This paper analyses the role of services in international trade through the lens of global value chains (GVCs …). Services account for more than 70% of world GDP but only for around 20% of world trade in balance of payments terms. In value … added terms, accounting for services embodied in exported goods, services account for 40% of world trade. However, the …

production that involves services – and in particular business services – offshoring. A predominant stand by scholars emerges in … services might be considered a sort of ‘third unbundling’ of internationalisation of production, which opens up new … responsible for a global sectoral structural change involving services? Is this process leading to smart and equitable catching up …