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The service sector is large and growing. Additionally, international trade in services is growing rapidly. Yet there is a dearth of empirical research on the size, scope and potential impact of services trade. The underlying source of this gap is well-known--official statistics on the service sector in general, and trade in services in particular, lack the level of detail available for the manufacturing sector in many dimensions. Because services are such a large and important component of the US economy, understanding the implications of increased trade in services is crucial to the trade liberalization agenda going forward. In this path-breaking book, J. Bradford Jensen conducts primary research using a range of data sources to produce the most detailed and robust portrait available on the size, scope, and potential impact of trade in services on the US economy.

Jensen presents new evidence on the prevalence of service firm participation in international trade. He finds that, in spite of US comparative advantage in service activities, service firms' export participation lags manufacturing firms. Jensen evaluates the impediments to services trade and finds evidence that there is considerable room for liberalization--especially among the large, fast-growing developing economies. The policy recommendations coming out of this path-breaking study are quite clear. The United States should not fear trade in services. It should be pushing aggressively for services trade liberalization. Because other advanced economies have similar comparative advantage in service, the United States should make common cause with the European Union and other advanced economies to encourage the large, fast-growing developing economies to liberalize their service sectors through multilateral negotiations in the General Agreement on Trade in Services and the Government Procurement Agreement. Jensen notes that the coming global infrastructure building boom is of historic proportions and provides an enormous opportunity for US service firms if the proper policies are in place. Increased trade in services might help rebalance the global economy, and both developed and developing economies would benefit from the productivity-enhancing reallocation brought by increased trade in services.

