Experience has shown there has been a need for prudential measures to be imposed on financial services. The global financial crisis of 2007-08 is quite an emblematic example. Therefore, states and financial institutions have united to establish standards as for financial services like the Basel...

This paper analyses the role of services in international trade through the lens of global value chains (GVCs). Services account for more than 70% of world GDP but only for around 20% of world trade in balance of payments terms. In value added terms, accounting for services embodied in exported...

Services is the fastest-growing sector of today's global economy and trade in services is the most dynamic segment of world trade. However, its potential remains constrained by a variety of barriers: trade costs are estimated to be almost double those in goods, and more than 40% of trade costs...