Impact of Services Liberalization on Industry Productivity, Exports and Development
Services now constitute about 70 percent of global GDP.2 Moreover, foreign direct investment (FDI) flows have shifted toward services, and now constitute almost half of total FDI flows in developing countries.3 Recognizing their importance and the need to have special rules to treat trade in services, the General Agreement on Trade in Services (GATS) was incorporated into the World Trade Organization (WTO) when it was formed in the mid-1990s... more »