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'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.

Bibliographic Details

Main Authors:	Mattoo, Aaditya, Rathindran, Randeep, Subramanian, Arvind
Format:	Policy Research Working Paper biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2001-08
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
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