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Liberalization of Trade in Financial Services and Financial Sector Stability (Analytical Approach)

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  • Mr. Alexei P Kireyev

Abstract

The paper seeks to establish a link between the liberalization of trade in financial services undertaken by countries under the WTO and the stability of their financial systems. The paper concludes that liberalization has generally been conducive to stability because of the mutually reinforcing nature of existing international rules and practices. Financial stability and efficiency, which should be ultimate goals of further liberalization, can be ensured by taking advantage of coherent policy advice and the application of existing multilateral mechanisms-in particular, the WTO negotiations and the IMF/World Bank financial sector assessment program.

Suggested Citation

  • 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.
    • Handle: RePEc:imf:imfwpa:2002/138
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    Cited by:

    1. Ivana Prica, 2008. "Financial Servicies Liberalization And International Integration In South Eastern Europe," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 53(178-179), pages 122-144, July - De.
    2. Kevin Gallagher, 2012. "The Global Governance of Capital Flows: New Opportunities, Enduring Challenges," Working Papers wp283, Political Economy Research Institute, University of Massachusetts at Amherst.
    3. Andrew CORNFORD, 2004. "The Wto Negotiations On Financial Services: Current Issues And Future Directions," UNCTAD Discussion Papers 172, United Nations Conference on Trade and Development.
    4. Ivana Prica & Jelica Petrović Vujačić, 2010. "Financial Services Liberalisation in Transition Countries and the Role of the WTO," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(4), pages 487-501, December.
    5. Li-Gang Liu, 2005. "The Impact of Financial Services Trade Liberalization on China," Discussion papers 05024, Research Institute of Economy, Trade and Industry (RIETI).
    6. 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.
    7. Kevin P. Gallagher, 2010. "Policy Space to Prevent and Mitigate Financial Crises in Trade and Investment Agreements," G-24 Discussion Papers 58, United Nations Conference on Trade and Development.
    8. Kevin P. Gallagher, 2011. "Losing Control: Policy Space to Prevent and Mitigate Financial Crises in Trade and Investment Agreements," Development Policy Review, Overseas Development Institute, vol. 29(4), pages 387-413, July.

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