This book fills a large gap in the literature on trade in services. It focuses on the dynamics of trade and investment liberalization in a sector of considerable technical and regulatory complexity--financial services. This volume chronicles the recent experiences of governments in Latin America that have successfully completed financial services negotiations through preferential trade agreements. One of the unique features of this book is the three in-depth country case studies--Chile, Colombia, and Costa Rica--all written by trade experts who led the negotiations of their respective...

The global financial crisis triggered a broad reassessment of economic integration policies in developed and developing countries worldwide. The crisis-induced collapse in trade was the sharpest ever since World War II, affecting all countries and all product categories. A huge shock to the trading system, combined with severe macroeconomic instability, makes it natural for policymakers to call into question the basic underlying assumptions of trade liberalization and openness. In particular, outward-oriented or export-led growth strategies are being reassessed as openness is increasingly...