Services Trade Policies and the Global Economy

image of Services Trade Policies and the Global Economy

This book synthesises recent work by the OECD analysing services trade policies and quantifying their impacts on imports and exports, the performance of manufacturing and services sectors, and how services trade restrictions influence the decisions and outcomes of firms engaged in international markets. Based on the OECD Services Trade Restrictiveness Index (STRI) - a unique, evidence-based tool that provides snapshots of regulations affecting trade in services in 22 sectors across 44 countries (representing over 80% of global trade in services) - the analysis highlights the magnitude, nature and impact of the costs entailed by restrictive services trade policies. The new evidence uncovered is meant to inform trade policy makers and the private sector about the likely effects of unilateral or concerted regulatory reforms and help prioritise policy action.

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The benefits of open services markets

presents evidence that services trade impediments severely affect trade, which has wide-ranging consequences for other areas of economic performance. It reviews the findings of recent OECD analysis of the effect of restrictions on services sectors themselves, as well as in downstream industries that use services as intermediate inputs. The chapter also presents initial insights from on-going OECD analysis to develop trade cost equivalents for services barriers. Finally, it reports the preliminary findings of work estimating the value of commitments made in international trade agreements, particularly in terms of enhancing transparency and predictability in trade and investment.

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