An Empirical Analysis of Growth and Structure of Service Sector in India

2007 ◽  
Vol 11 (4) ◽  
pp. 45-52 ◽  
Author(s):  
Suparn K. Sharma ◽  
Jyoti Sharma
Keyword(s):  
Economic Development ◽  
Development Strategy ◽  
Service Sector ◽  
Structural Changes ◽  
Services Sector ◽  
Growth Performances ◽  
The World ◽  
National Economies ◽  
Two Sectors

Economic development has been associated with structural changes in the national economies. On the path of its economic development, India has reached a level where there is predominance of service sector and it has become the mainstay of the growth process especially over the last ten years. Uniqueness and sudden growthpattern of service sector of India needs to be recognised, understood and analysed with its implications for long term development strategy and policy. It is against this backdrop, that the present study has been designed. It is an attempt to study the trends and implications of sectoral growth with special reference to service sector in India. The analysis brings out the fact that in comparison to the world scenario, growth of service sector in India is not so pronounced. The study has found that except for the service sector hardly any significant change can be identified in the growth performances of the other two sectors in the post-reforms period. A striking feature of India's development is that growth in Indian service sector is not accompanied by additional employment opportunities, which have brought structural imbalances. The results reveal trade hotel, transport and communication as one of the most contributing sector of service sector to GDP. The study emphasised that the services sector is one of the areas, where India needs to focus on sharply to increase its share in the global services trade. However, it is imperative that the industrial and agricultural sectors also grow rapidly but unfortunately till now; the relatively jobless nature of growth in India's services sector underscores this need.

scholarly journals Efficiency Problems in the System of Key National Indicators

2012 ◽  
pp. 168-171
Author(s):  
E. A. Brendeleva
Keyword(s):  
Economic Development ◽  
Social Welfare ◽  
Development Strategy ◽  
The State ◽  
Institutional Characteristics ◽  
National Economies ◽  
The Way

The article talks about the key national indicators characterizing economic development, as well as the problems associated with the aims set in the framework of these indicators. The paper also looks at the possible changes in the existing system to asses the state of national economies and social welfare, as well as in the way institutional characteristics of a particular country are considered in this system, with the final aim of deciding on the states’ long term development strategy.

scholarly journals Assessment of the Industrial Structure and its Influence on Sustainable Economic Development and Quality of Life of the Population of Different World Countries

2020 ◽  
Vol 12 (5) ◽  
pp. 2072 ◽  
Author(s):  
Inna Gryshova ◽  
Mykola Kyzym ◽  
Viktoriia Khaustova ◽  
Volodymyr Korneev ◽  
Hennadii Kramarev
Keyword(s):  
Quality Of Life ◽  
Economic Growth ◽  
Economic Development ◽  
Service Sector ◽  
Structural Changes ◽  
Industrial Structure ◽  
Positive Influence ◽  
Sustainable Economic Development ◽  
The World

The article proves that despite a significant growth in the service sector in recent years, industry remains the main engine of economic growth. Moreover, using the analysis of statistical data, it is shown that the development of industrial complexes of countries of the world is accompanied by corresponding structural changes, which in turn determines their economic development in general. The study aims to solve the following issues: which structure of the national industry can be considered progressive under modern conditions, i.e., can lead to progress and sustainable socio-economic growth; whether there is a correlation between the progressive structure of the country’s industry and its economic development and the quality of life of its population; how the approach of the country’s industrial structure to its progressive state influences the country’s economic development and quality of life of its population. The purpose of the study is to justify or refute the hypothesis about influence of progressiveness of the industrial structure on sustainable economic development and quality of life of the population. The main methods used in the study are cluster analysis and integral assessment. The statistical basis of the study is the data on inter-branch balances for 36 countries of the world for 2009, 2011 and 2014. The results obtained in the study allowed confirming the hypothesis about the positive influence of approach of the industrial structure of countries of the world to its progressive state on the sustainable economic development and quality of life of their population. This conclusion can be considered as the basis for forming the state policy of the world’s countries to develop their economies and improve the quality of life of their population.

Russia’s Development Strategy: Guidelines and Restrictions

2008 ◽  
pp. 119-130 ◽  
Author(s):  
V. Senchagov
Keyword(s):  
Economic Development ◽  
Development Strategy ◽  
Conceptual Basis ◽  
The Core ◽  
Economic Development Strategy ◽  
Socio Economic Development ◽  
Rates Of Growth

The core of Russia’s long-term socio-economic development strategy is represented by its conceptual basis. Having considered debating points about the essence and priority of the strategy, the author analyzes the logic and stages of its development as well as possibilities, restrictions and risks of high GDP rates of growth.

