Review
From the Back Cover
During the negotiations in the WTO in Geneva, the industrial and developing countries agreed to lock in a series of reforms that had been achieved in many countries through unilateral action, regional cooperation, and, more recently, as a condition of IMF assistance. Dobson and Jacquet evaluate the WTO financial services negotiations agreement and analyze the basic rationale for FSA: that efficient financial sectors are important contributors to economic growth and stability, a conclusion that is highlighted by the pivotal role of weak financial sectors in triggering the Asian financial crisis. They assess the impact of the agreement and the financial crisis on financial-sector liberalization in several important emerging-market economies. The authors explain remaining obstacles to establishing efficient and open financial sectors and conclude with a blueprint for liberalizing financial services in the future.
