Services: A New Source of Value

Mika Pajarinen, Petri Rouvinen and Pekka Ylä-Anttila

No 11, ETLA Brief from The Research Institute of the Finnish Economy

Abstract: Abstract The division of the economy into three sectors – primary production, industry (mainly manufacturing), and services – has become obsolete, i.e., the dividing lines between them have become blurred and partly disappeared completely. Manufacturing and services complement each other. Many successful multinational companies are deeply engaged in combining goods and services in their operations and market offerings. Digitalization is changing the traditional understanding of services: many services can be stored and transferred as goods. Consequently digital services are growing faster than any other segment of world trade.

Pages: 8 pages
Date: 2013-05-07
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Citations: View citations in EconPapers (3)

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