 The Third World and Comparative Advantage in Trade ServicesChapter 8 in Theory and Reality in Development, 1986, pp 122-138 from Palgrave Macmillan Abstract: Abstract The role of services in the process of economic growth and structural change has received a great deal of attention in economic literature. By contrast, that of trade in services has been a relatively neglected area of theoretical and empirical research. This is puzzling, since what is conventionally defined as ‘service’ receipts and payments constitutes a significant part of international transactions on the current account.2 There is perhaps an implicit assumption that theories developed to explain the pattern of trade in physical products can be used without significant amendment to explain that in services. A moment’s consideration will show that this assumption may be unfounded. The production of physical commodities is determined by factors and technologies quite different from those which affect the production and sale of services. In view of renewed international interest (in GATT and UNCTAD) in negotiating changes in the structure of regulation governing services trade, it seems apt to consider this question at some length. Keywords: Human Capital; Comparative Advantage; Physical Capital; Capital Good; Technological Service (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-18128-5_8 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-18128-5_8 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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