International Trade in Services: Stylized Facts about Exporters in the Service Sector

FEDS Notes ◽  
2019 ◽  
Vol 2019 (2411) ◽  
Author(s):  
◽  
Maria D. Tito ◽  
Keyword(s):  
International Trade ◽  
Service Sector ◽  
Trade In Services ◽  
Stylized Facts

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.

Trade in Services: Removing Barriers

1983 ◽  
Vol 16 (01) ◽  
pp. 17-24
Author(s):  
Joan Edelman Spero
Keyword(s):  
International Trade ◽  
Data Processing ◽  
International Organizations ◽  
Service Sector ◽  
Trade In Services ◽  
National Examination ◽  
First Time

The meeting of the ministers of the General Agreement on Tariffs and Trade (GATT) in Geneva last November produced a little-noted but significant accomplishment. In the final hours of difficult, and at times acrimonious, debate, the ministers agreed to initiate a study on international trade in services–industries such as banking, insurance, communications, data processing, engineering and shipping. In the text of the final communique, GATT's contracting parties agreed to:• Recommend that each contracting party undertake a national examination of service sector issues;• Invite contracting parties to exchange this information among themselves and through international organizations, such as the GATT, on as uniform a basis as possible; and• Review the information at their 1984 session to determine whether a multilateral framework on services is desirable, and, if so, how to proceed.Although a modest step, the accord marks an economic milestone, for it is the first time that GATT's contracting parties have agreed to examine trade in services with the possibility of expanding international trade rules to cover services as well as goods.

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.

FDI and Trade in Services Towards Sustainable Economic Growth

2020 ◽  
pp. 369-381
Author(s):  
Madhabendra Sinha ◽  
Partha Pratim Sengupta
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Global Economy ◽  
Service Sector ◽  
Substantial Improvement ◽  
Least Square ◽  
Seasonal Effects ◽  
Current Phase ◽  
Trade In Services ◽  
Sustainable Economic Growth

The paper empirically investigates the inter-linkage between FDI inflow and international trade in service sector in India. Service sector emerges as the fastest growing sector worldwide during current phase of globalization, contributing more than 60 percent of output and almost 35 percent of trade in global economy. The sector also accounted for 63 percent of global stock of FDI. With hosting a large amount of FDI inflow, Indian service sector is also identified globally due to its substantial improvement in growth and export in international market. So there needs a study to explore the theoretically established causal relationship between FDI inflow and international trade in services towards sustainable and service led economic growth in India. The authors collect monthly data from DIPP, Government of India and RBI over a globally witnessed emerging period from January 2009 to June 2016 and apply ADF and PP unit root tests followed by least square estimation after testing the seasonal effects. Their findings imply unidirectional causality between FDI inflow and export Indian services.

scholarly journals FEATURES OF PARTICIPATION OF RUSSIAN BUSINESS ENTITIES IN THE INTERNATIONAL TRADE OF SERVICES

Globus ◽  
2021 ◽  
Vol 7 (1(58)) ◽  
pp. 29-31
Author(s):  
O.K. Lugovskaya ◽  
R.S. Streletsky
Keyword(s):  
International Trade ◽  
Service Sector ◽  
World Market ◽  
Trade In Services ◽  
The World ◽  
Trade Of Services ◽  
Business Entities

The article reveals the features of the presence of Russian business entities in the world market of services. The reasons for the complexity of statistical accounting of the service sector in international trade are grounded. It also considers promising areas of Russia’s participation in international trade in services and ways to increase the competitive stability of national companies.

scholarly journals SERVICES' MODES OF SUPPLY: THEORETICAL ASPECTS AND IMPLEMENTATION SPECIFICS IN THE INCONSISTENT PRESENT

2021 ◽  
Vol 71 (2) ◽  
Author(s):  
Vasyl Pavliuk ◽  
Volodymyr Mulenko
Keyword(s):  
International Trade ◽  
Service Sector ◽  
Modern World ◽  
Trade In Services ◽  
Services Trade ◽  
Cross Border ◽  
Study Results ◽  
Commercial Presence ◽  
The Cross ◽  
The Impact

