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Explaining liberalization commitments in financial services trade

  • Philipp Harms
  • Aaditya Mattoo
  • Ludger Schuknecht

    ()

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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File URL: http://hdl.handle.net/10.1007/BF02659609
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Article provided by Springer in its journal Review of World Economics.

Volume (Year): 139 (2003)
Issue (Month): 1 (March)
Pages: 82-113

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Handle: RePEc:spr:weltar:v:139:y:2003:i:1:p:82-113
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  1. Claessens, Stijn & Demirguc-Kunt, Asl[iota] & Huizinga, Harry, 2001. "How does foreign entry affect domestic banking markets?," Journal of Banking & Finance, Elsevier, vol. 25(5), pages 891-911, May.
  2. Finger, J. Michael & Schuknecht, Ludger, 1999. "Market access advances and retreats : the Uruguay Round and beyond," Policy Research Working Paper Series 2232, The World Bank.
  3. Hoekman, Bernard, 1995. "Tentative first steps : an assessment of the Uruguay Round agreement on services," Policy Research Working Paper Series 1455, The World Bank.
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  5. Gene M. Grossman & Elhanan Helpman, 1993. "The Politics of Free Trade Agreements," NBER Working Papers 4597, National Bureau of Economic Research, Inc.
  6. Hoekman, Bernard & Primo Braga, Carlos A., 1997. "Protection and trade in services : a survey," Policy Research Working Paper Series 1747, The World Bank.
  7. Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
  8. Barth, James R. & Caprio Jr, Gerard & Levine, Ross, 2001. "The regulation and supervision of banks around the world - a new database," Policy Research Working Paper Series 2588, The World Bank.
  9. Cludia M. Buch, 1997. "Opening up for foreign banks: How Central and Eastern Europe can benefit," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(2), pages 339-366, November.
  10. Barth, James R. & Caprio Jr., Gerard & Levine, Ross, 2001. "Bank regulation and supervision : what works best?," Policy Research Working Paper Series 2725, The World Bank.
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  12. Grossman, G.M. & Helpman, E., 1992. "Protection for Sale," Papers 162, Princeton, Woodrow Wilson School - Public and International Affairs.
  13. repec:dgr:uvatin:19990028 is not listed on IDEAS
  14. Francois, Joseph & Schuknecht, Ludger, 1999. "Trade in Financial Services: Procompetitive Effects and Growth Performance," CEPR Discussion Papers 2144, C.E.P.R. Discussion Papers.
  15. Aadtya Mattoo, 2000. "Financial Services and the WTO: Liberalisation Commitments of the Developing and Transition Economies," The World Economy, Wiley Blackwell, vol. 23(3), pages 351-386, 03.
  16. Markusen, James R, 1989. "Trade in Producer Services and in Other Specialized Intermediate Inputs," American Economic Review, American Economic Association, vol. 79(1), pages 85-95, March.
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