01744cas a2200241 a 4500 AALejournalIMF008335 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451875003 1018-5941 BD-DhAAL BD-DhAAL Valckx, Nico. WTO Financial Services Commitments : Determinants and Impacton Financial Stability / Nico Valckx. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper investigates the factors that have influenced WTO members to take on their chosen level of liberalization commitments in the framework of liberalization of trade in financial services and the impact of such commitments on financial sector stability. The most important factors are economic growth, current account, trends in banking sector development, policy restrictiveness, and peer group effects. The econometric evidence suggests that more liberal commitments may be associated with greater vulnerability to currency and banking crises-most likely a short-term effect, which should be mitigated with time through increased market efficiency and better resource allocation. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2002/214 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/214/001.2002.issue-214-en.xml IMF e-Library