|Title / Titel||Trade and Finance: The Regulatory Impact of Liberalized Financial Services|
|Abstract (PDF, 14 KB)|
|Summary / Zusammenfassung||The project looks at the different regulatory appraches and policies of the World Trade Organization (WTO) and International Financial Institutions (IFIs). While international trade is mainly rule-based, operations of IFIs are determined by economic models, codes of conduct, memoranda of understanding and other non-legally binding instruments. The study will first identify the potential sources of tension that result from the different regulatory concepts in international trade and finance and then explore the impacts of these conflicts.
In its first part, the study will analyze the regulatory framework with regard to both economic and policy concepts as well as regulatory concepts. In the second part, the impacts of the different regulatory approaches will be examined. Three areas seem of particular importance: Institutional aspects, market-related aspects and societal impacts ("sustainability"). The third section will provide the broad picture by developing cirteria and a methodology on how to asses the impacts on the society as a whole, and in particular on sustainable development.
The study attempts to close with a set of appropriate recommendations on how to reconcile the different regulatory approaches. At the domestic level, the emphasis will lie on democratic decision-making procedures and the extent of directed self-regulation. With respect to the international level, coordination mechanisms as well as an integrated methodology will be suggested.
|Keywords / Suchbegriffe||Financial services, WTO, IMF, World Bank, regulation, international trade|
|Project leadership and contacts /
Projektleitung und Kontakte
|Funding source(s) /
|SNF (Personen- und Projektförderung)
|Duration of Project / Projektdauer||Oct 2003 to Dec 2007|