The bracers of armor work against incorporeal touch attacks, but not regular touch attacks.
Yes, bracers of armor function versus incorporeal touch attacks because they are described as being made of force. There's nothing about them that is more or less protective versus the vast majority of spells than normal armor. They still only provide an armor bonus. Barring spells such as heat metal that can target armor directly, there's little difference to most spells where your armor bonus comes from; a touch attack ignores armor bonuses.
Bracers of armor +8, with a cost of 64,000gp, are the most powerful versions available in the Core books. The value of the ghost touch ability is that, for corporeal wearers, both the enchanted armor's armor bonus and the enhancement bonus are effective versus incorporeal attacks. So, for 65,750gp, a paladin could wear +5 ghost touch full plate, gaining +13 to AC vs both material and incorporeal attacks. That's +5 to AC for 1750gp; the cost of the masterwork full plate that was enchanted to +5 and had the +3 ghost touch property added.
For anyone who can ignore Armor check penalties, or for whom Spell Failure is unimportant, the Ghost Touch Full Plate +5 is very often preferable to Bracers of Armor +8.
Touch attacks and incorporeal touch attacks (such as the attack of an allip (Monster Manual 10)) are two different things, though the rules for them look very alike.
Touch Attacks: Some attacks disregard armor, including shields and natural armor. For example, a wizard’s touch with a shocking grasp (PH 279) spell hurts you regardless of what armor you’re wearing or how thick your skin happens to be. In these cases, the attacker makes a touch attack roll (either ranged or melee). When you are the target of a touch attack, your AC doesn’t include any armor bonus, shield bonus, or natural armor bonus.[...] --Player's Handbook 136
Incorporeal Subtype: [...] An incorporeal creature’s attacks pass through (ignore) natural armor, armor, and shields, although [...] force effects (such as mage armor) work normally against it [...] --Monster Manual 310-11
The general rules for incorporeal creatures in the core books don't mention incorporeal touch attacks directly. Instead the monster entries refer to the attacks of incorporeal creatures in the subtype with a kind of shorthand, calling them 'incorporeal touch attacks'.
This naming is confusing when you get to the exception for armor and shield bonuses from force effects in the incorporeal subtype rules. The two sets of rules are indeed almost identical, but the idea behind them is what seems to cause confusion.
An 'incorporeal touch attack' is simply a shorter way of saying 'an attack by an incorporeal creature that passes through a material creature's armor and shield'. As the story goes, the incorporeal creature is not actually touching the material creature with its attacks; it simply puts its hand through the same space that the material creature's body inhabits, and bad things happen to the material creature.
As the example in the entry from the PH shows, a touch attack is just that; a touch. It doesn't matter if the attacker touches your face, armor, shield, or anything else on you; any touch will allow the attack to succeed. An incorporeal touch doesn't touch the target's armor or anything else; it bypasses them.
That bypassing is negated by force effects. And that's why bracers of armor and rings of force shield are effective versus incorporeal touch attacks ('the attacks of incorporeal creatures'), but not touch attacks (such as a wizard, incorporeal or material, attacking with a shocking grasp spell). You retain armor and shield bonuses from force effects versus the attacks of incorporeal creatures, but still lose their benefit versus touch attacks.