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Conceptual and Political Economy Issues in Liberalizing International Transactions in Services


  • Hoekman, Bernard


Services have become increasingly prominent on the international policy agenda since the early 1980s. Very little information exists on how and why international transactions in services occur, however. This paper discusses a number of the problems confronting governments interested in liberalizing access to service markets. The focus is on a `systemic' issue: the adequacy of available knowledge (the information base broadly defined) in terms of assisting policy-makers to define objectives, deal with vested interests and design practical procedures to liberalize international transactions in services. Two issues in particular are addressed: (i) the implications - and usefulness to policy-makers - of the economic literature that has emerged since the mid-1980s on trade in services; and (ii) the impact of the almost complete lack of information on the costs and benefits of policies affecting services on the political economy of the liberalization of trade in services.

Suggested Citation

  • Hoekman, Bernard, 1992. "Conceptual and Political Economy Issues in Liberalizing International Transactions in Services," CEPR Discussion Papers 666, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:666

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    References listed on IDEAS

    1. Saman Majd & Stewart C. Myers, 1987. "Tax Asymmetries and Corporate Income Tax Reform," NBER Chapters,in: Taxes and Capital Formation, pages 93-96 National Bureau of Economic Research, Inc.
    2. Saman Majd & Stewart C. Myers, 1985. "Valuing the Government's Tax Claim on Risky Corporate Assets," NBER Working Papers 1553, National Bureau of Economic Research, Inc.
    3. Auerbach, Alan, 1990. "The cost of capital and investment in developing countries," Policy Research Working Paper Series 410, The World Bank.
    4. Schanbel, Jacques A & Roumi, Ebrahim, 1990. "A Contingent Claims Analysis of Partial Loss Offset Taxation and Risk-Taking," Public Finance = Finances publiques, , vol. 45(2), pages 304-320.
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    Cited by:

    1. Francois, Joseph & Wooton, Ian, 2001. "Market structure, trade liberalization and the GATS," European Journal of Political Economy, Elsevier, vol. 17(2), pages 389-402, June.
    2. Hoekman, Bernard, 1995. "Tentative First Steps: An Assessment of the Uruguay Round Agreement on Services," CEPR Discussion Papers 1150, C.E.P.R. Discussion Papers.
    3. Joseph F. Francois & Lutger Schuknecht, 1999. "Trade in Financial Services: Procompetitive Effects and Growth Performance," Tinbergen Institute Discussion Papers 99-028/2, Tinbergen Institute.
    4. Bernard Hoekman & Carlos Braga, 1997. "Protection and Trade in Services: A Survey," Open Economies Review, Springer, vol. 8(3), pages 285-308, July.

    More about this item


    Liberalization; Multilateral Negotiations; Trade in Services;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations


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