Services Liberalisation, Export Similarity and Trade in Services
No 2018-04, School of Economics Working Papers from University of Adelaide, School of Economics
Studies show that service activities are essential for promoting manufacturing productivity and economic development. This raises an important question of how to promote services trade and whether policy liberalisation contributes to its development. The study examines the impact of policies on trade in services across countries using export data from UN Comtrade, where restrictions on trade as a result of policy are measured by the Services Trade Restrictiveness Index (STRI). The estimations are in the form of a log-linear gravity model analyzing the effect of STRI on bilateral services trade and one-sided service exports. Our results show that a one per cent increase in the overall STRI brings about a 0.25%–0.29% decrease in bilateral services trade and a 0.04% decrease in service exports. In addition, goods trade networks and export similarity show significant and positive impacts on services trade.
Keywords: trade in service; Services Trade Restriction Index; export similarity (search for similar items in EconPapers)
JEL-codes: F13 F14 F15 (search for similar items in EconPapers)
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