Please use this identifier to cite or link to this item:
http://dx.doi.org/10.25673/76589
Title: | Liberalization and Rules on Regulation in the Field of Financial Services in Bilateral Trade and Regional Integration Agreements |
Author(s): | Dietrich, Diemo Finke, Jasper Tietje, Christian |
Granting Institution: | Martin-Luther-Universität Halle-Wittenberg |
Issue Date: | 2010-06 |
Type: | Book |
Language: | German |
Publisher: | Institut für Wirtschaftsrecht |
Abstract: | The recent international financial crisis has sparked a fierce debate about its causes and about how to prevent a recurrence. As liberalization and deregulation were widely considered being among the major culprits, de -liberalization and re-regulation seemed a natural response. However, an economic appr oach to this issue does not support such black-and-white solutions. Although liberalizing financial services sectors may threaten a developing country’s financial stability in the short run, it also fosters long-run economic growth if sound legal and economic institutio ns are in place that can mitigate the adverse side-effects of liberalization. For achieving this objective, states need the policy space to implement such regulatory measures. Contrary to a wide-spread belief, states are not unduly hampered by bilateral or multilateral agreem ents. Instead, by providing a far-reaching exception concerning prudential regulation states can define their own regulatory approach. The challenge for developing countries thus is to install regulatory capacities. |
URI: | https://opendata.uni-halle.de//handle/1981185920/78541 http://dx.doi.org/10.25673/76589 |
Open Access: | Open access publication |
License: | In Copyright |
Journal Title: | Beiträge zum Transnationalen Wirtschaftsrecht |
Volume: | 97 |
Original Publication: | https://omp.bibliothek.uni-halle.de/iwr/catalog/book/191 |
Appears in Collections: | Open Monograph Press ULB |
Files in This Item:
File | Description | Size | Format | |
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BeitraegeTWR_97.pdf | 774.16 kB | Adobe PDF | View/Open |