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The Services Content of Japanese Trade

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  • Kozo Kiyota

Abstract

This paper investigates the share of direct and indirect services trade in Japanese trade between 1985 and 1995, using data from Japanese input-output tables. The empirical analysis reveals that the share of R&D services in total services trade has been much higher throughout the period than the share of other services. The contribution of school education services gradually increased from 1985 to 1995, while that of financial services declined. These results indicate that Japan increasingly exported technology-intensive products during the period, moving away from goods intensive in financial services to those intensive in educational services. After the bubble economy burst, exports of financial services declined and Japanese banking and insurance companies rapidly withdrew from overseas markets. Financial firms in Japan lack international competitiveness. Although structural reforms have been under way in some services sectors, the analysis in this paper suggests that greater reform is needed, especially in the financial sector.

Suggested Citation

  • Kozo Kiyota, 2001. "The Services Content of Japanese Trade," Asia Pacific Economic Papers 320, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
  • Handle: RePEc:csg:ajrcau:320
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    File URL: https://crawford.anu.edu.au/pdf/pep/pep-320.pdf
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    References listed on IDEAS

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    1. Coe, David T & Helpman, Elhanan & Hoffmaister, Alexander W, 1997. "North-South R&D Spillovers," Economic Journal, Royal Economic Society, vol. 107(440), pages 134-149, January.
    2. Bayoumi, Tamim & Coe, David T. & Helpman, Elhanan, 1999. "R&D spillovers and global growth," Journal of International Economics, Elsevier, vol. 47(2), pages 399-428, April.
    3. Urata, Shujiro, 1983. "Factor Inputs and Japanese Manufacturing Trade Structure," The Review of Economics and Statistics, MIT Press, vol. 65(4), pages 678-684, November.
    4. Coe, David T. & Helpman, Elhanan, 1995. "International R&D spillovers," European Economic Review, Elsevier, vol. 39(5), pages 859-887, May.
    5. Melvin, James R, 1989. "Trade in Producer Services: A Heckscher-Ohlin Approach," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1180-1196, October.
    6. Shujiro Urata & Kozo Kiyota, 2003. "Services Trade in East Asia," NBER Chapters,in: Trade in Services in the Asia Pacific Region, NBER East Asia Seminar on Economics (EASE), Volume 11, pages 379-428 National Bureau of Economic Research, Inc.
    7. Bowen, Harry P & Leamer, Edward E & Sveikauskas, Leo, 1987. "Multicountry, Multifactor Tests of the Factor Abundance Theory," American Economic Review, American Economic Association, vol. 77(5), pages 791-809, December.
    8. Markusen, James R, 1989. "Trade in Producer Services and in Other Specialized Intermediate Inputs," American Economic Review, American Economic Association, vol. 79(1), pages 85-95, March.
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    JEL classification:

    • F10 - International Economics - - Trade - - - General

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