Trade Policy in Financial Services

Author/Editor:

Brad J. McDonald ; Geoffrey J Bannister ; Natalia T. Tamirisa ; Piritta Sorsa ; Jaroslaw Wieczorek

Publication Date:

February 1, 2000

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:

This paper reviews the economics of trade policy in financial services, highlighting differences between trade across borders and through commercial presence. Trade liberalization could complement other financial reforms by enhancing the efficiency, quality, and variety of financial services and by encouraging improvement of financial regulations and practices. However, it raises sectoral, strategic, and cultural concerns. The design of trade policy should therefore emphasize the nexus with the macroeconomic framework and other financial sector policies, especially prudential and capital account regulations. It should also differentiate between types of trade. National reforms should be coordinated with multilateral trade agreements and initiatives on international financial architecture.

Series:

Working Paper No. 00/31

Subject:

English

Publication Date:

February 1, 2000

ISBN/ISSN:

9781451845013/1018-5941

Stock No:

WPIEA0312000

Format:

Paper

Pages:

39

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