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International trade in financial services

Author

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  • Sagari, Silvia B.

Abstract

The issue of trade in services is the subject of increasing interest. Evidence of this is its inclusion in the Uruguay Round of GATT negotiations. As a contribution to the analysis of the issue, this paper analyzes the influence of a country's resource endowments on its net trade in financial services. A modified version of the Heckscher-Ohlin model is developed, which allows for technological differences across countries. The paper reaches the conclusion that skilled labour is a source of comparative advantage in financial services. Future research should focus on the implications of restricting trade in financial services. If financial services are considered as inputs in the provision of goods and services, might barriers to trade in financial services result in inefficient allocation of productive resources, distorted consumption patterns, and significant welfare losses?

Suggested Citation

  • Sagari, Silvia B., 1989. "International trade in financial services," Policy Research Working Paper Series 134, The World Bank.
    • Handle: RePEc:wbk:wbrwps:134
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    References listed on IDEAS

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    1. Davidson, Russell & MacKinnon, James G, 1981. "Several Tests for Model Specification in the Presence of Alternative Hypotheses," Econometrica, Econometric Society, vol. 49(3), pages 781-793, May.
    2. Balassa, Bela, 1979. "The Changing Pattern of Comparative Advantage in Manufactured Goods," The Review of Economics and Statistics, MIT Press, vol. 61(2), pages 259-266, May.
    3. Bowen, Harry P & Leamer, Edward E & Sveikauskas, Leo, 1987. "Multicountry, Multifactor Tests of the Factor Abundance Theory," American Economic Review, American Economic Association, vol. 77(5), pages 791-809, December.
    4. MacKinnon, James G. & White, Halbert & Davidson, Russell, 1983. "Tests for model specification in the presence of alternative hypotheses : Some further results," Journal of Econometrics, Elsevier, vol. 21(1), pages 53-70, January.
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    Cited by:

    1. Gelb, Alan & Sagari, Silvia, 1990. "Trade in banking services : issues for multilateral negotiations," Policy Research Working Paper Series 381, The World Bank.
    2. Dia, Enzo & VanHoose, David, 2017. "Capital intensities and international trade in banking services," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 46(C), pages 54-69.
    3. Lukasz Konopielko, 1999. "Foreign Banks' Entry into Central and East European Markets: Motives and Activities," Post-Communist Economies, Taylor & Francis Journals, vol. 11(4), pages 463-485.
    4. David VanHoose, 2013. "A Model of International Trade in Banking Services," Open Economies Review, Springer, vol. 24(4), pages 613-625, September.

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