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    Service Sector Productivity and Economic Growth in Asia

    Lee, Jong-Wha; McKibbin, Warwick J. | July 2014
    Abstract
    This paper explores the impacts of more rapid growth in labor productivity in the service sector in Asia based on an empirical general equilibrium model. The model allows for input– output linkages and capital movements across industries and economies, and consumption and investment dynamics. We find that faster productivity growth in the service sector in Asia benefits all sectors eventually, and contributes to the sustained and balanced growth of Asian economies, but the dynamic adjustment is different across economies. This adjustment depends on the sectoral composition of each economy, the capital intensity of each sector, and the openness of each sector to international trade. In particular, during the adjustment to higher services productivity growth, there is a significant expansion of the durable manufacturing sector that is required to provide the capital stock that accompanies the higher aggregate economic growth rate.
    Citation
    Lee, Jong-Wha; McKibbin, Warwick J.. 2014. Service Sector Productivity and Economic Growth in Asia. © Asian Development Bank. http://hdl.handle.net/11540/4001. License: CC BY 3.0 IGO.
    Keywords
    Commerce and Industry
    Intra-Industry Trade
    Large Scale Industry
    Labor
    Technical Evaluation
    Results-Based Monitoring And Evaluation
    Performance Evaluation
    Industrialization
    Industrial Economics
    Industrial Development
    Industrial Policy
    Technology assessment
    Capital market
    Developing countries
    Market share
    Labor
    Technology transfer
    Cumulative effects assessment
    Job analysis
    Task analysis
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    Citable URI
    http://hdl.handle.net/11540/4001
    Metadata
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    Author
    Lee, Jong-Wha
    McKibbin, Warwick J.
    Theme
    Industry
    Evaluation
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise