Trade in Financial Services in Southern Africa: What Room for Negotiators Post-2008 Financial Crisis?
"This study assesses the impact of the financial crisis and G20 discussions on regulatory reform and trade in financial services in the SADC region, with a specific focus on its effect on corporate, trade and project financing from the standpoint of the biggest banks in South Africa. The intention is to understand the impacts, if any, on the SADC services negotiations, taking Botswana as a case study. The paper explores the impact of the financial crisis on the economies of Botswana and South Africa, reviews the financial sectors of both countries, analyses the effects of the financial crisis on the financial services sector as well as on financing of trade, corporate and project finance, and then examines regulatory developments. The final part of the paper attempts to answer the questions posed and concludes that the international regulatory reform agenda will certainly drive the content of and approach to the SADC negotiations in respect of financial services trade, and thus may constitute a barrier to such trade."