Publication:
Services-Led Growth: Better Prospects after the Pandemic?

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dc.contributor.authorNayyar, Gaurav
dc.contributor.authorDavies, Elwyn
dc.date.accessioned2023-03-28T19:43:55Z
dc.date.available2023-03-28T19:43:55Z
dc.date.issued2023-03-28
dc.description.abstractThe service sector accounted for two-thirds of economic growth in emerging market and developing economies over the past three decades. It consists of a wide range of activities, ranging from high-skilled offshorable services, such as information and communications technology (ICT) and professional services, to low-skilled “contact” services, such as retail and hospitality. The pandemic disrupted many low-skilled contact services that typically require face-to-face interactions between providers and consumers. High-skilled offshorable services were the least affected owing to the use of digital technology that enabled remote delivery. Increased digitalization has improved prospects for scale economies and innovation in the service sector that were previously constrained by the need for physical proximity and the lack of opportunities to augment labor with capital. Policies to support the diffusion of digital technologies could therefore further raise the growth potential of the service sector. Policies to improve market access for, and skills in, ICT and professional services could ease important constraints on growth opportunities in these high-skilled offshorable services that have best withstood the pandemic. The same holds true for policies, including regulatory reforms, that promote investment in low-skilled contact services, such as transportation, which have important linkages with the wider economy.en
dc.identifierhttp://documents.worldbank.org/curated/en/099820203272339879/IDU00fd3d9af0140b044210aa5a0aebfaf2f92ba
dc.identifier.doi10.1596/1813-9450-10382
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39609
dc.languageEnglish
dc.language.isoen
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Papers; 10382
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectSERVICE SECTOR
dc.subjectCOVID-19 PANDEMIC IMPACT ON SERVICE SECTOR
dc.subjectGROWTH
dc.subjectDIGITALIZATION
dc.subjectEMERGING MARKET GROWTH
dc.subjectMARKET ACCESS POLICY
dc.subjectOFFSHORING SERVICES
dc.titleServices-Led Growthen
dc.title.subtitleBetter Prospects after the Pandemic?en
dc.typeWorking Paper
dspace.entity.typePublication
okr.crossref.titleServices-Led Growth: Better Prospects after the Pandemic?
okr.date.disclosure2023-03-27
okr.date.lastmodified2023-03-27T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099820203272339879/IDU00fd3d9af0140b044210aa5a0aebfaf2f92ba
okr.guid099820203272339879
okr.identifier.doi10.1596/1813-9450-10382
okr.identifier.externaldocumentum34029551
okr.identifier.internaldocumentum34029551
okr.identifier.reportWPS10382
okr.import.id278
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099820203272339879/pdf/IDU00fd3d9af0140b044210aa5a0aebfaf2f92ba.pdfen
okr.region.geographicalWorld
okr.topicPoverty Reduction::Employment and Shared Growth
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicInternational Economics and Trade::Trade and Services
okr.unitProspects Group (DECPG)
okr.unitEFI - Prospects Group (EPGDR)
okr.unitEFI-FCI-TIC-Global Dir. (ETIDR)
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