XIA Tianran, CHEN Xian：Measurement of Barriers to International Financial Services Trade——A Comparative Study of 83 Countries and Regions

Abstract：This paper uses the latest data from the United Nations Service Trade Statistics Database to build the export data of the financial services for 83 countries and regions over 13 years, and estimates the trade barriers for these countries.We improve the classical gravity model by introducing the two-way fixed effects, and eliminate the potential bias in old method.We find that the trade barriers are high for financial services; advanced economies have smaller barriers than the less advanced economies but they have more diverse trade barriers.The result also shows that China's financial service barriers are high, and the road to liberalization is still very long.

Key words： Financial Services    Barrier to Trade in Services    Gravity Model

source:Finance & Trade Economics ,No.9,2015