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The Third World and Comparative Advantage in Trade Services

In: Theory and Reality in Development

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  • Sanjaya Lall

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.

Suggested Citation

  • Sanjaya Lall, 1986. "The Third World and Comparative Advantage in Trade Services," Palgrave Macmillan Books, in: Sanjaya Lall & Frances Stewart (ed.), Theory and Reality in Development, chapter 8, pages 122-138, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-18128-5_8
    DOI: 10.1007/978-1-349-18128-5_8
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    Cited by:

    1. Johan Fourie & Dieter von Fintel, 2009. "World Rankings of Comparative Advantage in Service Exports," Working Papers 03/2009, Stellenbosch University, Department of Economics.

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