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The GATS Agreementon Financial Services; A Modest Start to Multilateral Liberalization
TLDR
In this paper, the authors analyzed the links between multilateral, and unilateral financial liberalization, represented by the General Agreements on Trade in Services (GATS), and found that in many countries multilaterally liberalized financial sector policies are more restrictive than the actual state of openness or development of financial sectors.Abstract:
This paper analyzes the links between multilateral, and unilateral financial liberalization, the former represented by the General Agreements on Trade in Services (GATS). It provides an overview of the main features of the GATS and what the participants in banking and securities within its framework, and compares GATS liberalization with the actual state of liberalization of the participants’ financial sectors. The results suggest that in many countries multilaterally liberalized financial sector policies are more restrictive than the actual state of openness or development of financial sectors. Many emerging markets liberalized little under the GATS despite often well-developed financial markets, while the opposite was true in some less developed developing countries.read more
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Trade in services - market access opportunities and the benefits of liberalization for developing economies
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Financial Services and the WTO: Liberalisation Commitments of the Developing and Transition Economies
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Competition in MENA countries banking markets
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Related Papers (5)
The GATS agreement on financial services : a modest start to multilateral liberalization
Piritta Sorsa,Alan A. Tait +1 more