Ethiopia’s WTO Accession and Financial Services Liberalization: Striking the Balance between Trade Liberalization and Domestic Policy Space

Explaining Liberalization Commitments in Financial Services Trade

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expresse...

Trade Liberalization and Financial Leverage

This paper argues that trade liberalization has a potentially significant impact on financial leverage. We compare the predictions of the trade-off model of capital structure with the pecking order model. In the first case, we suggest that trade liberalization affects the trade-off between the tax advantages of debt and expected bankruptcy costs. This implies that a reduction in domestic tariff...

Trade and Investment Liberalization and China’s Rural Economy: Impacts and Policy Responses after China’s Accession to the WTO

Financial Liberalization and Policy Challenges

Trade and financial liberalization revisited. Mexico’s experience

In the middle of two crises, the first one in 1982 and a second one in 1986, Mexico initiated a new economic strategy, inaugurated with two important reforms: trade liberalization, and financial liberalization and deregulation. With the first reform the economic wanted to reposition Mexico in the international division of labor. With the second one they aimed at attracting capital inflows and m...