Service Export Sophistication and Economic Growth
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Can increasing sophistication in service
exports lead to economic growth? Although services were
historically produced primarily for domestic consumption,
they are gradually becoming more productive, tradable and
unbundled. The authors construct an index of "service
exports sophistication" to document this phenomenon.
Panel data estimations indicate a positive association
between growth in per capita income and higher
sophistication of service exports. The results also suggest
that this phenomenon is growing in importance over time.
Considering the limits of traditional industrialization in
igniting global growth, the results provide an alternative channel.
Palabras clave
ACCOUNTING, AFFILIATES, AGRICULTURE, ASSET MANAGEMENT, ASSETS, AUDITING, CLASSICAL ECONOMISTS, COMMODITIES, COMMODITY, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, COMPETITIVENESS, DEMOCRATIC SOCIETY, DESCRIPTION, DEVELOPMENT POLICY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC RESEARCH, ECONOMIES OF SCALE, ELASTICITY, EMPLOYMENT, EXPORT LED GROWTH, EXPORTS, FINANCIAL LEASING, FINANCIAL SERVICES, FOREIGN EXCHANGE, FREEDOM OF THE PRESS, FUTURE RESEARCH, GDP, GDP PER CAPITA, HUMAN CAPITAL, INCOME LEVELS, INDUSTRIAL ECONOMY, INDUSTRIALIZATION, INSURANCE, INTERNATIONAL TRADE, LABOR MARKET, LABOR MOBILITY, LEASING, LIBRARIES, LIVING STANDARDS, M2, MACROECONOMICS, MEDIA, MIDDLE INCOME COUNTRIES, MULTINATIONAL, PARTICIPATORY DEMOCRACY, PATENTS, PER CAPITA INCOME, PRODUCTIVITY, PROPERTY RIGHTS, PUBLIC POLICY, RENTALS, RULE OF LAW, STRUCTURAL CHANGE, TOTAL FACTOR PRODUCTIVITY, TOTAL FACTOR PRODUCTIVITY GROWTH, TOTAL OUTPUT, TRADE BARRIERS, TRADE LIBERALIZATION, TRANSPORT, VALUE ADDED, WORLD TRADE ORGANIZATION, WTO