Tabla de contenidos provista por Syndetics

• Preface(p. xiii)
• Author's Note(p. xvii)
• Acknowledgments(p. xix)
• Overview(p. 1)
• 1 Some Basic Facts about the Service Sector and Service Trade(p. 11)
• Size and Growth of the Service Sector(p. 14)
• Services in More Detail(p. 15)
• Wages in the Service Sector(p. 20)
• The Service Sector and the Broader Economy(p. 20)
• Characteristics of Service Producers: A Closer Look(p. 21)
• International Comparisons(p. 24)
• A First look at trade in services(p. 26)
• Shortcoming of service-sector data(p. 38)
• Summary(p. 40)
• 2 A New Approach to Identifying Tradable Services(p. 41)
• New Methodology(p. 42)
• Classifying Industries and Occupations by Tradability(p. 50)
• Summary(p. 63)
• 3 Characteristics, of Workers in Tradable Service Industries(p. 65)
• How Many Workers Are Employed in Tradable Services?(p. 66)
• Characteristics of Workers in Tradable Industries and Tradable Occupations(p. 70)
• Characteristics of Industry-Occupation Combinations(p. 72)
• Detailed Industry and Occupation Profiles(p. 76)
• Regression Results(p. 78)
• 4 Comparative Advantage: Lessons from Manufacturing(p. 83)
• Comparative Advantage(p. 84)
• Factor Abundance, Factor Intensity, and Comparative Advantage(p. 86)
• A Key Assumption: The Long Run(p. 89)
• Comparative Advantage across Industries in Manufacturing(p. 91)
• Education, Skills, and Earnings in Manufacturing(p. 94)
• Comparative Advantage and US Manufacturing Imports(p. 96)
• Comparative Advantage and US Manufacturing Exports(p. 101)
• Comparative Advantage within Manufacturing Industries(p. 102)
• Conclusion(p. 110)
• 5 Comparative Advantage: Prospects for the Service Sector(p. 111)
• Comparative Advantage across Sectors: US Trade Balances in Goods and Services(p. 112)
• Education, Skills, and Earnings in Services(p. 113)
• Comparative Advantage and Exports across Service Industries(p. 116)
• Comparative Advantage and US Service Imports(p. 122)
• Conclusion(p. 134)
• 6 Impediments to Trade in Services(p. 137)
• How Prevalent Is Trade in Services(p. 138)
• Impediments to Trade in Services(p. 144)
• Conclusion(p. 153)
• 7 Labor Market Impact of Increased Service Trade(p. 155)
• Prospects for Employment Dislocation(p. 156)
• Labor Market Impact to Date: Aggregates(p. 162)
• Labor Market Impact to Date: Industries and Occupations(p. 165)
• Trade in Services and Job Displacement(p. 166)
• Conclusion(p. 170)
• 8 Trade Service across US Regions: Opportunities and Vulnerabilities(p. 171)
• Tradable Services across Regions(p. 172)
• Geographic Concentration of Low-Wage Tradable Services(p. 178)
• 9 Conclusions and Policy Implications(p. 181)
• Some Observations on Service Tradeùand Their Policy Implications(p. 182)
• The Need for Better Data on Services(p. 191)
• Conclusion(p. 192)
• Appendices
• Appendix A Data Needs for Analyzing Trade in the Service Sector(p. 197)
• Appendix B Data Used in the Book(p. 215)
• Appendix C NAICS Major Sectors and SOC Major Occupation Groups(p. 221)
• Appendix D Correction for Demand-Based Agglomeration(p. 231)
• References(p. 233)
• Index(p. 237)
• Tables
• Table 1.1 Economic sectors and their two-digit NAICS codes(p. 17)
• Table 1.2 Employment and wages by two-digit NAICS sector, 2007(p. 18)
• Table 1.3 Sales, employment, and average wage per establishment in manufacturing and services, 2002(p. 22)
• Table 1.4 Size distribution of establishments in manufacturing and services(p. 23)
• Table 1.5 Internet usage by world region, 2009(p. 36)
• Table 2.1 Location quotients for selected industries and US metropolitan areas(p. 44)
• Table 2.2 Locational Gini classes for individual service industries(p. 55)
• Table 2.3 Employment in NAICS sectors by degree of readability(p. 59)
• Table 2.4 Correlations between geographic concentration and export measures for manufacturing and business services(p. 60)
• Table 2.5 Employment in SOC occupations by degree of tradability(p. 63)
• Table 3.1 Shares of US employment in nontradable and tradable industries by sector(p. 67)
• Table 3.2 Shares of US employment in tradable occupations and industries(p. 69)
• Table 3.3 Characteristics of US workers in tradable and nontradable industries(p. 71)
• Table 3.4 Characteristics of US workers in tradable and nontradable occupations(p. 73)
• Table 3.5 Characteristics of US workers by industry-occupation group(p. 75)
• Table 3.6 Estimated US earnings premium in tradable and nontradable activities(p. 81)
• Table 4.1 Educational attainment and earnings in selected US manufacturing industries, 2007(p. 95)

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CHOICE Review

It has been widely reported that the service sector is a large and important part of the US economy; for example, business services alone employ more than twice as many persons as does the manufacturing sector. Yet, with regard to export trade, far more media coverage is devoted to manufactured products than to services--despite the rapid increase in international trade in services. Jensen (Georgetown Univ.) does much to narrow this inequity by placing the service sector in proper perspective and by drawing attention to the potential for the US to expand its export trade in services. Compared with manufacturing, there is insufficient data and analysis on services. Therefore, it was necessary for the author to draw data from a wide range of sources, resulting in a groundbreaking portrayal of US trade in services. Much of the book explores the impact of increased trade in services on the US economy. Jensen includes discussions of data needs and currently available data sources. Numerous graphs and tables condense and highlight key points made in the text. Summing Up: Highly recommended. Upper-division undergraduate through professional collections. W. C. Struning emeritus, Seton Hall University

Notas de autor provistas por Syndetics

J. Bradford Jensen, senior fellow, is professor of economics and international business at the McDonough School of Business at Georgetown University. He is also a senior policy scholar at the Georgetown Center for Business and Public Policy and a research associate of the National Bureau of Economic Research. He has been affiliated with the Peterson Institute for International Economics since 2003, serving as deputy director from 2003 to August 2007. Before joining the Institute, he served as director of the Center for Economic Studies at the US Census Bureau and on the faculty of the Heinz School of Public Policy and Management at Carnegie Mellon University.