Liberalization of Trade in Financial Services and Financial Sector Stability (Analytical Approach)

Author/Editor:

Alexei P Kireyev

Publication Date:

August 1, 2002

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 2002/138

Subject:

Balance of payments Capital flows Economic sectors Financial sector Financial sector policy and analysis Financial sector stability Financial services International trade Trade in services

English

Publication Date:

August 1, 2002

ISBN/ISSN:

9781451855999/1018-5941

Stock No:

WPIEA1382002

Pages:

36

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