; World trade; Export shares; Open economy; Foreign market; Uruguay round; Free trade in goods; Country markets; Applied tariff; Banking services; International financial system; Trade openness; Foreign banks; Domestic market; Expected present value; Commercial presence; Foreign competition

Licencia

Policy Research Working Paper;No. 2999http://creativecommons.org/licenses/by/3.0/igo/CC BY 3.0 IGO

Fuente

Policy Research Working Paper;No. 2999

En AGRIS desde: 2014-09-15

Formato: AGRIS AP

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http://hdl.handle.net/10986/18319

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Explaining Liberalization Commitments in Financial Services Trade

2003

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