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The future of services in a globalized economy

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  • Edward Nissan
  • Miguel-Angel Galindo
  • Maria Teresa Méndez

Abstract

In recent decades, the New Economy approach has been developed. This approach tries to analyse the new relationships among countries through the globalization process and has changed the views of several economists about the behaviour of economic activity. In this approach, services play a relevant role. The main goal of this paper is to explore the important role of services in the new economy. Through an extensive literature review, a variety of topics that connect economic growth and development to the presence of services is analysed. It also, by providing recent trends in services when compared with manufacturing, shows that the role of services, especially financial, has been on the increase in recent years.

Suggested Citation

  • Edward Nissan & Miguel-Angel Galindo & Maria Teresa Méndez, 2010. "The future of services in a globalized economy," The Service Industries Journal, Taylor & Francis Journals, vol. 31(1), pages 59-78, February.
    • Handle: RePEc:taf:servic:v:31:y:2010:i:1:p:59-78
    DOI: 10.1080/02642069.2010.485195
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    References listed on IDEAS

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    2. Zoltan J. Acs & David B. Audretsch & Pontus Braunerhjelm & Bo Carlsson, 2005. "Growth and Entrepreneurship: An Empirial Assessment," Papers on Entrepreneurship, Growth and Public Policy 2005-32, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    3. Erasmus K. Kersting & Mark A. Wynne, 2008. "The globalization of U.S. business investment," Staff Papers, Federal Reserve Bank of Dallas, issue Feb.
    4. Audretsch, David & Braunerhjelm, Pontus & Acs, Zoltán J & Carlsson, Bo, 2004. "The Missing Link: The Knowledge Filter and Entrepreneurship in Endogenous Growth," CEPR Discussion Papers 4783, C.E.P.R. Discussion Papers.
    5. Richard Alm & W. Michael Cox, 2007. "Opportunity knocks: selling our services to the world," Annual Report, Federal Reserve Bank of Dallas, pages 6-27.
    6. James E. Rauch, 1996. "Trade and Search: Social Capital, Sogo Shosha, and Spillovers," NBER Working Papers 5618, National Bureau of Economic Research, Inc.
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