The world trade organisation general agreement on trade in services: deregulating trade in Banking servlces in developing countries
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Date
2013-01
Authors
Acho Kum, Victorine Sirri
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Publisher
University of the Free State
Abstract
English: This thesis has investigated the deregulation of trade in Banking Services in developing countries. It has
investigated the deregulation of trade in banking services by an analysis of trade in banking services under the
European Union, the United States of America, China and South Africa. The objective was to analyse the liberation
process that has taken place in these countries and evaluate it in the context of negotiations on multilateral
liberalisation of banking services within the World Trade Organisation framework. In particular, has the path
adopted by these countries represented the best case of successful extensive deregulation in the banking services
industries of developing countries? It is worth understanding whether this route could represent a blueprint for
opening up markets in developing countries. Hence the sequence of deregulation and problems faced by these
countries in deregulating their markets are here studied in order to provide insight in the areas that are likely to be
most difficult to open internationally and are expected to lift impediments to multilateral negotiations. The thesis
cover the traditional services provided by banks, such as acceptance of money transmission services. The thesis
also focus on the principles for regulating the liberalisation provision of trade in banking services because of the
unique character of such services and because, despite the increasing liberalisation of trade in banking services,
national regulatory systems still differ substantially. Attempts made by the Basel Committee with its Core
Principles for effective banking regulation and supervision was discussed to see whether or not this attempt has
assisted toward ensuring that all banks are supervised according to common principles. It has been established
that harmonisation of prudential and supervisory regulations are warranted where entry is restricted by
differences among national regulations. However this should be done without preventing the host state from
retaining the right to regulate foreign banks' activities in the host state only to the extent that such regulation is
necessary for the protection of public interest. The host state may also intervene in those matters expressly
reserve to it, notably liquidity, monetary and advertising. Lastly, an in-depth examination of the World Trade
Organisation legal text was done in an attempt to extract the legal principle relevant to the deregulation of trade in
banking services in developing countries. It was attempted to determine the most common issues between host
countries and home countries, and to compare it. Their usual plea is for international harmonisation of national
regulatory regimes, so as to coordinate their efforts, create a level playing field, and prevents a competitive race to
the bottom among national regulators that ultimately harm the participants in these markets and the reluctance of
the World Trade Organisation to prevent this.
Afrikaans: In hierdieproefskrif is die deregulering van handel in bankdienste in ontwikkelendelandeondersoek. Hierideondersoek is gedoendeurhandel in bankdienste in die EuropeseUnie, die Verenigde State van Amerika, China en Suid-Afrikateanaliseer. Die doel was om die liberaliseringsproseswat in hierdielandeplaasgevind het, teanaliseer en omditteevalueer in die konteks van die onderhandelingeoormultilateraleliberalisering van bankdienstebinne die Wêreldhandelsorganisasie-raamwerk. In besonder is gevra of die pad wathierdielandegevolg het die bestekeusevirsuksesvolleuitgebreidederegulasie in die bankdienstesektorverteenwoordig.Dit is van belangomteverstaan of hierdiewerkswyse 'n bloudrukdaarkanstelvir die oopstelling vanmarkte in ontwikkelendelande. Derhalwe is die proses van deregulering en die problemewat in hierdielandeondervind is, bestudeerominsigtevind in daardiegebiedewatwaarskynlik die moeilikstesalweesominternasionaalooptestel en watverwag word omhindernissevirmultilateraleonderhandelingteverwyder. Die proefskrifhandel met die tradisioneledienstewatdeurbankegelewer word, soosgeldoordragtransaksies. Die proefskriffokusook op die oegmselsvir die regulering van liberaliseringsbepalings van handel in bankdienste as gevolg van die uniekekarakter van sodanigedienste en omdat, ten spyte van die toenemendeliberalisering van bankdienste, die onderskeienasionaleregulatoriesestelsels steeds wesenlik van mekaarverskil. Poginsdeur die Basel Komitee met die uitreiking van hulKernbeginselsvireffektiewebankregulering en oorsig is ookbespreek ten eindetebepaal of hierdiepogingbygedra het omteversekerdatallebankebeheer word ooreenkomstighierdiegemenebeginsels.Daar is vasgesteldat die harmonisering van prudentiale en oorsigregu lasi esnoodsaa klik is waa rtoegangbeperk word deu rverskilletussennasiona lestel seis. Ditmoetegtergedoen word met behoud van die gasheerland se regombuitelandsebanke se aktiwiteite in die gasheerlandtereguleertot die mate watsodanigereguleringnodig is vir die beskerming van die openbarebelang. Die gasheerland mag ookoptree ten aansien van daardieaangleenthedewatuitdruklikbinnesybevoegdhedeval, naamliklikwiditeit, geld en advertensies. Laastens is 'n in-diepteondersoekgedoenna die Wêreldhandelsorganisasie se regsbronne in 'n pogingom die regsbeginsels vas testelwat relevant souwees tot die deregulering van bankdienste in ontwikkelendelande. Daar is gepoogom vas testelwat die meesalgemegeskilpunte in die geskilletussengasheerlande en die buitelandsebanke se eielandeis en omdittevergelyk.Diealgemenepleidooi isvir die internasionaleharmonisering van nasionale regimes ten eindepogingstekoordineer;om 'n gelykespeelvelddaartestel; en omonnodigekompetisietussenreguleerderstevoorkom,aangesiendit die deelnemers in hierdiemarktemag benadeel.
