At a time when protectionism threatens global trade, exports of services are growing. The worldwide trade in services is increasing faster than the trade in merchandise, thanks largely to information technologies. Economists Prakash Loungani, Saurabh Mishra, Chris Papageorgiou and Ke Wang offer an authoritative look at the implications this has for the world’s economies. Their succinct analysis reveals some important insights, and getAbstract suggests it to executives and policy makers interested in how the growing services trade might lead to a new round of globalization.
In this summary, you will learn
- What types of service exports are growing,
- Which regions are catching up to Europe and North America in exporting various services, and
- How exports of services improve a country’s economic development.
About the Authors
Prakash Loungani, Chris Papageorgiou and Ke Wang are with the IMF. Saurabh Mishra is a senior financial consultant at the International Finance Corporation.