Regulatory Implications of Multilateral Trade Liberalisation for the Global Services Market: The Case of the Trade in Services Agreement (TiSA)
Lieto, Giovanni Di; Treisman, David | December 2018
Abstract
Bilateral commitments on the liberalisation of services markets typically build upon those made by individual countries in the World Trade Organization (WTO) under the General Agreement of Trade in Services (GATS). These commitments usually guarantee a noodle bowl of preferential market access, but not much in the way of regulatory harmonisation for globalised services industries. This study aims to investigate the normative and economic implications of multilateral market openings and regulatory harmonisation of the global services sectors beyond the bilateral and WTO/GATS frameworks. The mobile communications industry serves as the initial benchmark analysis in order to empirically assess whether the multilateral liberalisation of the global services market can potentially respond more effectively to the growing transnational competition in production inputs, consumption outputs, and capital attraction in a broader pool of service-oriented economies. Ultimately, this study argues that the multilateral opening of the global services market is on balance beneficial to the domestic services industries, and as such the WTO/GATS framework can be superseded by further economic integration and regulatory harmonisation in future multilateral trade agreements currently under negotiation, such as the Trade in Services Agreement (TiSA).
Citation
Lieto, Giovanni Di; Treisman, David. 2018. Regulatory Implications of Multilateral Trade Liberalisation for the Global Services Market: The Case of the Trade in Services Agreement (TiSA). © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/9418.ISSN
2233-9140
Keywords
Free Trade
Trade Facilitation
Trade
Economic integration
Regional Economic Integration
Intraregional Trade
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Macroeconomic Stabilization
Economic planning
Economic structure
Growth policy
Trade relations
Trade policy
Trade policy
Economic development
Economies in transition
International economy
Border integration
Economic integration
Gross domestic product
Trade policy
Trade Regulations
Exchange Rate
Regional economics
Economic forecasting
Economic development projects
Success in business
Business
Free trade
Business
Economics
Communication in economic development
Restraint of trade
International economic integration
Trade blocs
East-West
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Citable URI
http://hdl.handle.net/11540/9418Metadata
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