 Liberalization of Trade in Financial Services and Financial Sector Stability (Analytical Approach)No 2002/138, IMF Working Papers from International Monetary Fund 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. Keywords: WP; capital account; sector openness; WTO negotiations; balance of payments; financial market; financial service supplier; WTO rule; financial services; financial sector stability; trade liberalization; regulatory authority; trade in financial services; market access; cross-border financial service provider; WTO member; financial services negotiations; financial service transaction; a number of WTO document; Trade in services; Capital flows; Financial sector; North America; Global (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2002/138 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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