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International Financial Issues in the Pacific RimGlobal Imbalances, Financial Liberalization, and Exchange Rate Policy$
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Takatoshi Ito and Andrew K. Rose

Print publication date: 2008

Print ISBN-13: 9780226386829

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226387086.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 02 August 2021

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

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

Chapter:
(p.315) 10 Financial Liberalization under the WTO and Its Relationship with the Macro Economy
Source:
International Financial Issues in the Pacific Rim
Author(s):
Lee-Rong Wang, Chung-Hua Shen, Ching-Yang Liang
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226387086.003.0011

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

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