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Liberalization of Trade in Financial Services and Financial Sector Stability (Empirical Approach)
Mr.Alexei Kireyev
出版International Monetary Fund, 2002-08-01
主題Business & Economics / Industries / Financial ServicesBusiness & Economics / Finance / GeneralBusiness & Economics / Exports & Imports
ISBN14518560599781451856057
URLhttp://books.google.com.hk/books?id=xlsYEAAAQBAJ&hl=&source=gbs_api
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註釋The paper explores empirically the links between the WTO-driven liberalization of trade in financial services and the stability of national financial systems. Econometric testing of indicators intended to proxy financial sector stability-subdivided into exchange rate and banking sector stability-suggests that opening of the financial sector is an efficient policy instrument at the disposal of the authorities for achieving a variety of macroeconomic goals. While liberalization is found to be broadly conducive to stability, the outcome of liberalization on exchange rate stability is less predictable than on banking sector stability.