Structural Change and Slowdown of International Trade
Jing Zhang and
Logan Lewis ()
Additional contact information
Jing Zhang: Federal Reserve Bank of Chicago
No 1542, 2017 Meeting Papers from Society for Economic Dynamics
As countries get richer, they consume a larger share of their income in the services or less-traded sector. This structural change pattern is one of the most salient features of economic development. Consequently, as the world economy becomes more services oriented, it will become "less open" in terms of total trade over GDP. Thus structural change impacts long-run global trade. This paper quantitatively studies the impact of structural change on global trade, and we find that the world trade over GDP ratio would have been about 17 percentage points higher if structural change had not happened. We find little evidence that this drag on trade growth has become more pronounced in recent years.
New Economics Papers: this item is included in nep-int
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Working Paper: Structural Change and Global Trade (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:red:sed017:1542
Access Statistics for this paper
More papers in 2017 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Christian Zimmermann ().