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The Prudential Carve-Out for Financial Services - Rationale and Practice in the GATS and Preferential Trade Agreements (Hardcover)
Loot Price: R2,739
Discovery Miles 27 390
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The Prudential Carve-Out for Financial Services - Rationale and Practice in the GATS and Preferential Trade Agreements (Hardcover)
Series: Cambridge International Trade and Economic Law
Expected to ship within 12 - 17 working days
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The World Trade Organization's General Agreement on Trade in
Services (GATS) sets out a framework and rules for the
liberalization of international trade in services. Paragraph 2(a)
of the GATS Annex on Financial Services is generally known as the
Prudential Carve-Out (PCO). Notwithstanding GATS obligations, it
allows WTO Members to pursue prudential regulatory objectives. This
book studies the GATS PCO in light of its negotiating history and
economic rationale as well as PCOs in all preferential trade
agreements notified to the WTO Secretariat up to the summer of
2017. The author clarifies the state of play of international
cooperation on financial services regulation; provides a current
understanding of the GATS PCO; analyses how PCOs are drafted in
preferential trade agreements and, finally, he seeks to understand
whether alternative approaches to the mainstream understanding of
the PCO are possible and suggests options for reform.
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