Services diversification and economic growth

The present article investigates the effect of services export diversification on economic growth by relying on a sample of 131 countries over the period 1985-2014. The empirical results, based on the two-step system Generalized Methods of Moments (GMM), have suggested that services export diversifi...

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Autor principal:	Sèna Kimm Gnangnon
Formato:	article
Lenguaje:	EN
Publicado:	Università Carlo Cattaneo LIUC 2021
Materias:	services export diversification services export growth trade openness Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/aeacef766a794c3e9fe6d878e2dbe1cc
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id	oai:doaj.org-article:aeacef766a794c3e9fe6d878e2dbe1cc
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spelling	oai:doaj.org-article:aeacef766a794c3e9fe6d878e2dbe1cc2021-11-25T10:42:10ZServices diversification and economic growth10.25428/1824-2979/202101-49-861824-2979https://doaj.org/article/aeacef766a794c3e9fe6d878e2dbe1cc2021-06-01T00:00:00Zhttps://ejce.liuc.it/18242979202101/182429792021180103.pdfhttps://doaj.org/toc/1824-2979The present article investigates the effect of services export diversification on economic growth by relying on a sample of 131 countries over the period 1985-2014. The empirical results, based on the two-step system Generalized Methods of Moments (GMM), have suggested that services export diversification enhances economic growth in developing countries, whereas in High Income Countries (HICs), services export specialization promotes economic growth. Furthermore, services export diversification influences positively economic growth in countries that experience a higher services exports growth, with the magnitude of this positive effect increasing as the growth rate of services exports rises. Finally, services export diversification tends to be positively associated with economic growth for lower levels of trade openness. However, as countries enjoy greater trade openness, they tend to enhance their services export specialization so as to promote economic growth. One key message conveyed by the analysis is the importance of services export diversification (or concentration) for economic growth, including when countries further open up to international trade.Sèna Kimm GnangnonUniversità Carlo Cattaneo LIUCarticleservices export diversificationservices export growthtrade opennessEconomics as a scienceHB71-74ENThe European Journal of Comparative Economics, Vol 18, Iss 1, Pp 49-86 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	services export diversification services export growth trade openness Economics as a science HB71-74
spellingShingle	services export diversification services export growth trade openness Economics as a science HB71-74 Sèna Kimm Gnangnon Services diversification and economic growth
description	The present article investigates the effect of services export diversification on economic growth by relying on a sample of 131 countries over the period 1985-2014. The empirical results, based on the two-step system Generalized Methods of Moments (GMM), have suggested that services export diversification enhances economic growth in developing countries, whereas in High Income Countries (HICs), services export specialization promotes economic growth. Furthermore, services export diversification influences positively economic growth in countries that experience a higher services exports growth, with the magnitude of this positive effect increasing as the growth rate of services exports rises. Finally, services export diversification tends to be positively associated with economic growth for lower levels of trade openness. However, as countries enjoy greater trade openness, they tend to enhance their services export specialization so as to promote economic growth. One key message conveyed by the analysis is the importance of services export diversification (or concentration) for economic growth, including when countries further open up to international trade.
format	article
author	Sèna Kimm Gnangnon
author_facet	Sèna Kimm Gnangnon
author_sort	Sèna Kimm Gnangnon
title	Services diversification and economic growth
title_short	Services diversification and economic growth
title_full	Services diversification and economic growth
title_fullStr	Services diversification and economic growth
title_full_unstemmed	Services diversification and economic growth
title_sort	services diversification and economic growth
publisher	Università Carlo Cattaneo LIUC
publishDate	2021
url	https://doaj.org/article/aeacef766a794c3e9fe6d878e2dbe1cc
work_keys_str_mv	AT senakimmgnangnon servicesdiversificationandeconomicgrowth
_version_	1718413578873077760

Services diversification and economic growth

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