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Trade Policy in Financial Services

Author

Listed:
  • Mr. Brad J. McDonald
  • Mr. Geoffrey J Bannister
  • Ms. Natalia T. Tamirisa
  • Ms. Piritta Sorsa
  • Mr. Jaroslaw Wieczorek

Abstract

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.

Suggested Citation

  • Mr. Brad J. McDonald & Mr. Geoffrey J Bannister & Ms. Natalia T. Tamirisa & Ms. Piritta Sorsa & Mr. Jaroslaw Wieczorek, 2000. "Trade Policy in Financial Services," IMF Working Papers 2000/031, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2000/031
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    Citations

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    Cited by:

    1. Mr. Alexei P Kireyev, 2002. "Liberalization of Trade in Financial Services and Financial Sector Stability (Analytical Approach)," IMF Working Papers 2002/138, International Monetary Fund.
    2. Lupo Pasini, Federico, 2012. "The International Regulatory Regime on Capital Flows and Trade in Services," ADBI Working Papers 338, Asian Development Bank Institute.
    3. Auboin, Marc, 2007. "Fulfilling the Marrakesh Mandate on Coherence: Ten years of cooperation between the WTO, IMF and World Bank," WTO Discussion Papers 13, World Trade Organization (WTO), Economic Research and Statistics Division.
    4. Natalia Tamirisa, 2003. "Trade in Financial Services and Capital Movements," Journal of Financial Services Research, Springer;Western Finance Association, vol. 24(1), pages 47-66, August.
    5. Valckx, Nico, 2004. "WTO financial services commitments: Determinants and impact on financial stability," International Review of Financial Analysis, Elsevier, vol. 13(4), pages 517-541.
    6. Dal Colle, Alessandra, 2018. "The mechanics of commercial banking liberalization and growth," Journal of Banking & Finance, Elsevier, vol. 86(C), pages 194-203.

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