Selected Features of Financial Sectors in Asia and their Implications for Services Trade
Imprint
Geneva, United Nations. 1997
Descript
iii, 27 p. : tables
SUMMARY
WTO regulations on trade in different services concern not only cross-border transactions but also supply through a commercial presence in a country. In consequence, major features of countries' regulatory regimes for services become subjects for offers in such negotiations, and eventually for inclusion in their schedules of commitments under the General Agreement on Trade in Services. This paper discusses banking (commercial and investment), the securities business, and asset management in 10 Asian countries or territories, the great majority of which are likely to be important participants in the recently resumed negotiations on financial services. The paper surveys briefly the financial landscape in these countries, focusing, inter alia, on the order of magnitude of revenues and profits of selected financial activities. Its review of regulatory regimes is concerned with limitations on market access for foreign firms and with other discriminatory restrictions faced by such firms (limitations on national treatment). The paper notes the long-term trend towards financial liberalization in these countries, and suggests that the negotiations are thus about the pace at which it will take place
LOCATION
CALL#
STATUS
International Institute for Trade and Developement : UNCTAD Collection