Afrikaans: In hierdieproefskrif is die deregulering van handel in bankdienste in ontwikkelendelandeondersoek. Hierideondersoek is gedoendeurhandel in bankdienste in die EuropeseUnie, die Verenigde State van Amerika, China en Suid-Afrikateanaliseer. Die doel was om die liberaliseringsproseswat in hierdielandeplaasgevind het, teanaliseer en omditteevalueer in die konteks van die onderhandelingeoormultilateraleliberalisering van bankdienstebinne die Wêreldhandelsorganisasie-raamwerk. In besonder is gevra of die pad wathierdielandegevolg het die bestekeusevirsuksesvolleuitgebreidederegulasie in die bankdienstesektorverteenwoordig.Dit is van belangomteverstaan of hierdiewerkswyse 'n bloudrukdaarkanstelvir die oopstelling vanmarkte in ontwikkelendelande. Derhalwe is die proses van deregulering en die problemewat in hierdielandeondervind is, bestudeerominsigtevind in daardiegebiedewatwaarskynlik die moeilikstesalweesominternasionaalooptestel en watverwag word omhindernissevirmultilateraleonderhandelingteverwyder. Die proefskrifhandel met die tradisioneledienstewatdeurbankegelewer word, soosgeldoordragtransaksies. Die proefskriffokusook op die oegmselsvir die regulering van liberaliseringsbepalings van handel in bankdienste as gevolg van die uniekekarakter van sodanigedienste en omdat, ten spyte van die toenemendeliberalisering van bankdienste, die onderskeienasionaleregulatoriesestelsels steeds wesenlik van mekaarverskil. Poginsdeur die Basel Komitee met die uitreiking van hulKernbeginselsvireffektiewebankregulering en oorsig is ookbespreek ten eindetebepaal of hierdiepogingbygedra het omteversekerdatallebankebeheer word ooreenkomstighierdiegemenebeginsels.Daar is vasgesteldat die harmonisering van prudentiale en oorsigregu lasi esnoodsaa klik is waa rtoegangbeperk word deu rverskilletussennasiona lestel seis. Ditmoetegtergedoen word met behoud van die gasheerland se regombuitelandsebanke se aktiwiteite in die gasheerlandtereguleertot die mate watsodanigereguleringnodig is vir die beskerming van die openbarebelang. Die gasheerland mag ookoptree ten aansien van daardieaangleenthedewatuitdruklikbinnesybevoegdhedeval, naamliklikwiditeit, geld en advertensies. Laastens is 'n in-diepteondersoekgedoenna die Wêreldhandelsorganisasie se regsbronne in 'n pogingom die regsbeginsels vas testelwat relevant souwees tot die deregulering van bankdienste in ontwikkelendelande. Daar is gepoogom vas testelwat die meesalgemegeskilpunte in die geskilletussengasheerlande en die buitelandsebanke se eielandeis en omdittevergelyk.Diealgemenepleidooi isvir die internasionaleharmonisering van nasionale regimes ten eindepogingstekoordineer;om 'n gelykespeelvelddaartestel; en omonnodigekompetisietussenreguleerderstevoorkom,aangesiendit die deelnemers in hierdiemarktemag benadeel.
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Keywords
The general agreement on trade in services, The prudential carve -out, Most favoured nation treatment principle, National treatment principle, Market access, The annex on financial services, The understanding on commitment in financial services, Commercial presence, Cross border trade, The World Trade Organisation, International trade, Foreign trade regulation -- Developing countries, General Agreement on Tariffs and Trade (Organization), Thesis (LL.D. (Mercantile Law))--University of the Free State, 2013