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Regional Liberalisation of Trade in Services.
- Source :
- World Economy; May2011, Vol. 34 Issue 5, p725-740, 16p, 6 Charts
- Publication Year :
- 2011
-
Abstract
- This paper investigates quantitatively the trade-enhancing effect of regional trade agreements (RTAs) under the General Agreement on Trade in Services Article V (services RTAs) by applying a gravity regression analysis to four major services sectors - financial, business, communication and transportation services - while controlling for both country-specific and time-varying importer and exporter fixed effects. The regression analysis covers bilateral imports in services consisting of 20,986 country-pairs in total over six years (2000-05). Our results indicate that sector-specific trade-creating effects of services RTAs are significantly positive without incurring trade-diverting effects, excluding transportation services. Moreover, we find that there is a significant cumulative effect of services RTAs, excluding communication services and a complementary relationship between goods and services imports. In addition, the trade-creating effect of services RTAs is stronger between developed members compared with between developed and developing countries. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 03785920
- Volume :
- 34
- Issue :
- 5
- Database :
- Complementary Index
- Journal :
- World Economy
- Publication Type :
- Academic Journal
- Accession number :
- 60826561
- Full Text :
- https://doi.org/10.1111/j.1467-9701.2011.01350.x