Measuring Services Trade Liberalization and Its Impact on Economic Growth : An Illustration

Measuring Services Trade Liberalization and Its Impact on Economic Growth : An Illustration

The authors explain how the output growth effect from liberalizing the service sectors differs from the effect from liberalizing trade in goods. They also suggest using a policy-based rather than outcome-based measure of the openness of a country&#...

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Bibliographic Details
Main Authors: Mattoo, Aaditya, Rathindran, Randeep, Subramanian, Arvind
Format: Policy Research Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
ACCOUNTING PRINCIPLES
AGRICULTURE
ALLOCATIVE EFFICIENCY
BANK REGULATION
BANKING REGULATION
BANKING SECTOR
BANKING SERVICES
BANKING SYSTEM
BANKING SYSTEMS
BARRIERS TO ENTRY
BUSINESS SERVICES
CAPITAL FORMATION
CAPITAL GOODS
CAPITAL MARKETS
CD
CONSUMER SURPLUS
COUNTRY DATA
DEVELOPED COUNTRIES
DIRECT INVESTMENT
ECONOMETRIC EVIDENCE
ECONOMIC GROWTH
ECONOMIC PERFORMANCE
ECONOMIC WELFARE
ECONOMIES OF SCALE
EMPIRICAL EVIDENCE
EMPLOYMENT
EQUILIBRIUM
FACTORS OF PRODUCTION
FINANCIAL DEVELOPMENT
FINANCIAL PERFORMANCE
FINANCIAL REGULATION
FINANCIAL SECTOR
FINANCIAL SERVICES
FINANCIAL SYSTEMS
FOREIGN BANKS
FORMAL ANALYSIS
GDP
GNP
GROWTH MODELS
GROWTH PERFORMANCE
GROWTH RATE
GROWTH RATES
HEALTH SERVICES
HUMAN CAPITAL
IMPORTS
INDUSTRIAL ECONOMIES
INEFFICIENCY
INFLATION
INFLATION RATE
INSTITUTIONAL QUALITY
INTERMEDIATE GOODS
INTERNATIONAL DEVELOPMENT
INTERNATIONAL TRADE
LEARNING
LONG RUN GROWTH PERFORMANCE
MACROECONOMIC IMBALANCES
MACROECONOMIC VARIABLES
MONOPOLY RENTS
NATIONAL POLICIES
NEW ENTRANTS
POLITICAL STABILITY
POSITIVE EFFECTS
POSITIVE EXTERNALITIES
PRIMARY EDUCATION
PRIVATIZATION
PRODUCTIVITY
PURCHASING POWER
PURCHASING POWER PARITY
REAL GDP
REGRESSION ANALYSIS
REGULATORY QUALITY
RESOURCE ALLOCATION
SAVINGS
SCALE EFFECT
SCALE EFFECTS
SOFTWARE DEVELOPMENT
SYSTEMIC RISK
TARIFF BARRIERS
TECHNOLOGICAL PROGRESS
TECHNOLOGY TRANSFER
TELECOM SECTOR
TELECOMMUNICATIONS
TELECOMMUNICATIONS LIBERALIZATION
TELECOMMUNICATIONS SECTOR
TELECOMMUNICATIONS SERVICES
TELEDENSITY
THEORETICAL MODELS
TOTAL FACTOR PRODUCTIVITY
TOTAL FACTOR PRODUCTIVITY GROWTH
TRADE LIBERALIZATION
TRADE POLICIES
TRANSACTION COSTS
TRANSACTIONS COSTS
TRANSPORT
Online Access:http://documents.worldbank.org/curated/en/2001/08/1561490/measuring-services-trade-liberalization-impact-economic-growth-illustration
http://hdl.handle.net/10986/19568
Description
Summary:The authors explain how the output growth effect from liberalizing the service sectors differs from the effect from liberalizing trade in goods. They also suggest using a policy-based rather than outcome-based measure of the openness of a country's service regime. They construct such openness measures for two key service sectors' basic telecommunications and financial services. Finally, the authors provide some econometric evidence--relatively strong for the financial sector and less strong, but nevertheless statistically significant, for the telecommunications sector--that openness in services influences long-run growth performance. Their estimates suggest that growth rates in countries with fully open telecommunications and financial services sectors are up to 1.5 percentage points higher than those in other countries.

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