The Crisis Resilience of Services Trade
AbstractMuch attention has been focused on the impact of the current crisis on goods trade; hardly any on its impact on services trade. Using new trade data from the USA, and more aggregate data from other OECD countries, the authors show that services trade is weathering the current crisis much better than goods trade. On the basis of new evidence from Indian services exporters, it is suggested that services trade is more robust relative to goods trade for three reasons: less cyclical demand; lesser dependence on external finance; and few explicitly protectionist measures so far taken in services.
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Bibliographic InfoPaper provided by The World Bank in its series World Bank Other Operational Studies with number 11123.
Date of creation: Apr 2009
Date of revision:
Macroeconomics and Economic Growth - Commodities International Economics and Trade - Trade Policy Housing and Human Habitats Economic Theory and Research Public Sector Corruption and Anticorruption Measures Communities and Human Settlements Public Sector Development;
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