Developing the Service Sector as Engine of Growth for Asia: An Overview

Noland, Marcus; Park, Donghyun; Estrada, Gemma

doi:10.2139/ssrn.2198159

Cited by 33 publications

(31 citation statements)

References 12 publications

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“…As the manufacturing sector matures, productivity growth in manufacturing offsets employment growth and the employment share of services continues to increase while the employment share of manufacturing begins to decline. While export‐oriented industrialisation in conjunction with cheaper input costs has transformed East and Southeast Asia into the factory of the world, the region's record in the service sector has been much less impressive (Noland et al ).…”

Section: Literature Reviewmentioning

confidence: 99%

“…In Asia, the heterogeneity of the sector is compounded by the enormous heterogeneity of the region itself, with member countries being at very different stages in both their level of economic development and the state of their service sector (Francois and Hoekman ). As a result of this heterogeneity, the policies used to encourage development in the service sector must be country‐ and industry‐specific (Noland et al ). This section details literature relevant to the service sector and its ability to drive economic growth, productivity, and living standards.…”

Section: Literature Reviewmentioning

confidence: 99%

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Service sector development in Asia: an important instrument of growth

Kim

Wood

2020

Asian-Pac Economic Lit

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The under‐developed service sector in Asia has the potential to become a new engine of economic growth for developing Asia, which has for a long time relied on export‐oriented manufacturing to power its growth. The study seeks to achieve three objectives. First, to provide a comprehensive analysis of the service sector by detailing industry trends, its growing importance to the region, its synergy with industry, and its ability to achieve more inclusive growth. Second, to highlight productivity concerns in the sector and propose relevant strategies for achieving greater productivity gains. Finally, to establish a set of policy provisions based around the infrastructural, human capital, and regulatory gaps that exist across the Asian service sector. Overall, the analysis provides substantial cause for optimism about the role of the service sector as an engine of growth in Asia.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Service sector development in Asia: an important instrument of growth

Kim

Wood

2020

Asian-Pac Economic Lit

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“…The rapid development of information and communication technologies, globalization, the dominance of the service sector over manufacturing, and the growing importance of knowledge (itself an independent factor of production) all generate new conditions for the functioning of the market economy (Noland, Park & Estrada 2012). A post-industrial period of scientific and technological revolution is changing the composition of economic forces.…”

Section: Some New Challenges Facing the Modern Statementioning

confidence: 99%

Some Reflections on the New Challenges Facing the Modern State

Bochańczyk-Kupka

Pęciak

2019

AOC

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The debate among economists over the scope of state intervention in economic processes has a long history. After periods in which laissez-faire theories were dominant, views that promoted the active participation of the state in economic life increasingly came to the fore. Economic theory and business practice, both subject to fluctuations, have sometimes preferred the first approach and sometimes the second. The modern state operates in an increasingly globalized, dynamic, and turbulent environment. This changeable environment, the diversity of development levels, and the emergence of new institutions urge a redefinition of its role in modern economies. This paper contributes to the debate on the challenges and economic role of modern state and identifies some of those challenges.

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“…In this context, many countries in Asia have mainly been focusing on facilitating the manufacturing side of the economy, and the potential of services has been left out in developing market integration. Productivity within the service industry has also been lower compared with manufacturing in Asia, and it is a potential to utilise the growth of services to offset the loss of momentum for the manufacturing industry (Noland et al 2012). The free market and open attitude has attracted FDI in many different sectors.…”

Section: Singapore As a Service Hub In Asiamentioning

confidence: 99%

The service sector in the free-trade agreement between the EU and Singapore: closing the gap between policy and business realities

2016

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The aim of this paper is to investigate how new rules and practices in multilateral, regional and bilateral trade negotiations related to the services industries can be adopted and implemented at the business level, using the recently concluded free-trade agreement (FTA) negotiations between the EU and Singapore as an illustrative case. The purpose is to put the services sector into the larger framework of business service interaction between the EU and the outside world by identifying crucial subsectors within the services industries and their relations to physical, 'visible' production and trade. Furthermore, to assess the prospects of 'multilateralising' regional trade agreements within the service sector, through the ambitions by both parties to make bilateral and interregional FTAs and EPAs more compatible and mutually comparable with the multilateral GATS' rules. The EU-Singapore FTA is an agreement that became a 'second-best' solution of the stalled interregional EU-ASEAN negotiation, taking place 2006-2009. It can nevertheless be seen as a 'WTO-plus' endeavour, since it aims at reaching beyond what is under negotiation in the likewise stalled Doha Development Agenda within the WTO framework, particularly in the fields of business services, public procurement, intellectual property rights, trade-related investment measures, and, generally, competition rules. Since both parties already apply low or zero tariffs in most sectors of manufacturing, the main issues in the negotiations were related to services in general and knowledge-intensive business services in particular, with an emphasis on technical barriers to trade. To what extent will there be a true mutual opening up of the service markets between the two parties as a result of the agreement, and what technical and mental barriers remain? This FTA, if successfully implemented, can also pave the way for a revitalisation of the 'paused' EU-ASEAN talks, in which Asia Eur J (2017) 15:75-105

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Developing the Service Sector as Engine of Growth for Asia: An Overview

Cited by 33 publications

References 12 publications

Service sector development in Asia: an important instrument of growth

Service sector development in Asia: an important instrument of growth

Some Reflections on the New Challenges Facing the Modern State

The service sector in the free-trade agreement between the EU and Singapore: closing the gap between policy and business realities

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