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Trade in Financial Services--Has the IMF Been Involved Constructively?

Author

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  • Robert M Stern

    (University of Michigan)

Abstract

This paper considers the key policy issues related to liberalization of trade in financial services that the IMF should be concerned with, and the role the IMF has played in advising on policies related to trade in financial services in its bilateral and multilateral surveillance and conditionality attached to lending programs. IMF staff were generally aware of the literature and country experiences showing the benefits of financial liberalization. But Fund advice in support of liberalization can be best interpreted to be in support of country unilateral policy actions and the dynamics of the WTO accession process.

Suggested Citation

  • Robert M Stern, 2009. "Trade in Financial Services--Has the IMF Been Involved Constructively?," Working Papers 587, Research Seminar in International Economics, University of Michigan.
  • Handle: RePEc:mie:wpaper:587
    as

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    File URL: http://www.fordschool.umich.edu/rsie/workingpapers/Papers576-600/r587.pdf
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    More about this item

    Keywords

    financial liberalization; foreign banks; GATS; IMF;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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