Organizer Asian Development Bank & Asian Development Bank Institute
WTO Library 2019-07-03 13:30-14:00
The services economy is on the rise all around the world. Services provide, in nearly all economies, the largest proportion of economic activity and employment. At the same time, the services economy remains relatively under-studied. The book presents latest evidence on how technologies and globalization have transformed the services industry.
Today, services are increasingly tradable under WTO rules and regional trade agreements. Some services sub-sectors are also seeing rates of productivity growth that are comparable to manufacturing. At the same time, services increasingly contribute to manufacturing success and that countries’ overall economic competitiveness hinges crucially on the availability of high-quality and affordable services inputs. Furthermore, a well-functioning services sector can accelerate human development through better access to basic needs, such as education, energy, finance, health, water and sanitation. Services can also become a source of good jobs that have less negative environmental and social externalities.
Overall, the ongoing structural transformation towards a services economy is a unique change to achieve long run income growth, which in turn helps to promote sustainable development. This book gives ideas on the how and is thus an indispensable read for researchers and policy makers alike.
- Bambang Susantono Vice-President for Knowledge Management and Sustainable Development, Asian Development Bank
- Martin Roy Counsellor, World Trade Organization