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The structural and historical relevance of services in Uruguay. A long run approach (1870-2020)

Author

Listed:
  • Carolina Román

    (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía)

  • Henry Willebald

    (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía)

Abstract

Services currently play a prominent role in Uruguay's productive structure, constituting approximately two-thirds of GDP. This empirical observation has led to various arguments that Uruguay is now primarily a service-based economy. However, this characterization is not recent. By the mid-20th century, the gross value added (VA) from services accounted for over 55% of GDP. Moreover, historical analysis widely recognizes several service activities as key drivers of economic development since the 19th century. Despite this historical recognition, the absence of systematic measures of the VA of services has hindered studies on the evolution of "non-material" activities and their significance for economic growth. This article aims to address this gap by providing VA estimates to cover a comprehensive period from 1870 to 2020. We analyze the long-term evolution of services, particularly how they challenge the traditional three-sector hypothesis. Additionally, we explore the sector's transformations—from services closely tied to material production to those increasingly linked with urbanization and sophisticated consumption patterns.

Suggested Citation

  • Carolina Román & Henry Willebald, 2024. "The structural and historical relevance of services in Uruguay. A long run approach (1870-2020)," Documentos de Trabajo (working papers) 24-09, Instituto de Economía - IECON.
    • Handle: RePEc:ulr:wpaper:dt-09-24
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    File URL: https://hdl.handle.net/20.500.12008/45370
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    More about this item

    Keywords

    National accounts; Uruguay; Services; Structural change; Economic growth;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • N76 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Latin America; Caribbean

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