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Trade in Services and Economic Growth

Author

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  • Park, Soonchan

    (Kongju National University)

Abstract

Services account for a large share of output in developed countries and international trade in services has been rapidlyServices account for a large share of output in developed countries and international trade in services has been rapidly increasing since 1980. However, there are a limited number of empirical studies on the relationship between openness in services trade and economic growth. This paper applies a dynamic panel approach to examine the impacts of trade in services and openness on economic growth for industrialized countries during the period 1980-2000. The findings show that imports of services have a significant positive impact on economic growth. Furthermore, empirical results suggest that the level of openness in services (measured by imports to GDP) also affects growth, and not just changes in openness.

Suggested Citation

  • Park, Soonchan, 2007. "Trade in Services and Economic Growth," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 11(1), pages 3-24, June.
    • Handle: RePEc:ris:eaerev:0152
    DOI: 10.11644/KIEP.JEAI.2007.11.1.162
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    Cited by:

    1. Joseph Phiri & Karel Malec & Aubrey Sakala & Seth Nana Kwame Appiah-Kubi & Pavel Činčera & Mansoor Maitah & Zdeňka Gebeltová & Cathy-Austin Otekhile, 2022. "Services as a Determinant of Botswana’s Economic Sustainability," IJERPH, MDPI, vol. 19(22), pages 1-21, November.

    More about this item

    Keywords

    Trade In Services; Level Of Openness; Changes In Openness; Economic Growth;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • L80 - Industrial Organization - - Industry Studies: Services - - - General

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