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
1331-1348
Wahba, Jackline
03ae9304-c329-40c6-9bfc-d91cfa9e7164
Mohieldin, Mahmoud
cccc7521-545b-4931-a92c-d7632bd26467
July 1998
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), .
(doi:10.1016/S0305-750X(98)00055-2).
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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Published date: July 1998
Keywords:
arab countries, developing countries, financial liberalization, banking, uruguay round, financial services
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Local EPrints ID: 33064
URI: http://eprints.soton.ac.uk/id/eprint/33064
ISSN: 0305-750X
PURE UUID: 3d60808e-adae-4f15-9441-24311b62bc1e
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Date deposited: 13 Dec 2007
Last modified: 16 Mar 2024 02:50
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Author:
Mahmoud Mohieldin
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