International Trade in Services: Implications for the Fund
IMF Policy Discussion Papers, December 1, 2003
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- International Trade in Services: Implications for the Fund
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Bibliographic details
- Authors: Natalia T. Tamirisa, Alexander Lehmann, Jaroslaw Wieczorek
- Published: December 1, 2003
- Series: IMF Policy Discussion Papers
- DOI: https://doi.org/10.5089/9781451972207.003
Overview and scope
- Reviews characteristics of international trade in services and of the World Trade Organization’s General Agreement on Trade in Services (GATS) framework, which was established to regulate it.
- Examines potential benefits and costs of further liberalization of services trade in developing countries as envisaged in the context of the WTO Doha Development Agenda.
- Focuses on two implications for IMF activities: coherence among the three principal international economic institutions and sequencing with macroeconomic stabilization and regulatory reforms.
Key findings
- Further liberalization of services trade in developing countries holds a number of potential benefits, such as underpinning the liberalization of goods trade.
- Services trade liberalization is also being resisted because of its potential adjustment costs.
- The GATS framework was established to regulate international trade in services.
Implications for IMF activities
- Coherence:
- Need to ensure coherence among the three principal international economic institutions.
- Sequencing:
- Importance of sequencing services liberalization with macroeconomic stabilization and regulatory reforms.
Subjects and keywords (as listed)
- Subjects: Economic sectors, Financial services, International trade, Privatization, Services sector, Trade in services, Trade liberalization
- Keywords: Africa, capital account, cargo services, Central America, coherence, cross-border trade, Global, goods trade, IMF mission, IMF surveillance, international services trade, liberalization commitment, liberalization of services trade, member country, PDP, Privatization, service sector liberalization, service trade liberalization, Services sector, services trade, services transaction, trade in service, Trade in services, Trade liberalization, trade measure, WTO