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Explaining liberalization commitments in financial services trade, Volume 1
Author:Harms, Philipp; Mattoo, Aaditya; Schuknecht, Ludger; Date Stored:2003/04/05
Document Date:2003/03/31Document Type:Policy Research Working Paper
SubTopics:Economic Theory & Research; Health Economics & Finance; Trade Finance and Investment; Banks & Banking Reform; Free Trade; Trade and Services; Payment Systems & Infrastructure; Trade and Regional IntegrationLanguage:English
Report Number:WPS2999Sub Sectors:Other domestic and international trade
Collection Title:Policy, Research working documents ; no. WPS 2999Volume No:1

Summary: 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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