The Impact of Trade in Services on Factor Incomes : Results from a Global Simulation Model
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World Bank, Washington, DC
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Indian gross domestic product per capita
increased rapidly between 2001 and 2006 in a climate of
increasing services trade, with the export-oriented services
sector responsible for rising shares of growth in gross
domestic product. Due to its contribution to aggregate
economic growth, there is a great need for empirical
examination of the distributional consequences of this
growth, especially in light of the challenges in obtaining
theoretical solutions that can be generalized. This paper
fills this gap in the literature by using a global
simulation model to examine how sensitive factor incomes
across different industries may have been to the historical
changes in India's services exports and imports, and
provides insight on the distribution of the national income
growth attributable to the expansion of the services
industry. Rent on capital in the service sector and wages of
all workers would have increased as a result of greater
services trade in this period, while income from capital
specific to agriculture and manufacturing would have
declined. The factors involved with the urban-based services
sector may thus benefit from the services trade growth,
while the total factor income involved in rural agriculture
may decline.
Palabras clave
ACCOUNTING, ACCOUNTING STANDARDS, AGRICULTURE, BALANCE OF PAYMENTS, BARRIERS TO TRADE, BASE YEAR, BENCHMARK, BUSINESS SERVICES, CAPITAL OWNERS, CAPITAL STOCKS, COMMODITIES, COMMODITY, COMMODITY PRICES, COMMUNICATION TECHNOLOGY, COMPARATIVE ADVANTAGE, CONSTANT RETURNS TO SCALE, CONSULTING SERVICES, CONSUMER PRICE INDEX, CONSUMERS, COST STRUCTURE, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICIES, DISTRIBUTION OF INCOME, ECONOMIC BENEFITS, ECONOMIC DEVELOPMENT, ECONOMIC EQUILIBRIUM, ECONOMIC GROWTH, ECONOMIC OUTLOOK, EGOVERNMENT, ELASTICITY, ELASTICITY OF SUBSTITUTION, EMPLOYMENT, EQUILIBRIUM, EXCHANGE RATE, EXPORT DEMAND, EXPORT GROWTH, EXPORT VOLUME, EXPORTS, FACTORS OF PRODUCTION, FINANCIAL SERVICES, FOREIGN DIRECT INVESTMENT, GDP, GDP PER CAPITA, GENERAL EQUILIBRIUM, GENERAL EQUILIBRIUM MODEL, GLOBAL ECONOMY, GLOBAL OUTPUT, GLOBAL TRADE, GLOBALIZATION, GROSS DOMESTIC PRODUCT, GROSS DOMESTIC PRODUCT PER CAPITA, GROWTH RATES, GROWTH THEORIES, HUMAN CAPITAL, IMPORT COST, IMPORTS, INCOME LEVELS, INCOMES, INEQUALITY, INFLATION RATE, INFORMATION TECHNOLOGY, INSURANCE, INTERNATIONAL CAPITAL, INTERNATIONAL CAPITAL FLOWS, INTERNATIONAL ECONOMICS, INTERNATIONAL ECONOMY, INTERNATIONAL MARKET, LABOR COSTS, LABOR FORCE, LABOR MARKET, LIBERALIZATION, MANPOWER, MANUFACTURING INDUSTRIES, MARGINAL COST, MARGINAL COST OF PRODUCTION, MARGINAL REVENUE, NATIONAL INCOME, NONTARIFF TRADE BARRIERS, OCCUPATIONS, OUTPUTS, OUTSOURCING, PRODUCT DIFFERENTIATION, PRODUCTION FUNCTIONS, PRODUCTION PROCESS, PRODUCTION STRUCTURE, PRODUCTION STRUCTURES, PRODUCTIVITY, RAPID ECONOMIC GROWTH, REAL ESTATE, REAL GDP, REPUTATION, SAVINGS, SKILLED LABOR, SKILLED WORKER, SKILLED WORKERS, SOFTWARE DEVELOPMENT, STATISTICAL ANALYSES, SUSTAINABLE DEVELOPMENT, TECHNOLOGICAL ADVANCES, TECHNOLOGICAL INNOVATIONS, TELECOMMUNICATIONS, TOTAL OUTPUT, TRADE BARRIERS, TRADE DATA, TRADE FORUM, TRADE IN SERVICES, TRADE MODELS, TRADE PROTECTION, TRADE SURPLUS, TRADES, TRANSACTIONS COSTS, UNSKILLED LABOR, UNSKILLED WORKERS, VALUE ADDED, WAGE INCREASES, WAGES, WORLD ECONOMY