Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/40271 
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dc.contributor.authorCornelius, Peter K.en
dc.date.accessioned2010-07-27-
dc.date.accessioned2010-09-24T14:29:47Z-
dc.date.available2010-09-24T14:29:47Z-
dc.date.issued2000-
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
dc.language.isoengen
dc.publisher|aDeutsche Bank Research |cFrankfurt a. M.en
dc.relation.ispartofseries|aResearch Notes |x00-2en
dc.subject.jelF32en
dc.subject.jelO16en
dc.subject.ddc330en
dc.subject.keywordFinancial crisesen
dc.subject.keywordtrade liberalizationen
dc.subject.keywordcapital flowsen
dc.subject.keywordrisk managementen
dc.subject.stwInternationaler Dienstleistungsverkehren
dc.subject.stwFinanzdienstleistungen
dc.subject.stwKapitalmobilitäten
dc.subject.stwWTO-Regelnen
dc.subject.stwAußenhandelsliberalisierungen
dc.subject.stwRisikomanagementen
dc.subject.stwWelten
dc.subject.stwFinanzmarktkriseen
dc.titleTrade in financial services, capital flows, and the value-at-risk of countries-
dc.typeWorking Paperen
dc.identifier.ppn821871560en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:dbrrns:002en

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