Resultados respecto al objetivo específicos 1:

For reasons of employment, international relations, and internal stability, Asia must strengthen its service sector. In lower-income economies, traditional services account for much of the sector whereas in the higher-income ones, modern services play a bigger role. This diversity necessarily means that they face different priorities in developing their sectors, but strengthening modern services remains a common challenge. The intangible nature of many services does not detract from their very real economic effects, especially in employment but also in broader economic dynamism. For example, efficient energy, transportation, and distribution networks boost the productivity of the manufacturing sector.

The service sector already accounts for a large share of Asia’s output and employment. This is hardly surprising since industrialization, during which the share of output and employment in both services and industry typically rises at the expense of agriculture, is underway in most of Asia including in its poorer, less-developed economies. The growth of the service sector has in fact already made a sizeable contribution to economic growth and has the potential to reduce poverty in a region that is still home to almost two-thirds of the world’s poor.

There is plenty of scope for further growth and development in Asia’s service sector as traditional services still account for a large share, and partly as a result, the sector lags far behind the OECD in terms of efficiency. This yawning productivity gap between Asian and OECD economies implies a wide range of

structural and policy impediments that must be removed in order for Asia to fully unleash the potential of the sector as an engine for growth and job creation.

Given the diversity of the region, there is obviously not a single template for reforms. Specific policies will have to be tailored to local circumstances.

Nevertheless, there are recurrent themes. First and foremost is encouraging competition in service provision. Often this will require removing burdensome regulations that typically protect incumbent firms and thus stifle competition and innovation (Wölfl et al. 2010). International experience historically shows that regulatory reforms often deliver significant economic benefits, such as higher labor productivity and lower prices (OECD 2005). Where services are currently provided by public entities, competition can be achieved through regulatory reforms that foster competition and choice, short of privatizing them. An example would be opening education to private providers.

Regulatory reform may be a necessary condition, but it is unlikely to be a sufficient one. Strengthening labor and capital markets must complement regulatory reform to encourage the establishment and growth of new and innovative service providers.

Competition can also be imported. External barriers that impede trade in services and the local establishment of foreign providers also hinder competition in domestic service markets. Reducing such barriers can not only promote efficiency and productivity in services but can also contribute directly to exports and growth, e.g., India’s success as an IT-BPO exporter. The overall guiding principle for Asian policy makers must be to create a more competitive environment for their service industries.

Notes

1 It is true that technological progress, for example in information and communication technology, is making services more tradable, but overall, services remain less tradable than goods.

2 Furthermore, the definition of services is not always clear cut; for example, potable water, electricity, and other public utilities are defined as part of the industry sector rather than service sector.

3 ICT comprises various goods and services such as telecommunications, audio and video, computers and related equipment; electronic components; telecommunications and business network services; databases; data processing; software design and development, maintenance, and repair; and news-related service transactions (World Bank and International Telecommunication Union 2012).

4 Developing Asia is defined as Afghanistan; Armenia; Azerbaijan; Bangladesh; Bhutan;

Brunei Darussalam; Cambodia; People’s Republic of China; Cook Islands; Fiji; Georgia;

Hong Kong, China; India; Indonesia; Kazakhstan; Kiribati; Republic of Korea; Kyrgyz

Republic; Lao People’s Democratic Republic; Malaysia; Maldives; Marshall Islands;

Micronesia, Federated States of; Mongolia; Myanmar; Nauru; Nepal; Pakistan; Palau;

Papua  New Guinea; Philippines; Samoa; Solomon Islands; Singapore; Sri Lanka;

Taipei,China; Tajikistan; Thailand; Timor-Leste; Tonga; Turkmenistan; Tuvalu; Uzbekistan;

Vanuatu; and Viet Nam.

5 This listing (and the one for employment that follows) could well change if one adopted a nonlinear norm as do Eichengreen and Gupta (2009). Please refer to Chapter 2 for an empirical analysis based on the nonlinear models of Eichengreen and Gupta (2009).

6 A separate issue is which services are tradable (Chapter 5).

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Is the Service Sector in Asia