The Internationalization of Financial Services:Issues and Lessons for Developing Countries PDF Download
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Author: Stijn Claessens
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 490
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Book Description
The internationalization of financial services is an important issue for the strengthening and liberalizing of financial systems in developing countries. There has been considerable support for the view that internationalization can assist countries
Author: Stijn Claessens
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 490
Get Book Here
Book Description
The internationalization of financial services is an important issue for the strengthening and liberalizing of financial systems in developing countries. There has been considerable support for the view that internationalization can assist countries
Author: Stijn Claessens
Publisher: World Bank Publications
ISBN:
Category : Internacionalizacion - Asia
Languages : en
Pages : 64
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Book Description
April 1998 Asian countries should consider the benefits of opening their financial service sectors more quickly-at the same time that they are liberalizing capital accounts and deregulating domestic financial markets. The internationalization of financial services-eliminating discrimination between the treatment of foreign and domestic providers of financial services and removing barriers to the cross-border provision of financial services-is of global interest, especially in Asia. Most of Asia limits the entry of foreign financial firms much more than otherwise comparable countries do. Empirical evidence for Asia and elsewhere suggests that this slows down institutional development and that, as a result, it costs more to provide financial services. Asian countries could benefit from accelerating the opening of the financial services sector, in conjunction with the further liberalization of capital accounts and domestic deregulation of financial markets. Apart from other benefits, internationalization helps build more robust, efficient financial systems by introducing international practices and standards; by improving the quality, efficiency, and breadth of financial services; and by allowing more stable sources of funds. The ongoing WTO negotiation of financial services under GATS gives countries the opportunity to commit to opening their financial sectors. Safeguards can be built into the process, and the liberalization can be phased in gradually. This paper-a product of the Economic Policy Division, Poverty Reduction and Economic Management Network-is part of a larger effort in the network to study financial reform in developing countries. The paper was written during the summer of 1997, before the East Asia financial crisis and before the conclusion of the WTO negotiations in December 1997.
Author: T. M. Rybczynski
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 214
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Book Description
Author: Stijn Claessens
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
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Book Description
Asian countries should consider the benefits of opening their financial service sectors more quickly - at the same time that they are liberalizing capital accounts and deregulating domestic financial markets. The internationalization of financial services - eliminating discrimination between the treatment of foreign and domestic providers of financial services and removing barriers to the cross-border provision of financial services - is of global interest, especially in Asia.Most of Asia limits the entry of foreign financial firms much more than otherwise comparable countries do. Empirical evidence for Asia and elsewhere suggests that this slows down institutional development and that, as a result, it costs more to provide financial services. Asian countries could benefit from accelerating the opening of the financial services sector, in conjunction with the further liberalization of capital accounts and domestic deregulation of financial markets.Apart from other benefits, internationalization helps build more robust, efficient financial systems by introducing international practices and standards; by improving the quality, efficiency, and breadth of financial services; and by allowing more stable sources of funds. The ongoing WTO negotiation of financial services under GATS gives countries the opportunity to commit to opening their financial sectors. Safeguards can be built into the process, and the liberalization can be phased in gradually.This paper - a product of the Economic Policy Division, Poverty Reduction and Economic Management Network - is part of a larger effort in the network to study financial reform in developing countries. The paper was written during the summer of 1997, before the East Asia financial crisis and before the conclusion of the WTO negotiations in December 1997.
