EU Trade in Financial Services with Asean , Policy Coherence for Development and Financial Crisis

Bibliographic Data

ID10071113
AuthorsAlfredo C Robles (De La Salle University Manila, corresponding author)
Year2014
Volume52
Issue6
Pages1324-1341
Publication date2014-04-10
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueJCMS Journal of Common Market Studies (JOURNAL)
Journal identifiersISSN: 0021-9886 • E-ISSN: 1468-5965
PublisherWiley (PUBLISHER • GB)
DOI10.1111/jcms.12148
OpenAlexW1958699608
LanguageEN
References cited22

In the wake of the financial crisis, negotiating free trade agreements ( FTA s) with S outheast A sia has become a priority for the E uropean U nion ( EU ). Paradoxically, all the indications are that the EU will demand that I ndonesia, M alaysia, the P hilippines and T hailand liberalize financial services trade with the EU . This article asks whether the EU 's policy undermines coherence between EU trade and development policies. It argues that the EU and A ssociation of S outheast A sian N ations ( ASEAN ) agree that financial services are crucial for development, but that they differ on the approach to liberalization: the EU advocates broad‐ranging liberalization, whereas ASEAN countries favour a cautious approach, conditioned by their experience of the A sian financial crisis. In view of this divergence, the EU will have to rethink its approach to financial services trade liberalization in negotiations with ASEAN countries

Business · Economics · European union · Financial crisis · Financial services · Free trade · International economics · International trade · Liberalization · Market economy · Negotiation · Political science · Trade in services · Finance · Global Financial Crisis and Policies · Global Financial Regulation and Crises · International Development and Aid

Tools

Open DOISci-Hub