DEVELOPMENT OF THE WORLD MARKET OF SERVICES IN TURBULENCE CONDITIONS AND CHANGES

2017 ◽  
Author(s):  
Larysa Nosach ◽  
◽  
Victoria Morgun ◽  
Keyword(s):  
Economic Development ◽  
International Trade ◽  
Service Sector ◽  
World Market ◽  
Global Dimension ◽  
Trade In Services ◽  
Current State ◽  
The World

The author's research of the current state and features of the development of the world market for services in conditions of turbulence of world processes was carried; the world leaders of the service sector in the global dimension and leaders of the most dynamic articles of service categories were identified; the share of world exports of services by countries by the level of their economic development was justified; weaknesses in the assessment of indicators of international trade in services were identified; the research is based on UNCTAD statistics.

Changing Composition and Growth Performance of Services Sector in India after Liberalization

2020 ◽  
pp. 432-436
Keyword(s):  
Growth Rate ◽  
Growth Performance ◽  
Direct Investment ◽  
Service Sector ◽  
World Market ◽  
Limiting Factor ◽  
Arunachal Pradesh ◽  
Services Sector ◽  
State Economy ◽  
The World

This present study makes an analysis of changing contribution of sub-sector and composition and growth performance in Indian economy. In addition to that, the contribution of sub-sector of service sector in state economy. The results revealed that the growth rate of Chandigarh was high due to providing especial emphasis on dominating sub-sectors of services and its most preferred destination for technology whereas, Sikkim and Arunachal Pradesh due to geographical and environmental conditions development were higher in floriculture and agriculture, although, tourism emerged as a new profession and have different opportunities. Apart of that, in the wake of some challenges in the form of lack of infrastructure, recent crisis in the world market, foreign direct investment (FDI) restrictions and outsourcing backlash were major limiting factor.

Factors and Prospects for Overcoming the Socio-Demographic Crisis in Russia

2020 ◽  
Vol 144 ◽  
pp. 74-81
Author(s):  
Boris N. Kuzyk ◽  
◽  
Valentina G. Dobrokhleb ◽  
Tatiana Y. Yakovets ◽  
◽  
...  
Keyword(s):  
Economic Development ◽  
Present Article ◽  
Social Doctrine ◽  
Demographic Dynamics ◽  
The World ◽  
Socio Economic Development

Demographic crisis remains one of the main challenges to socio-economic development of Russia. The COVID–19 pandemic has aggravated preconditions for a possible recovery from depopulation. The present article substantiates the need to develop and approve the RF social doctrine upon completion of national projects in 2018–2024. The authors suggest their own approach to overcoming the socio-demographic crisis with regard to the long-term demographic dynamics in Russia. Various scenarios of the “post-coronavirus” future of both specific countries and the world as a whole are proposed.

POSSIBILITIES OF REALIZATION OF SERVICE SECTOR POTENTIAL IN THE GLOBAL ECONOMY

2021 ◽  
Author(s):  
Oksana Melnichuk
Keyword(s):  
International Trade ◽  
Gross Domestic Product ◽  
Global Economy ◽  
World Economy ◽  
Service Sector ◽  
Developing Economies ◽  
Domestic Product ◽  
Trade In Services ◽  
Services Sector ◽  
The World

The relevance of the study is due to the growing role of services in the world economy. Trade in services has become the dominant driver of economic growth and development in both developed and developing economies. Since the 1980s, data suggest that there is a stronger relationship between trade in services and gross domestic product (GDP) than in the case of commodity growth and GDP. It is noted that the quality of policies, regulations and institutional frameworks is a key factor in determining the effectiveness of services. As services are increasingly subject to liberalization through multilateral and regional trade agreements, it is important that countries develop harmonized approaches to internal regulation and trade liberalization in the services sector. The article identifies the features and characteristics of the service sector as a factor of multifaceted development and growth. The dynamics of international trade in services by geographical structure and types of development of countries is studied on the basis of statistical data of international organizations, taking into account the impact of the pandemic. It is noted that international trade in services is becoming an increasingly important part of global commerce. The problematic aspects of the activity of small business entities to enter foreign markets of services are considered. The issue of urgency of digital economy development for the sphere of services and contribution to world markets is outlined. Opening up the services sector has the potential to bring great benefits and deserves more attention. Further prospects for the realization of entrepreneurial potential in a comprehensive global economy are outlined. It is noted that services are an important part of the world economy, generating more than two-thirds of world gross domestic product (GDP), attracting more than three-quarters of foreign direct investment in developed economies, and creating most of new jobs worldwide. Establishing effective coordination mechanisms between trade negotiators, policymakers and regulators will be an important tool for the development of the global economy.

scholarly journals Optimization of Trade Structure Between Russia and China Under the Initiative «One Belt and One Way»

