Trading Services in the Global Economy

This book provides one of the first interdisciplinary reviews of the relationship between services, globalisation and trade liberalisation as we enter the twenty-first century. Written by academics and policymakers, it contains a detailed analysis of the characteristics of service trade and of recent and current service trade negotiations. The authors focus on exploring the complex relationship between the process of globalisation and the globalisation of services taking into consideration service trade negotiations. Many service functions reduce the relative distance between places and more importantly enable the process of globalisation. The globalisation of service functions is complex. Services are different from goods as they depend on human capital (embodied knowledge and reputations) and have to be localized to meet specific cultural and political requirements. The General Agreement on Trade in Services (GATS) needs to be informed by an understanding of the differences that exist between goods and services as well as by the processes by which services globalise. The GATS has to be more than just about quantitative-based policies but also has to explore national regulations that inhibit trade in services. This book will be of special interest to economists, geographers and policymakers with a specific involvement in service trade and trade liberalization.