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The Crisis-Resilience Of Services Trade

2009; Linguagem: Inglês

10.1596/1813-9450-4917

1813-9450

Ingo Borchert, Aaditya Mattoo,

Supply Chain Resilience and Risk Management

No AccessPolicy Research Working Papers25 Jun 2013The Crisis-Resilience Of Services TradeAuthors/Editors: Ingo Borchert, Aaditya MattooIngo Borchert, Aaditya Mattoohttps://doi.org/10.1596/1813-9450-4917SectionsAboutPDF (0.2 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In Abstract:Much attention has 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 United States, and more aggregate data from other OECD countries, the authors show that services trade is weathering the current crisis much better than goods trade. As of February 2009, the value of US goods imports had declined year-on-year by 33 percent and the value of goods exports by 21 percent; services imports and exports each had declined by less than 7 percent. Within services, interesting patterns are emerging. Trade in goods-related transport services and crisis-related financial services has shrunk, as has expenditure on tourism abroad. But trade in a range of business, professional, and technical services is still increasing, with US exports growing even faster (at 10 percent) than US imports (at 7 percent). Developing countries like India, which are relatively specialized in business process outsourcing and information technology services, have suffered much smaller declines in total exports to the United States than countries like Brazil and China and regions like Africa, which are specialized in exports of goods, transport services, or tourism services. On the basis of new evidence from Indian services exporters, the authors suggest that services trade is buoyant relative to goods trade for two reasons: demand for a range of traded services is less cyclical, and services trade and production are less dependent on external finance. Even though few explicitly protectionist measures have so far been taken in services, the changing political climate and the widening boundaries of the state in crisis countries may introduce a national bias in firms' procurement and location choices. Previous bookNext book FiguresReferencesRecommendedDetailsCited ByIndirect and direct effects of the subprime crisis on the real sector: labor market migrationEmpirical Economics, Vol.8020 April 2021(Structural Factors of Global Trade Slowdown and Their Implications)SSRN Electronic JournalInformation and Communication Technology-Enabled Modern Services Export Performances of Asian EconomiesAsian Development Review, Vol.33, No.1The Great Trade CollapseAnnual Review of Economics, Vol.5, No.1Staatlich durchdrungener Kapitalismus in Indiens metropolitanen Zentren. Die Transformation eines Entwicklungsmodells und seine Schattenseitendms – der moderne staat – Zeitschrift für Public Policy, Recht und Management, Vol.6, No.1-201319 June 2013The Real Exchange Rate and Export Growth: Are Services Different?SSRN Electronic JournalService industries at a crossroads: some fragile assumptions and future challengesThe Service Industries Journal, Vol.32, No.4Services as a New Engine of Growth for ASEAN, the People's Republic of China, and IndiaSSRN Electronic JournalRegional Liberalisation of Trade in ServicesThe World Economy, Vol.34, No.526 May 2011Trade in Services and Human Development: A First Look at the LinksSSRN Electronic JournalCrisis, Imbalances, and IndiaSSRN Electronic JournalThe Global Economic Recession and Industrial Structure: Evidence from Four Asian DragonsSSRN Electronic JournalServices Liberalization and Computable General Equilibrium Modeling: Beyond Tariff EquivalentsSSRN Electronic JournalInternational Supply Chains and Trade Elasticity In Times of Global CrisisSSRN Electronic JournalIndia's Tryst with the Global Financial CrisisReview of Market Integration, Vol.1, No.21 May 2009 View Published: May 2009 Copyright & Permissions Related TopicsInformation and Communication TechnologiesMacroeconomics and Economic GrowthTransportUrban DevelopmentInternational Economics & TradePublic Sector DevelopmentPrivate Sector DevelopmentFinance and Financial Sector Development KeywordsAUTOMOBILESAUTOMOTIVE INDUSTRYCARDEVELOPING COUNTRIESEXPORTSFINANCIAL SELF-SUFFICIENCYFREIGHTFREIGHT SERVICESIMPORTSINTERNATIONAL TRANSPORTOUTSOURCINGPROTECTIONISTPROTECTIONIST MEASURESTOURISMTRADE DATATRADE IN GOODSTRANSPORTTRANSPORT SERVICESTRANSPORTATIONTRANSPORTATION SERVICES PDF DownloadLoading ...