The significant role of services in modern world trade, international migration of labor and capital, science and technology, information space, creates the need to research services' modes of supply and the impact of the pandemic on the specifics of these modes’ usage. The article is focused on the refinement and improvement of existing services' modes of supply and theoretical aspects of the international trade in services operations; identification of future trends in the service sector and the use of existing supply models. Four trade in services modes of supply depending on the need to move the supplier or consumer are distinguished: cross-border supply, consumption abroad, commercial presence and presence of natural persons. It was found that the existence of trade in services modes of supply is due to the specifics of international trade in services, such as the need for direct contact between supplier and consumer, greater protection by the state compared to trade in goods, impossibility of some services types selling in international markets, regulation by domestic legislation of individual countries etc. Identification of a fifth trade in services mode of supply in which the consumer and supplier move to a third country to trade in services is proposed. It is established that creating of a commercial presence is the most used model. The future growth of services’ trade in the cross-border regime is substantiated as a consequence of the necessity to operate service enterprises during the pandemic and in the post-quarantine period. The increase of tourism services sales in the cross-border mode of supply due to the active introduction of virtual reality technologies and the development of virtual tourism is forecasted. The transition of construction services to cross-border supply due to active development of modular construction and use of the latest technologies such as 3D printers and artificial intelligence is predicted. However, it is emphasized that it is impossible to completely exclude the physical movement of the supplier or consumer in the provision of certain types of services, even with the advancement of technology. The presented study results can be used as a basis for further research into models of trade in services and development of effective services trade policies during quarantine and post-quarantine period.

scholarly journals Export specialization in services of the Visegrad countries

Equilibrium ◽  
2016 ◽  
Vol 11 (2) ◽  
pp. 265 ◽  
Author(s):  
Joanna Stefaniak-Kopoboru ◽  
Joanna Kuczewska
Keyword(s):  
International Trade ◽  
Service Sector ◽  
Central And Eastern Europe ◽  
Rapid Development ◽  
The European Union ◽  
Trade In Services ◽  
Economic Activities ◽  
Export Specialization ◽  
Visegrád Countries ◽  
The Eu

The importance of services and the international trade in services is growing systematically. There are some reasons for that, especially the rapid development of IT technologies. This increase in the international trade in services is a global phenomenon, however there are some other specific issues, other than economic or technological, which might influence the trade in services in particular countries. As for the countries of the Central and Eastern Europe such a factor could be the accession to the European Union (EU). The objective of the paper is to analyse the export specialization of the Visegrad countries in the international trade in services and how it changed over seven years after the EU accession. The service sector comprises of a variety of highly heterogeneous economic activities and the diversity of services is also reflected in the international trade of particular countries. Generally, the trade theories deal with trade of goods, but there are some attempts already to apply these theories for services. To find out the export specialization based on the comparative advantage in particular services, the main categories of services are analysed based on the adjusted RCA index assumptions. The analysis prepared in the paper is based on the balance of payment statistics provided by the WTO. The article is concluded by discussing the questions about the export specialization of particular countries and how it changed after the accession to the EU. 

FDI and Trade in Services Towards Sustainable Economic Growth

2017 ◽  
Vol 6 (1) ◽  
pp. 22-33
Author(s):  
Madhabendra Sinha ◽  
Partha Pratim Sengupta
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Global Economy ◽  
Service Sector ◽  
Substantial Improvement ◽  
Least Square ◽  
Seasonal Effects ◽  
Current Phase ◽  
Trade In Services ◽  
Sustainable Economic Growth

The paper empirically investigates the inter-linkage between FDI inflow and international trade in service sector in India. Service sector emerges as the fastest growing sector worldwide during current phase of globalization, contributing more than 60 percent of output and almost 35 percent of trade in global economy. The sector also accounted for 63 percent of global stock of FDI. With hosting a large amount of FDI inflow, Indian service sector is also identified globally due to its substantial improvement in growth and export in international market. So there needs a study to explore the theoretically established causal relationship between FDI inflow and international trade in services towards sustainable and service led economic growth in India. The authors collect monthly data from DIPP, Government of India and RBI over a globally witnessed emerging period from January 2009 to June 2016 and apply ADF and PP unit root tests followed by least square estimation after testing the seasonal effects. Their findings imply unidirectional causality between FDI inflow and export Indian services.

scholarly journals Trends of International Trade in Services: Integration Opportunities for Ukraine

2017 ◽  
Vol 4 (3-4) ◽  
pp. 74-81
Author(s):  
Tetyana Bodnarchuk ◽  
Volodymyr Lysak
Keyword(s):  
International Trade ◽  
Industrial Development ◽  
Service Sector ◽  
Trade In Services ◽  
Service Market ◽  
Endogenous Factors ◽  
International Service ◽  
Trade Relations ◽  
The World ◽  
Post Industrial

In the article the main trends and patterns of the development of international trade in services in the period of post-industrial development of the world economy are considered. Ukraine’s competitive positions on international service market are outlined. The main endogenous factors of enhancing the country’s integration to the world trade relations system in service sector are determined

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