World Trade in Services: Evidence from a New Dataset

45 Pages Posted: 12 May 2017

See all articles by Prakash Loungani

Prakash Loungani

International Monetary Fund (IMF)

Saurabh Mishra

International Monetary Fund (IMF)

Chris Papageorgiou

International Monetary Fund (IMF) - Research Department

Ke Wang

International Monetary Fund (IMF)

Date Written: March 2017

Abstract

Using a newly constructed dataset on trade in services for 192 countries from 1970 to 2014, this paper shows that services currently constitute one-fourth of world trade and an increasingly important component of global production. A detailed analysis of patterns and stylized facts reveals that exports of services are not only gaining strong momentum and catching up with exports of goods in many countries, but they could also trigger a new wave of trade globalization. Research applications of the trade in service dataset on structural transformation, resilience, labor reallocation, and income distribution are outlined.

Keywords: Economic growth, Globalization, Trade in services, sector-level data, technology, Country and Industry Studies of Trade, Economic Growth of Open Economies, General, Macroeconomic Analyses of Economic Development, One, Two, and Multisector Growth Models

JEL Classification: F14, F43, L80, L90, O11, O41

Suggested Citation

Loungani, Prakash and Mishra, Saurabh and Papageorgiou, Chris and Wang, Ke, World Trade in Services: Evidence from a New Dataset (March 2017). IMF Working Paper No. 17/77. Available at SSRN: https://ssrn.com/abstract=2967432

Prakash Loungani (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-7043 (Phone)
202-623-4740 (Fax)

Saurabh Mishra

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Chris Papageorgiou

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

Ke Wang

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
133
Abstract Views
542
rank
215,344
PlumX Metrics