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The Prudential Carve-Out for Financial Services

Rationale and Practice in the GATS and Preferential Trade Agreements

Carlo Maria Cantore (Universiteit Antwerpen, Belgium)

$179.95

Hardback

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English
Cambridge University Press
28 June 2018
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.

By:  
Imprint:   Cambridge University Press
Country of Publication:   United Kingdom
Dimensions:   Height: 235mm,  Width: 156mm,  Spine: 18mm
Weight:   530g
ISBN:   9781108415767
ISBN 10:   1108415768
Series:   Cambridge International Trade and Economic Law
Pages:   282
Publication Date:  
Audience:   Professional and scholarly ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active
1. The subject matter of the study; 2. International cooperation on financial services and prudential measures: WTO and beyond; 3. The current understanding of the GATS PCO; 4. Prudential Carve-Outs in Preferential Trade Agreements; 5. A possible alternative approach; 6. Suggestions for reform.

Carlo Maria Cantore is a Lecturer in International Trade and Investment Law at the University of Antwerp.

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