International Trade In Services Research Articles

INTERNATIONAL TRADE IN SERVICES IN THE CONTEXT OF THE DEVELOPMENT OF THE NATIONAL BRAND OF UKRAINE

Objective. To determine the relationship between international trade in services and the development of the national brand of Ukraine, to develop practical recommendations that will enhance the recognition of our country in the world and better integrate it into the global economic space. Methodology. The methodological basis of the scientific research on international trade in services in the context of the development of the national brand of Ukraine includes government documents, the experience of domestic and foreign scientists, statistical materials from the State Tourism Development Agency in Ukraine, etc. The authors of the research propose a set of recommendations for the successful integration of Ukraine into the global economic space, including through a strong national brand. Results. The scientific research on this topic involved the analysis and interconnection of a range of international services that influence the brand of Ukraine and ensure a higher level of integration of our country into the global economic space. Scientific novelty. The authors believe that the development of the national brand of Ukraine in times of war is an additional strategic resource in shaping the image of our country as a tourist destination and a country with new opportunities for social development, an influential international player on the world stage, with new brand attributes. Practical significance. The implementation of new trends in the development of international trade in services, including the development of the tourism sector, creates new conditions for updating the national brand of Ukraine, stimulates foreign investment, consolidates global support for Ukraine, which will be one of the factors contributing to the growth of the value of the "Ukraine" brand in the future and its socio-economic development.

Switzerland in international trade in goods and services

The Swiss economy is highly integrated into the international economy and the country benefits from an open trade regime for manufactured goods. The priority directions of Switzerland’s foreign economic policy are assistance with the entry of Swiss companies into international markets and the subsequent development of economic ties with the EU. In the article, the author examines Switzerland as a participant in international trade.

Trade in services related to intangibles and the profit shifting hypothesis

This paper focuses on the international trade in services related to intangible assets and intellectual property products (IPP), and it explores to what extent they might be used as a channel to shift the profits of multinational firms to tax havens. Using survey data on Italian firms, we first provide a geographical and sectoral analysis of Italy's trade in IPP services. We then estimate the amount of profit shifted abroad by foreign‐owned firms in our sample, applying at various levels of aggregation a methodology recently put forward in the literature. Finally, we look for a correlation at the firm level between estimated shifted profits and imports of IPP services. We find that while the overall correlation is very low, there is a small cluster of firms displaying a positive correlation between these two variables.

Impact of terror on international trade in financial services: Does the development of financial institutions matter?

AbstractWe examine the impact of terror on international trade in financial services and the role of financial institutions in alleviating this impact. Using a sample of 67 countries from 2000 to 2020, we find that a 10% increase in the number of terrorist incidents in the importer and/or the exporter results, on average, in a 1.77–2.05% annual reduction in their bilateral financial service trade which is more economically significant than what has been documented for trade in commodities. Top exporters and importers of financial services, however, are less affected by the incidence of terrorism. Confirming the critically important role of systemic stability, we further find that financial institutions' stability (measured by the Z score) is the most powerful factor in mitigating the detrimental impact of terrorism on trade. There is also some limited evidence that exporting countries where financial institutions exhibit more efficiency (measured as the ratio of overhead costs to total assets) cope better with terrorism.

ГАСТРОНОМІЧНА СПАДЩИНА ЯК МЕХАНІЗМ ЗБЕРЕЖЕННЯ НАЦІОНАЛЬНОЇ ІДЕНТИЧНОСТІ УКРАЇНЦІВ

The article examines the concepts of "identity" "national identity", "European identity", gastronomic heritage. In the conditions of transformation of global economic relations international trade in services offers research and implementation of tourist services to meet the demand of various categories of consumers. Gastronomic tourism is one of the options for recreation in modern conditions. The catalog of the gastronomic heritage of the cultural and pilgrimage route "Camino Podolico" of the cultural and educational route from Vinnytsia to Kamianets-Podilskyi similar to the Ways of St. James leading to the city of Santiago de Compostela. The route connects 13 points of Vinnytsia and Khmelnytskyi regions. It allows you to plan a walking or cycling trip with the necessary infrastructure for food and overnight stays every 20–25 kilometers. The uniqueness of the Camino Podolico lies in the fact that it passes through the most picturesque places of eastern Podillia. In the first part of it travelers have the opportunity to walk along the picturesque banks of the Southern Bug and Riv rivers. The route popularizes communities in Vinnytsia and Khmelnytskyi regions as a tourist attraction among domestic and foreign tourists and creates the necessary conditions for the development of local businesses. Moreover an electronic track of the route which is constantly being improved. Everyone who completes the route on foot or by bicycle will receive a passport for markings at the beginning of the route and a certificate of completion. "Camino Podolico" is implemented by territorial communities of Vinnytsia and Khmelnytskyi regions and DART. The catalog is a bilingual edition containing 22 recipes of unique dishes collected in 11 communities of Vinnytsia and Khmelnytskyi. Kamianets-Podilskyi is the final point on the Camino Podolico where we explored the intangible cultural heritage of communities. It is also planned to study and prospects of the development of tourism during the war and the mechanisms of the post-war recovery of the industry which were determined at the 1st National Tourism Summit.

