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1、外文翻译原文InternationalTradeinFinancialServicesMaterialSource:TheServiceIndustriesJournal,No.6,September2005Author:ALLANWEBSTERandPHILIPHARDWICKInternationaltradeinfinancialservicesisatopicofsomeimportancebothtothefinancialservicessectoritselfandininternationaltraden
2、egotiations.Unfortunately,intrinsicproblemsindefiningandmeasuringtradeinservices,combinedwithalackofdatainmanycountries,havemadeempiricalanalysisoftradeinfinancialservicesdifficult.Recentimprovementsindata,althoughstillprovidingonlyalimitedcoverage,donowprovideab
3、asisforanalysis.Inthispaper,weusedatafromtheOECDInternationalTradeinServicesStatistics2001databasetoconductananalysisoftradeinfinancialservicesbasedonstandardtheoriesandempiricaltechniquesforinternationaltrade.Ourresultssuggestthatthekeyconceptsofinternationaltra
4、deareofuseinunderstandinginternationaltradeflowsinfinancialservices.Inparticular,wefindevidenceofsignificantvolumesofintra-industrytradeinfinancialservices,aswellassignificantvolumesofinter-industrytradeforsomecountries,includingtheUK.UsingBalassa’s‘revealedcompa
5、rativeadvantage’index,themosthighlyrankedcountriesareBelgium-Luxembourg,Italy,Switzerland,theUK,theUSAandGreece.Usingthe‘netexportratio’,thecountriesthatarerankedhighestincludeGermany,Switzerland,theUK,theUSAandBelgium-Luxembourg.INTRODUCTIONThequestionofwhichcou
6、ntrieshaveacomparativeadvantageinfinancialservicesisbecomingincreasinglyrelevantandimportantastheworld’sfinancialmarketsbecomemoreandmorecompetitive.Theprocessofglobalisation,thegradualharmonisationofregulatorysystems,particularlyintheEuropeanUnion(EU),andfinanci
7、alreformsinindividualstatesinresponsetotheWorldTradeOrganisation’sGeneralAgreementonTradeinServices(GATS)areallleadingtoagradualtransformationoftheworld’sfinancialsystem.Asaresult,therehasbeenanexpandingliteratureconcernedwiththedeterminantsofinternationaltradein
8、financialservices.GATSwasestablishedin1995followingtheUruguayRoundoftradenegotiations.Itcanbedescribedasanintergovernmentalagreementto‘establishamultilateralfr
