Financial Services Trade in Special Economic Zones

28 Pages Posted: 7 Jan 2021

See all articles by Panos Delimatsis

Panos Delimatsis

Tilburg Law and Economics Center (TILEC); Tilburg Law School

Date Written: December 25, 2020

Abstract

The mushrooming of Special Economic Zones (SEZs) in recent years has led to a significant increase in the supply of attractive incentives for investors looking for opportunities abroad. SEZs are self-contained regimes, inextricably associated with investment promotion policies and domestic industrial policy in general, that many times form part of a broader strategic governmental planning that aims at experimenting with economic rule-making in strictly defined territorial and jurisdictional boundaries. While empirical evidence still is inconclusive, SEZs can contribute to economic development at the domestic level through a varying degree of channels. This is even more the case with services-only SEZs, a new phenomenon that exemplifies the rising important of trade in services but also the ‘servicification trend’ that drives global economic activity. Against this background, this article examines the case for services in SEZs and offers a tour d’horizon of the current services-related SEZ landscape. Furthermore, the article critically reviews the patterns, traits and limits of trade in financial services within SEZ and discusses the relevance of the General Agreement on Trade in Services (GATS) at this juncture. The article concludes with a discussion of potential development-related benefits ensuing from trade in financial services within SEZs.

Keywords: trade in services; special economic zones (SEZs); General Agreement on Trade in Services (GATS)

JEL Classification: F01, F02, F13, F15, F21, F36, G15, G18, G20, G28, K33, L51

Suggested Citation

Delimatsis, Panagiotis, Financial Services Trade in Special Economic Zones (December 25, 2020). TILEC Discussion Paper Forthcoming, Tilburg Law School Research Paper Forthcoming, Available at SSRN: https://ssrn.com/abstract=3758141 or http://dx.doi.org/10.2139/ssrn.3758141

Panagiotis Delimatsis (Contact Author)

Tilburg Law and Economics Center (TILEC) ( email )

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HOME PAGE: http://www.tilburguniversity.edu/staff/p-delimatsis

Tilburg Law School ( email )

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Netherlands

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