Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/85553
Authors: 
Francois, Joseph F.
Schuknecht, Lutger
Year of Publication: 
1999
Series/Report no.: 
Tinbergen Institute Discussion Paper 99-028/2
Abstract: 
In this paper we explore linkages between financial services tradeand growth. We offer aformalization of the argument that trade, through the fostering offinancial market integration,may yield important long-run effects related to increasedcompetition. The relationshipsformalized here link long-run economic performance to scale economiesand cost structures inthe financial services sector, and to market concentration in thesector. We first develop ananalytical model. This motivates an econometric exercise. Cross-country growth regressionspoint to a strong positive relationship between financial sectorcompetition and financial sectoropenness, and between growth and financial sector competition.
Subjects: 
financial services trade
service trade and imperfect competition
trade in services and growth
JEL: 
F40
F13
F43
Document Type: 
Working Paper

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