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| Author: | Steinherr, A. Perée, E. |
| Title: | How strong is the case for free trade in financial services? Walking the tightrope between domestic stability and international shocks. |
| Journal: | World Economy
1999 : DEC, VOL. 22:9, p. 1221-1232 |
| Index terms: | Trade policy Free trade Domestic trade OECD |
| Language: | eng |
| Abstract: | This paper reviews the arguments in favour of free trade in financial services, tempered by the practical experience gained during the financial crises of 1997-1998. It first presents the theoretical case for the traditional gains from trade in financial products, elaborates on the characteristics that differentiate trade in financial products from trade in ordinary goods and recalls the macroeconomic implications of freer financial flows. |
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