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Liberalising trade in financial Services: the Uruguay Round and the Arab countries

Liberalising trade in financial Services: the Uruguay Round and the Arab countries
Liberalising trade in financial Services: the Uruguay Round and the Arab countries
As a result of the Uruguay Round, members of the World Trade Organization (WTO) are committed to initiating gradual liberalization in their service sectors, i.e., to opening their markets to foreign service suppliers. The purpose of this paper is to examine the prospects and problems of trade liberalization in financial services in the Arab countries. The paper draws on the theoretical contributions outlining the case for financial liberalization in developing countries. It reviews the recent performance, structure and regulation of the banking systems in some Arab countries. The main conclusion is that Arab countries do not meet the prerequisites for successful financial liberalization. There is a clear need for internal reform of the financial systems first before opening up to external competition.
arab countries, developing countries, financial liberalization, banking, uruguay round, financial services
0305-750X
1331-1348
Wahba, Jackline
03ae9304-c329-40c6-9bfc-d91cfa9e7164
Mohieldin, Mahmoud
cccc7521-545b-4931-a92c-d7632bd26467
Wahba, Jackline
03ae9304-c329-40c6-9bfc-d91cfa9e7164
Mohieldin, Mahmoud
cccc7521-545b-4931-a92c-d7632bd26467

Wahba, Jackline and Mohieldin, Mahmoud (1998) Liberalising trade in financial Services: the Uruguay Round and the Arab countries. World Development, 26 (7), 1331-1348. (doi:10.1016/S0305-750X(98)00055-2).

Record type: Article

Abstract

As a result of the Uruguay Round, members of the World Trade Organization (WTO) are committed to initiating gradual liberalization in their service sectors, i.e., to opening their markets to foreign service suppliers. The purpose of this paper is to examine the prospects and problems of trade liberalization in financial services in the Arab countries. The paper draws on the theoretical contributions outlining the case for financial liberalization in developing countries. It reviews the recent performance, structure and regulation of the banking systems in some Arab countries. The main conclusion is that Arab countries do not meet the prerequisites for successful financial liberalization. There is a clear need for internal reform of the financial systems first before opening up to external competition.

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More information

Published date: July 1998
Keywords: arab countries, developing countries, financial liberalization, banking, uruguay round, financial services

Identifiers

Local EPrints ID: 33064
URI: http://eprints.soton.ac.uk/id/eprint/33064
ISSN: 0305-750X
PURE UUID: 3d60808e-adae-4f15-9441-24311b62bc1e
ORCID for Jackline Wahba: ORCID iD orcid.org/0000-0002-0002-3443

Catalogue record

Date deposited: 13 Dec 2007
Last modified: 16 Mar 2024 02:50

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Contributors

Author: Jackline Wahba ORCID iD
Author: Mahmoud Mohieldin

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