This studyprovides a unique framework for analyzing the role of the GATS and the WTO in the liberalization and regulation of the financial services sector.

Key economists for the government and for the Microsoft Corporation lay out their views on the key issues and then respond to the views presented by the opposing side.

This studyrebuts much of the traditional rationale forregulatory restrictions and provides a list of principles of regulation that would serve as a model for global accounting practices.

Contributors review the collapse of the Bretton Woods system of fixed exchange rates and the historic 1985 agreement by the Group of Five.