본 논문은 상품무역과 비교하여 서비스무역에 영향을 미치는 결정요인들을 분석하는 것을 주 목적으로 하고 있다. 이를 위하여 본 논문은 중력식을 이용하여 10개 OECD 회원국가 여타 국가들과의 상품무역 및 서비스무역의 결정식을 회귀분석하였다. 그 결과 서비스무역은 ...

본 논문은 상품무역과 비교하여 서비스무역에 영향을 미치는 결정요인들을 분석하는 것을 주 목적으로 하고 있다. 이를 위하여 본 논문은 중력식을 이용하여 10개 OECD 회원국가 여타 국가들과의 상품무역 및 서비스무역의 결정식을 회귀분석하였다. 그 결과 서비스무역은 상품무역에 비하여 중력식에 의해 더 잘 설명되는 것으로 확인되었다. 아울러 상품무역과 서비스무역간에는 보완관계가 있음이 확인되었다.

The main purpose of this paper is to assess the impact of various factors on bilateral services trade, relative to that on bilateral goods trade. To accomplish this purpose, using the standard gravity model, we ran regressions on bilateral services tr ...

The main purpose of this paper is to assess the impact of various factors on bilateral services trade, relative to that on bilateral goods trade. To accomplish this purpose, using the standard gravity model, we ran regressions on bilateral services trade and goods trade between 10 OECD member countries and other economies (including OECD member and non-OECD member countries) for the years 1999 and 2000. One main and interesting result is that services trade is better predicted by gravity equations than goods trade. Another interesting result is that there is complementary relationship between goods exports and services imports.

The main purpose of this paper is to assess the impact of various factors on bilateral services trade, relative to that on bilateral goods trade. To accomplish this purpose, using the standard gravity model, we ran regressions on bilateral services tr ...

The main purpose of this paper is to assess the impact of various factors on bilateral services trade, relative to that on bilateral goods trade. To accomplish this purpose, using the standard gravity model, we ran regressions on bilateral services trade and goods trade between 10 OECD member countries and other economies (including OECD member and non-OECD member countries) for the years 1999 and 2000. One main and interesting result is that services trade is better predicted by gravity equations than goods trade. Another interesting result is that there is complementary relationship between goods exports and services imports.

The main purpose of this paper has been to analyze the determinants of bilateral services trade as compared to those of bilateral goods trade. To accomplish this purpose, using the standard gravity model, we ran regressions on bilateral services trade ...

The main purpose of this paper has been to analyze the determinants of bilateral services trade as compared to those of bilateral goods trade. To accomplish this purpose, using the standard gravity model, we ran regressions on bilateral services trade and goods trade from 10 OECD member countries to other economies (including OECD member and non-OECD member countries) covering the two years 1999 and 2000.

We summarize some of the key findings. First of all, the values of adjusted R2 obtained for services trade (exports and imports) are greater than those for goods trade. This result implies that the gravity equation performs better with international trade in services than with trade in goods.

Also, there are some differences between services trade and goods trade with regard to the elasticities of the explanatory variables. Geographical distance is consistently more important for services trade (exports and imports) than for goods trade. This result may indicate that the cost of transport for tradable services is "in general" higher than that for goods. However, there is a need for further investigation using the disaggregate services trade data, to find out why geographical distance is more important for the flows of traded services than for goods trade.

We found that the common land border dummy variable exerts a significant positive impact on bilateral goods trade, whereas the effect on bilateral services trade is much weaker. We also found that common membership in the same regional trade arrangement has a significant impact on both services trade and goods trade. The results suggest that even though many of the regional trade arrangements to date fail to include services explicitly, they certainly facilitate services trade at least as much as goods trade.

Another interesting result concerns the impact of economic freedom on services trade. In our application, both goods trade and services trade are positively affected by economic freedom (i.e. negatively affected by economic impedance), but the effect is much stronger for services trade. This implies that as countries move toward economic liberalization, services trade will grow faster than goods trade, and hence services trade will play an even more important role in the global economy.

Lastly, we have shown that while unexplained variation in service exports is not accompanied by unexplained variation in goods trade (either in goods exports or in goods imports), unexplained variation in goods exports is accompanied by unexplained variation in service imports. This result may reflect the existence of trade in factor services which helps increase the exports of goods.

The OECD dataset does not provide information on the type of services traded among country pairs, covering only aggregate values of bilateral trade in services. However, as stressed above, because the idiosyncratic nature of each traded service should have different policy implications, future research at sectoral level is urged, subject to the availability of the data.