Services trade liberalisation and global imbalances: a critical review of the empirical evidence

Georgios Georgiadis and Andrej Mijakovic

Economic Bulletin Boxes, 2019, vol. 5

Abstract: This box assesses recent empirical analysis claiming that services trade liberalisation could be a remedy for global imbalances. The main finding of the box is that global imbalances – i.e. the magnitude of current account surpluses and deficits across countries – would remain essentially unchanged as a result of services trade liberalisation. Nonetheless (services) trade liberalisation should be expected to raise welfare overall, e.g. by fostering productivity growth. JEL Classification: F13, F14, F32, F41

Keywords: Global imbalances; Services trade (search for similar items in EconPapers)
Date: 2019-08
Note: 2435756
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2019:0005:2

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