Legal barriers to the international trade in financial services
New global trade regimes affect markets everywhere in the world. For this reason corporate financial firms which contemplate engaging in global business, are taking the agreements of the World Trade Commission and the World Trade Organisation particularly seriously. Until 1993, when the General Agre...
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Veröffentlicht in: | The Comparative and international law journal of southern Africa 2001-03, Vol.34 (1), p.109-131 |
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creator | van Jaarsveld, Izelde van Jaarsveld, IL |
description | New global trade regimes affect markets everywhere in the world. For this reason corporate financial firms which contemplate engaging in global business, are taking the agreements of the World Trade Commission and the World Trade Organisation particularly seriously. Until 1993, when the General Agreement on Trade and Services (GATS) was adopted, no global consensus existed on how services should be traded internationally. Since the end of 1997, when the last discussions on trade in services were completed, a number of obstacles in transporting services globally have been encountered. Key problems to the international trade of services include burdensome licensing and certificate procedures, currency controls, transfer restrictions, limits on foreign equity. selective taxation and equity participation. In this article the discussion on the legal barriers to the mobility of financial services revolves around the problems of rendering international financial (banking) services in developing countries. |
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For this reason corporate financial firms which contemplate engaging in global business, are taking the agreements of the World Trade Commission and the World Trade Organisation particularly seriously. Until 1993, when the General Agreement on Trade and Services (GATS) was adopted, no global consensus existed on how services should be traded internationally. Since the end of 1997, when the last discussions on trade in services were completed, a number of obstacles in transporting services globally have been encountered. Key problems to the international trade of services include burdensome licensing and certificate procedures, currency controls, transfer restrictions, limits on foreign equity. selective taxation and equity participation. In this article the discussion on the legal barriers to the mobility of financial services revolves around the problems of rendering international financial (banking) services in developing countries.</description><subject>Bank capital</subject><subject>Bank loans</subject><subject>Banking regulation</subject><subject>Banking services</subject><subject>Currency</subject><subject>Currency controls</subject><subject>Developing countries</subject><subject>Economic regulation</subject><subject>Financial services</subject><subject>GATS</subject><subject>GATT</subject><subject>General Agreement on Tariffs and Trade</subject><subject>General Agreement on Trade in Services</subject><subject>Global trade regimes</subject><subject>Interest rates</subject><subject>International banks</subject><subject>International trade</subject><subject>Legal barriers</subject><subject>Macroeconomic policies</subject><subject>Regulatory policies</subject><subject>Services</subject><subject>South Africa</subject><subject>Trade barriers</subject><issn>0010-4051</issn><issn>2522-3062</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2001</creationdate><recordtype>article</recordtype><sourceid/><recordid>eNotj8tqwzAUREVpoSbNJxS8LwbdK0txVsWEvoKhm-zF1cOtTCoHSS307-uQzmbgzDAwV6xCidgIrvCaVZwDb1ou4Zatc574Iqmgg7Zij4P_oGNtKKXgU67LXJdPX4dYfIpUwhyXtCRyZ1aPIVK0YUHZp59gfb5jNyMds1__-4odnp8Ou9dmeH952_VDM8kOG_Rj51yHTkm3VQBATnFlqBMeVevajSCvjN3Yzlgrto7jCCNKiQoUSsvFij1cZjOZEH3Rmfzp22jgErnu9_354vmhRsSlfX9pT7nMSZ9S-KL0q1GgBGiF-ANwn1CE</recordid><startdate>20010301</startdate><enddate>20010301</enddate><creator>van Jaarsveld, Izelde</creator><creator>van Jaarsveld, IL</creator><general>Institute of Foreign and Comparative Law, University of South Africa</general><general>Institute of Foreign and Comparative Law</general><scope/></search><sort><creationdate>20010301</creationdate><title>Legal barriers to the international trade in financial services</title><author>van Jaarsveld, Izelde ; van Jaarsveld, IL</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-j582-2ef8dd82d65d96111ad606ba83e264d473ae6bc7c8bcc39d02f1f255261625c03</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2001</creationdate><topic>Bank capital</topic><topic>Bank loans</topic><topic>Banking regulation</topic><topic>Banking services</topic><topic>Currency</topic><topic>Currency controls</topic><topic>Developing countries</topic><topic>Economic regulation</topic><topic>Financial services</topic><topic>GATS</topic><topic>GATT</topic><topic>General Agreement on Tariffs and Trade</topic><topic>General Agreement on Trade in Services</topic><topic>Global trade regimes</topic><topic>Interest rates</topic><topic>International banks</topic><topic>International trade</topic><topic>Legal barriers</topic><topic>Macroeconomic policies</topic><topic>Regulatory policies</topic><topic>Services</topic><topic>South Africa</topic><topic>Trade barriers</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>van Jaarsveld, Izelde</creatorcontrib><creatorcontrib>van Jaarsveld, IL</creatorcontrib><jtitle>The Comparative and international law journal of southern Africa</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>van Jaarsveld, Izelde</au><au>van Jaarsveld, IL</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Legal barriers to the international trade in financial services</atitle><jtitle>The Comparative and international law journal of southern Africa</jtitle><date>2001-03-01</date><risdate>2001</risdate><volume>34</volume><issue>1</issue><spage>109</spage><epage>131</epage><pages>109-131</pages><issn>0010-4051</issn><eissn>2522-3062</eissn><abstract>New global trade regimes affect markets everywhere in the world. 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source | Jstor Complete Legacy; HeinOnline Law Journal Library |
subjects | Bank capital Bank loans Banking regulation Banking services Currency Currency controls Developing countries Economic regulation Financial services GATS GATT General Agreement on Tariffs and Trade General Agreement on Trade in Services Global trade regimes Interest rates International banks International trade Legal barriers Macroeconomic policies Regulatory policies Services South Africa Trade barriers |
title | Legal barriers to the international trade in financial services |
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