Does Gravity Apply to Intangibles? Trade and FDI in Services

Joseph Francois, Bernard Hoekman and Julia Woerz

No 331584, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: We work with a panel dataset on trade and FDI across a number of detailed service sectors for 178 countries, based on combined data from the OECD, IMF, EUROSTAT, and the BEA. To estimate degrees of service sector openness, we develop a two-stage estimator suitable for available balance-of-payments based services trade data, which lacks bilateral detail. The result is a set of comparable, detailed trade and FDI restriction indexes that spans time, sector, and country dimensions. For a smaller set of countries – the OECD -- we then examine the relationship of these indexes to regulatory indicators. Our estimates of service sector openness and related trade cost equivalents are invariant to domestic regulatory structure in the OECD.

Keywords: International Relations/Trade; Agricultural and Food Policy (search for similar items in EconPapers)
Pages: 20
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:331584

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