In light of the recent financial crises in the emerging markets, the coming-into-force of the financial services agreement under the GATS has been considered a success. While the agreement provides for little new liberalization but rather formalizes the status quo, it was feared that governments...

Henrik Enderlein, Hertie School of Governance, Berlin, befürchtet, dass die Erwartungen, die mit der Wahl Barack Obamas zum neuen US-Präsidenten verknüpft sind, zu hoch seien. Obama erbe mit seinem Amtsantritt eine kaum zu bewältigende ökonomische Herausforderung, so dass die...

Openness to trade is one factor that has been identified as determining whether a country is prone to sudden stops in capital inflows, crashes in currencies, or severe recessions. Some believe that openness raises vulnerability to foreign shocks, while others believe that it makes adjustment to...