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dc.contributor.authorCornelius, Peter K.en_US
dc.date.accessioned2010-07-27en_US
dc.date.accessioned2010-09-24T14:29:47Z-
dc.date.available2010-09-24T14:29:47Z-
dc.date.issued2000en_US
dc.identifier.urihttp://hdl.handle.net/10419/40271-
dc.description.abstractIn light of the recent financial crises in the emerging markets, the coming-into-force of the financial services agreement under the GATS has been considered a success. While the agreement provides for little new liberalization but rather formalizes the status quo, it was feared that governments could even backtrack on previous commitments in the belief that more open markets could increase the degree of susceptibility by undermining financial stability. Strengthening the financial system's ability to evaluate and manage risk has therefore been identified as a precondition for more ambitious liberalization efforts in the future (Dobson and Jacquet, 1998). Encouragingly, in some countries banks have begun to implement Value-at-Risk approaches as a tool to assess their balance sheet vulnerability. As this paper argues, such an approach could also play a useful role in determining the extent of market risk on the macroeconomic level, with potentially important implications regarding trade in financial services, capital account convertibility, and international crisis management.en_US
dc.language.isoengen_US
dc.publisherDt. Bank Research Frankfurt am Mainen_US
dc.relation.ispartofseriesResearch notes in economics & statistics 00-2en_US
dc.subject.jelF32en_US
dc.subject.jelO16en_US
dc.subject.ddc330en_US
dc.subject.keywordFinancial crisesen_US
dc.subject.keywordtrade liberalizationen_US
dc.subject.keywordcapital flowsen_US
dc.subject.keywordrisk managementen_US
dc.subject.stwInternationaler Dienstleistungsverkehren_US
dc.subject.stwFinanzdienstleistungen_US
dc.subject.stwKapitalmobilitäten_US
dc.subject.stwWTO-Regelnen_US
dc.subject.stwAußenhandelsliberalisierungen_US
dc.subject.stwRisikomanagementen_US
dc.subject.stwWelten_US
dc.subject.stwFinanzmarktkriseen_US
dc.titleTrade in financial services, capital flows, and the value-at-risk of countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn332446816en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:dbrrns:002-
Appears in Collections:Research Notes, Deutsche Bank Research

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