World Trade in Services: Evidence from A New Dataset

Prakash Loungani, Saurabh Mishra, Chris Papageorgiou () and Ke Wang

No 2017/077, IMF Working Papers from International Monetary Fund

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: WP; export; service export; fce4d6; developing country; value; Trade in services; sector-level data; technology; globalization; economic growth; export growth; export service; goods export; export data; export value; global economy; Service exports; Exports; Export performance; Services sector; Global (search for similar items in EconPapers)
Pages: 44
Date: 2017-03-29
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Citations: View citations in EconPapers (46)

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