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Financial Liberalization in the WTO and Its Impact on Korea

초록/요약

The objective of this thesis was to examine whether the liberalization of financial services would bring about the financial crisis again. This thesis focuses on its inevitability and a positive effect for our financial industry. This study was conducted based on regulatory framework of the WTO Agreement on Financial Services. We consider main characteristics of GATS and members’ schedule of commitment. Also, we show its impacts on Korea’s financial market and strategy to improve international competitiveness. It concludes that since it will proceed continuously the liberalization negotiation, we should make a critical situation to be an opportunity for further economic growth through financial liberalization and political support for reinforcement of domestic financial industry.

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