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Trade in Financial ServicesÑHas the IMF Been Involved Constructively?


  • Robert M. Stern

    (University of Michigan)


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, 2010. "Trade in Financial ServicesÑHas the IMF Been Involved Constructively?," Working Papers 613, Research Seminar in International Economics, University of Michigan.
  • Handle: RePEc:mie:wpaper:613

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    References listed on IDEAS

    1. Lamin Y Leigh & Richard Podpiera, 2006. "The Rise of Foreign Investment in China’s Banks—Taking Stock," IMF Working Papers 06/292, International Monetary Fund.
    2. Gootiiz, Batshur & Mattoo, Aaditya, 2009. "Services in Doha : what's on the table ?," Policy Research Working Paper Series 4903, The World Bank.
    3. International Monetary Fund, 2007. "Italy—Assessing Competition and Efficiency in the Banking System," IMF Working Papers 07/26, International Monetary Fund.
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    More about this item


    Trade Liberalization in Financial Services; IMF Surveillance and Conditionality;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • 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
    • G2 - Financial Economics - - Financial Institutions and Services
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing

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