Chapter

Financial Liberalization under the WTO and Its Relationship with the Macro Economy

Edited by Lee-Rong Wang, Chung-Hua Shen and Ching-Yang Liang

in International Financial Issues in the Pacific Rim

Published by University of Chicago Press

Published in print August 2008 | ISBN: 9780226386829
Published online February 2013 | e-ISBN: 9780226387086 | DOI: http://dx.doi.org/10.7208/chicago/9780226387086.003.0011
Financial Liberalization under the WTO and Its Relationship with the Macro Economy

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This chapter examines financial liberalization as measured by General Agreement on Trade in Services (GATS) commitments, and the effect of liberalization on economic growth. The chapter is organized as follows. Section 10.2 introduces the history of WTO commitments and describes the construction of the financial liberalization index. Section 10.3 discusses some interesting patterns of the financial liberalization under the WTO. Section 10.4 describes the empirical models and data, while Section 10.5 presents the empirical findings. Finally, Section 10.6 summarizes the conclusions that are drawn.

Keywords: financial liberalization index; WTO; General Agreement on Trade in Services; GATS; economic growth; financial liberalization

Chapter.  12411 words. 

Subjects: Business and Management

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