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Measuring services trade liberalization and its impact on economic growth : an illustration

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  • Mattoo, Aaditya
  • Rathindran, Randeep
  • Subramanian, Arvind

Abstract

The authors explain how the output growth effect from liberalizing the service sectors differs from the effect from liberalizing trade in goods. They also suggest using a policy-based rather than outcome-based measure of the openness of a country's service regime. They construct such openness measures for two key service sectors'basic telecommunications and financial services. Finally, the authors provide some econometric evidence--relatively strong for the financial sector and less strong, but nevertheless statistically significant, for the telecommunications sector--that openness in services influences long-run growth performance. Their estimates suggest that growth rates in countries with fully open telecommunications and financial services sectors are up to 1.5 percentage points higher than those in other countries.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 2655.

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Date of creation: 31 Aug 2001
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Handle: RePEc:wbk:wbrwps:2655

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Keywords: Environmental Economics&Policies; Payment Systems&Infrastructure; Trade Finance and Investment; Economic Theory&Research; ICT Policy and Strategies; Banks&Banking Reform; Economic Theory&Research; Environmental Economics&Policies; Governance Indicators; ICT Policy and Strategies;

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  1. Joseph F. Francois & Lutger Schuknecht, 1999. "Trade in Financial Services: Procompetitive Effects and Growth Performance," Tinbergen Institute Discussion Papers 99-028/2, Tinbergen Institute.
  2. Demirguc, Asli & Huizinga, Harry, 1999. "Determinants of Commercial Bank Interest Margins and Profitability: Some International Evidence," World Bank Economic Review, World Bank Group, World Bank Group, vol. 13(2), pages 379-408, May.
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  4. Paul Collier & Jan Willem Gunning, 1999. "Why Has Africa Grown Slowly?," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 13(3), pages 3-22, Summer.
  5. Robert J. Barro, 1996. "Determinants of Economic Growth: A Cross-Country Empirical Study," NBER Working Papers 5698, National Bureau of Economic Research, Inc.
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  7. Djankov, Simeon & Hoekman, Bernard, 1996. "Effective Protection and Investment Incentives in Egypt and Jordan During the Transition to Free Trade with Europe," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1415, C.E.P.R. Discussion Papers.
  8. Eduardo Borensztein & Jose De Gregorio & Jong-Wha Lee, 1995. "How Does Foreign Direct Investment Affect Economic Growth?," NBER Working Papers 5057, National Bureau of Economic Research, Inc.
  9. Beck, T.H.L. & Demirgüç-Kunt, A. & Levine, R., 2000. "A new database on financial development and structure," Open Access publications from Tilburg University urn:nbn:nl:ui:12-3125518, Tilburg University.
  10. Coe, David T & Helpman, Elhanan & Hoffmaister, Alexander W, 1997. "North-South R&D Spillovers," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 107(440), pages 134-49, January.
  11. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, American Economic Association, vol. 89(3), pages 379-399, June.
  12. Philipp Harms & Aaditya Mattoo & Ludger Schuknecht, 2003. "Explaining liberalization commitments in financial services trade," Review of World Economics (Weltwirtschaftliches Archiv), Springer, Springer, vol. 139(1), pages 82-113, March.
  13. Barth, James R. & Caprio, Gerard & Levine, Ross, 2000. "Banking systems around the globe : do regulation and ownership affect the performance and stability?," Policy Research Working Paper Series 2325, The World Bank.
  14. Fink, Carsten & Mattoo, Aaditya & Rathindran, Randeep, 2002. "Liberalizing basic telecommunications : the Asian experience," HWWA Discussion Papers 163, Hamburg Institute of International Economics (HWWA).
  15. Dailami, Monsoor, 2000. "Financial openness, democracy, and redistributive policy," Policy Research Working Paper Series 2372, The World Bank.
  16. repec:umd:umdeco:rodriguez9901 is not listed on IDEAS
  17. Edwards, Sebastian, 1993. "Openness, Trade Liberalization, and Growth in Developing Countries," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1358-93, September.
  18. Claessens, Stijn & Klingebiel, Daniela, 1999. "Alternative frameworks for providing financial services," Policy Research Working Paper Series 2189, The World Bank.
  19. Robert J. Barro & Jong-Wha Lee, 1993. "Losers and Winners in Economic Growth," NBER Working Papers 4341, National Bureau of Economic Research, Inc.
  20. Francisco Rodriguez & Dani Rodrik, 1999. "Trade Policy and Economic Growth: A Skeptic's Guide to Cross-National Evidence," NBER Working Papers 7081, National Bureau of Economic Research, Inc.
  21. Aadtya Mattoo, 2000. "Financial Services and the WTO: Liberalisation Commitments of the Developing and Transition Economies," The World Economy, Wiley Blackwell, vol. 23(3), pages 351-386, 03.
  22. Barth, James R. & Caprio Jr, Gerard & Levine, Ross, 2001. "The regulation and supervision of banks around the world - a new database," Policy Research Working Paper Series 2588, The World Bank.
  23. Ben-David, Dan, 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 108(3), pages 653-79, August.
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