Article

World Trade Organization Commitments vs. Reported Practices on Foreign Bank Entry and Regulation

James R. Barth, Juan A. Marchetti, Daniel E. Nolle and Wanvimol Sawangngoenyuang

in The Oxford Handbook of Banking

Published in print January 2012 | ISBN: 9780199640935
Published online September 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199640935.013.0017

Series: Oxford Handbooks in Finance

 World Trade Organization Commitments vs. Reported Practices on Foreign Bank Entry and Regulation

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This article examines the degree to which countries' commitments under the GATS financial services agreement match regulatory practices ‘on the ground’ in member countries. It is organized as follows. The second section provides a brief explanation of the GATS and the nature of WTO commitments. The third section describes the two companion parts of the data set. The fourth section develops and applies the ‘degree of discrimination’ index as a measure of the extent to which there is a regulations-related disadvantage under which foreign banks operate, post-entry, relative to domestic banks. The final section summarizes findings and concludes with an observation about the ongoing relevance of this information for discussions about better coordination of cross-border banking supervision in the wake of the global financial crisis of 2008.

Keywords: GATS; international agreement; financial services agreement; financial regulation; WTO; cross-border banking supervision; banking regulation

Article.  11173 words. 

Subjects: Economics ; Financial Markets ; Public Economics

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