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Quantification of Services Trade Restrictions - A new Approach

Author

Listed:
  • Manoj pant

    (Indian Institute of Foreign Trade , New Delhi)

  • Sugandha Huria

    (Jawaharlal Nehru University , New delhi)

Abstract
The gradual transformation in the structure of trade with services contributing to almost two-thirds of the global GDP, has made the design and implementation of services trade policy a high-profile issue for many countries. With the process of regulating commodity trade being known, it is expected that most of the future trade negotiations at the WTO will also be centred around services. In fact, a services trade chapter is already being included in some RTAs like TTIP, TPP, India-ASEAN along with the related issue of foreign investment. It is now well known that though the RCEP negotiation’ details are not publicly known, a sticking point is the extension of the agreement to services trade. However, in comparison to the extensive literature available on regulations affecting commodity trade, very limited attention seems to have been paid on assessing services trade restrictiveness. Recently, the OECD has come up with an objective indicator of services trade regulations, known as the OECD STRI. However, its methodology suffers from various theoretical and empirical shortcomings, which makes it inadequate for policy purposes. To this end, the paper proposes a new and theoretically sounder approach for quantifying services trade restrictions, which is both consistent and country neutral.

Suggested Citation

  • Manoj pant & Sugandha Huria, 2019. "Quantification of Services Trade Restrictions - A new Approach," Working Papers 1940, Indian Institute of Foreign Trade.
    • Handle: RePEc:ift:wpaper:1940
    as

    Download full text from publisher

    File URL: ftp://203.190.248.10/RePEc/ift/workingpapers/EC-19-40.pdf
    File Function: First version, 2019
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    References listed on IDEAS

    as
    1. Bernard Hoekman & Ben Shepherd, 2017. "Services Productivity, Trade Policy and Manufacturing Exports," The World Economy, Wiley Blackwell, vol. 40(3), pages 499-516, March.
    2. Sébastien Miroudot & Charles Cadestin, 2017. "Services In Global Value Chains: From Inputs to Value-Creating Activities," OECD Trade Policy Papers 197, OECD Publishing.
    3. Sebastian Benz, 2017. "Services trade costs: Tariff equivalents of services trade restrictions using gravity estimation," OECD Trade Policy Papers 200, OECD Publishing.
    4. Sebastian Benz & Anupam Khanna & Hildegunn Kyvik Nordås, 2017. "Services and Performance of the Indian Economy: Analysis and Policy Options," OECD Trade Policy Papers 196, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Manoj Pant & Sugandha Huria, 2022. "Technological Change and Demographics in a model where consumption is time-constrained," Working Papers 2259, Indian Institute of Foreign Trade.

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    More about this item

    Keywords

    Services Trade; Regulations; WTO trade negotiations; OECD Services Trade Restrictiveness Index.;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • L80 - Industrial Organization - - Industry Studies: Services - - - General

    NEP fields

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