2019 ◽  
Vol 3 (3) ◽  
pp. 17-24
Author(s):  
Bo Lyu
Keyword(s):  
Development Strategy ◽  
Structural Changes ◽  
Political Climate ◽  
National Interests ◽  
Trade Relations ◽  
Bilateral Relations ◽  
Strategic Trade ◽  
The World ◽  
Chinese Trade ◽  
The One

Russia is a very important partner in the Chinese development strategy «One Belt and One Way». Deepening of Russian-Chinese trade and economic cooperation meets the national interests and aspirations of Russia and China, playing a catalytic role in the development of bilateral relations and stabilizing the political and economic situation on the Eurasian continent and in the world. The development of Russian-Chinese trade relations have undergone many cooperative processes, and trade itself overtime has revealed its own pecularities, related to the time and political climate. Russia and China are the two largest economic powers in the world, and they have significant prospects and potential for cooperation. After China put forward the «One Belt and One Way» strategic development plan, the prospect of cooperation between the two countries has attracted an increasing attention. The article analyzes the history and current state of bileteral strategic trade relations. Some research opinions are put forward considering structural changes in the development process.

scholarly journals Influence of political turbulence on economic development of Ukraine

2019 ◽  
pp. 22-36
Author(s):  
Taras Marshalok
Keyword(s):  
Economic Development ◽  
Development Strategy ◽  
Economic Situation ◽  
Political Factors ◽  
Political Transformations ◽  
Political Cycles ◽  
Economic Sphere ◽  
Macroeconomic Indicators ◽  
Economic Imbalances

Introduction. The influence of political factors on economic processes in Ukraine is extremely important. Changes in political elites, their use of certain social and economic instruments, types and models, affect the state of social and economic development of the country in the short, medium and long term. That is why research and analysis of the economic situation in political cycles is an important issue that needs to be studied. Methods. The theoretical and methodological basis of the research are the fundamental positions of modern economic theory, scientific works of scientists on the problems of economic cycles. The general development of the Ukrainian economy under the influence of political factors is analyzed in the course of the research on the basis of the historical approach, as well as the method of analysis and synthesis used to determine the influence of political cycles on the development of the country's economy, abstraction and synthesis, comparison and analogy when comparing the results obtained by researchers and establishing the possibility of their use for carrying out tasks for the prevention of economic imbalances. Results. The article deals with the influence of political cycles on the economic situation, the dynamics of macroeconomic indicators and economic development in Ukraine. The main problems of economic policy are outlined and recommendations on elimination of economic imbalances and increase of welfare of citizens, increase of efficiency of fiscal measures in Ukraine are developed. It has been determined that in order to overcome the above-mentioned problems in the economic sphere in the process of elaboration of the economic development strategy for the long-term perspective, it is necessary to involve experts from among the scholars, business circles, expert analytical organizations in forming the directions of implementation of fiscal policy in the long-term perspective, as well as to ensure transparent and open relations. between state authorities and other actors in the social and economic sphere. Discussion. The study of political transformations and the analysis of their impact on economic fluctuations will enable future researchers to use better the results of their work to prevent economic imbalances in Ukraine. Keywords: prime minister, politics, economy, gross domestic product, taxes, expenditures, deficit, public debt, inflation, personal incomes, currency rate.

Cultural Tourism and Economic Development

2019 ◽  
pp. 13-44
Keyword(s):  
Economic Development ◽  
Development Strategy ◽  
Focal Point ◽  
Cultural Tourism ◽  
Travel And Tourism ◽  
Long Run ◽  
Tourism Attractions ◽  
Key Aspects

There are many links between cultural tourism and economic development. Governments from entire nations down to cities and counties have made tourism a focal point in their economic development efforts. This chapter discusses 18 types of cultural tourism attractions ranging from architecture to gastronomy to sex. Each of the types of cultural tourism are assessed in terms of the level of interaction between a tourist and an attraction. Travel and tourism's contribution to gross domestic product (GDP) has outpaced overall GDP in 62% of the 185 countries studied by the World Travel and Tourism Council in 2017. Tourism's contribution to GDP exceeds 10% for several countries with Iceland topping the list at 20.1%. Sustainability is a key to the success of any long-term development strategy, and this is certainly the case with cultural tourism. The tradeoff communities face is maximizing short term returns versus managing development (tourism) to maintain the quality of the resource for the long run. Over-tourism results when an attraction or a community experiences numbers of tourists beyond the carrying capacity of the attraction. While the marketplace is better suited for managing much of tourism and its impacts, government is uniquely suited to manage some key aspects of tourism. Government is better able than business to manage for the long term. Additionally, governments can weigh costs and benefits to different groups (e.g., residents versus tourists). Two case studies are presented to highlight these issues.

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