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Regional Agreements and Trade in Services: Policy Issues
( Aaditya Mattoo ),( Carsten Fink ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2004 Journal of Economic Integration Vol.19 No.4
Every major regional trade agreement now has a services dimension. Is trade in services so different that we need to modify the conclusions on preferential agreements reached so far in the realm of goods? This paper examines, first, the implications of unilateral policy choices in a particular services market. It then explores the economics of international cooperation and identifies the circumstances in which a country is more likely to benefit from cooperation in a regional rather than multilateral forum. Finally, it reviews some evidence on services liberalization under the European Union`s Single Market Program.
Measuring Services Trade Liberalization and Its Impact on Economic Growth: An Illustration
( Aaditya Mattoo ),( Randeep Rathindran ),( Arvind Subramanian ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2006 Journal of Economic Integration Vol.21 No.1
The paper has three purposes. First, it explains how the impact of liberalization of service sectors on output growth differs from that of liberalization of trade in goods. Second, it suggests a policy-based rather than outcome-based measure of the openness of a country`s services regime. Such openness measures are constructed for two key service sectors, basic telecommunications and financial services. Finally, it provides some econometric evidence-relatively strong for the financial sector and less strong, but nevertheless statistically significant, for the telecommunications sector-that openness in services influences long run growth performance . Our estimates suggest that countries with fully open telecom and financial services sectors grow up to 1.5 percentage points faster than other countries.
Discriminatory Consequences of Non-discriminatory Standards
Mattoo, Aaditya 세종대학교 국제경제연구소 2001 Journal of Economic Integration Vol.16 No.1
This paper shows that environmental, labour and other standards can be effective strategic policy instruments even when they are strictly non-discriminatory. This is because standards can be set which the foreign producer optimally chooses not to meet, allowing the domestic producer to monopolize the standardized segment of the market. Thus, it is imposition of unilaterally determined standards-which could impact negatively on trading partners even when they are non-discriminatory-rather than internationally negotiated standards.
Trade in Developing East Asia: How It Has Changed and Why It Matters
Cristina Constantinescu,Aaditya Mattoo,Michele Ruta 대외경제정책연구원 2018 East Asian Economic Review Vol.22 No.4
East Asia, for long the epitome of successful engagement in trade, faces serious challenges: technological change that may threaten the very model of labor intensive industrialization and a backlash against globalization that may reduce access to important markets. The analysis in this article suggests that how East Asia copes with these global challenges will depend on how it addresses three more proximate national and regional challenges. The first is the emergence of China as a global trade giant, which is fundamentally altering the trading patterns and opportunities of its neighbors. The second is the asymmetric implementation of national reform – in goods trade and investment versus services – which is affecting the evolution of comparative advantage and productivity in each country. The third is the divergence between the relatively shallow and fragmented agreements that regulate the region's trade and investment and the growing importance of regional and global value chains as crucial drivers of productivity growth.
Estimating the Knowledge Capital Model for Foreign Investment in Services: The Case of Singapore
Chellaraj, Gnanaraj,Mattoo, Aaditya Korea Institute for International Economic Policy 2019 East Asian Economic Review Vol.23 No.2
Singapore's inward and outward investments with industrialized countries in both manufacturing and service sectors were skill seeking while outward investments to developing countries were labor seeking. Applying the Knowledge-Capital model, it was found that services Foreign Direct Investment is sensitive to skill differences. A ten-percent decline in skill differences with industrialized countries resulted in a 4.25 percent rise in inbound manufacturing and 1.48 percent rise in inbound services investments. Meanwhile, a ten-percent increase in skill differences with developing countries resulted in a 30 percent rise in outbound manufacturing and 0.38 percent rise in services investments. Furthermore, when services are distinguished by skill-intensity, the impact of relative skill endowments on inbound Foreign Direct Investment in skill-intensive services is significantly different from the impact on other services. However, when services are disaggregated by "proximity" needs, we do not find any significant difference in the impact of relative skill endowments on Foreign Direct Investment.