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...

Austrian business cycles are strongly dependent on the development of foreign exports. The paper deals with two important issues in this context: What is the impact of foreign exports on total growth in the Austrian economy? A more and more globalized economy implies that the share of foreign...

Services trade constitute roughly one-third of trade on a value added basis, and much of this is concentrated in margin services (transport, logistics) linked to trade in goods. However, producer services are also part of the value added contained in traded goods. This is especially true in high...

Services trade constitute roughly one-third of trade on a value added basis, and much of this is concentrated in margin services (transport, logistics) linked to trade in goods. However, producer services are also part of the value added contained in traded goods. This is especially true in high...