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Services: A New Source of Value

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  • Pajarinen, Mika
  • Rouvinen, Petri
  • Ylä-Anttila, Pekka

Abstract

The division of the economy into three sectors – primary production, industry (mainly manufacturing), and services – has become obsolete, i.e., the dividing lines between them have become blurred and partly disappeared completely. Manufacturing and services complement each other. Many successful multinational companies are deeply engaged in combining goods and services in their operations and market offerings. Digitalization is changing the traditional understanding of services: many services can be stored and transferred as goods. Consequently digital services are growing faster than any other segment of world trade.

Suggested Citation

  • Pajarinen, Mika & Rouvinen, Petri & Ylä-Anttila, Pekka, 2013. "Services: A New Source of Value," ETLA Brief 11, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:briefs:11
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    File URL: http://www.etla.fi/wp-content/uploads/ETLA-Muistio-Brief-11.pdf
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    References listed on IDEAS

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    1. Maliranta, Mika, 2013. "Globalization, occupational restructuring and firm performance," ETLA Working Papers 5, The Research Institute of the Finnish Economy.
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    Cited by:

    1. Ali-Yrkkö, Jyrki & Rouvinen, Petri, 2013. "Implications of Value Creation and Capture in Global Value Chains – Lessons from 39 Grassroots Cases," ETLA Reports 16, The Research Institute of the Finnish Economy.
    2. Nikulainen, Tuomo & Pajarinen, Mika, 2013. "Industry restructuring in the ICT sector – What does labor mobility tell us about skill relatedness and knowledge spillovers?," ETLA Working Papers 17, The Research Institute of the Finnish Economy.
    3. Viitamo, Esa, 2013. "Servitization as a Productive Strategy of a Firm – Evidence from the Forest-Based Industries," ETLA Reports 14, The Research Institute of the Finnish Economy.

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