МАРКЕТИНГ ПОСЛУГ У КОНТЕКСТІ ГЛОБАЛЬНОГО РИНКУ ПОСЛУГ

The article explores that in the context of economic globalization, the world services market is developing more dynamically than other segments, and today is at the stage of active formation. According to the United Nations Conference on Trade and Development, global services exports were valued at $7.1 trillion in 2022, representing 7.1% of global GDP and 23% of total global trade in goods and services. At the same time, the domestic service system collapsed as a result of hostilities, and international trade in services was virtually destroyed. It is substantiated that one of the effective tools that provides companies with the prerequisites for obtaining competitive advantages in the global market is effective marketing of services. It has been established that the specificity of marketing activities in the service sector is determined by the characteristics of services (intangibility, inseparability of production and consumption, lack of stability, impossibility of storage and accumulation). It has been proven that successful operation of a company in the services market is impossible without a marketing strategy. Based on F. Kotler's service marketing triangle, the structure of relations between stakeholders involved in the development and implementation of the marketing strategy of a service sector company has been studied. It has been established that external marketing reflects the interaction between the company and consumers, internal – between the company and its employees, interactive – between employees and consumers of services. Attention is focused on the fact that in the context of the globalization of service markets, along with a strategy aimed at external consumers, the company is developing a strategy aimed at internal consumers (internal marketing) and effective interaction between company personnel and the client in the service process (interactive marketing). Strategies for each element of the overall service marketing strategy are characterized: product, its price, place of sale, promotion, people, process and physical environment (the "7P" mix-marketing). It is noted that digital technologies open up wide business opportunities for companies on the global market.

Dominant Currency Pricing in International Trade of Services

Dominant Currency Pricing in International Trade of Services

МІЖНАРОДНИЙ БІЗНЕС В УМОВАХ ТУРБУЛЕНТНОСТІ ГЛОБАЛЬНОЇ ЕКОНОМІКИ

The article is devoted to the study of trends in the evolutionary changes of international business in the context of global economic turbulence. It is established that the global economy is currently at the stage of turbulent fluctuations, the factors and at the same time the results of which are the strengthening of new features that are almost polar to the attributes of the economy of the past decade. The turbulence of the global economy provokes relevant trends in the development of international business: a decrease in the rate of scaling of the international companies activities; comprehensive digitization of business processes; reformatting of global chains of value formation in terms of length, fragmentation and localization; strengthening cyber security and information protection in order to minimize financial and reputational risks; the growth of e-commerce; multichannel communications with consumers; increasing the social responsibility of international companies and increasing investments in sustainable development; increasing the value of human capital and permanent modernization of the international companies HR management. Artificial intelligence and human creative capital are becoming the identifying carrier of globalization changes, which is a source of innovative efficiency of international business processes and a critical factor for sustainable development. This stimulates a steady increase of investment in the development of artificial intelligence and its implementation in international business practices. Artificial intelligence has become a factor in the development of traditional economic sectors and a driver of the creative economy as a new global phenomenon. It is established that the growth of the creative economy is characterized by the disparity between countries with different levels of development in international trade in goods and services of creative industries: a clear dominance of developed countries in the services segment and a dynamic increase in the contribution of developing countries in the segment of creative goods. On a global scale, artificial intelligence is not limited to international business and is being actively integrated into the process of developing and implementing sustainable development strategies.

The Role of Tourism in the Development of Afghanistan

Tourism is recognized as a tool for development and has limitless growth potential. The tourism environment encompasses economic, social, and cultural factors and plays a vital role in the natural environment. Achieving sustainable tourism, which is linked to managing and preserving natural resources, is of utmost importance. This article utilizes credible sources to examine the role of tourism in sustainable development in Afghanistan. Given the significance of the tourism industry, this research aims to draw attention to the importance of tourism in Afghanistan's development. The primary research question revolves around how we can harness the potential of the tourism industry for Afghanistan's development. For this research, a descriptive-analytical method and literature reviews have been employed, with meticulous collection and analysis of reputable sources such as scholarly articles, books, reports, case studies, and relevant databases. The findings of this research indicate that due to Afghanistan's diverse cultural and environmental attractions, tourism can play a crucial role in sustainable development. This industry can contribute to economic growth, increased government tax revenue, enhanced international trade and export of tourism services, infrastructure improvement, job creation, environmental preservation, and cultural heritage conservation. It can also improve the economic conditions of women and promote handicraft industries. In conclusion, this research suggests that adequate measures are necessary to promote the sustainable growth of tourism in Afghanistan. Precise planning, a deep understanding of natural and cultural resources, environmental preservation, education, and employment generation should all be prioritized. Furthermore, promoting tourism requires shared responsibility from the government, local communities, and the tourism industry.

Sustainable Trade: Evolution and Trends in Digital Trade Research in China

Objective: This paper focuses on a review of research on digital trade, a new type of trade that has emerged in China. Chinese academics consider digital trade as one of the most important means to promote sustainable trade development. Methods: Using Citespace, a literature visualization and analysis software, to do econometric visualization mapping of China's digital trade research field and to analyze the evolution path of China's digital trade research. Results: The article finds that there is a lack of cooperation between institutions and scholars in the field of digital trade research in China, and the research results are insufficient; the clustering of multilayered cross-cutting hot keywords, such as digital trade, digital economy, international trade, and trade in services, suggests that the research on China's digital trade is skewed towards macro-level research; the emergence of keywords with an extraction time slice of one year, and the appearance of 20 keywords, suggests that China's digital trade research field is progressively diversifying. Conclusion: The continuous improvement of the meaning of digital trade has led to the continuous transformation of China's trade forms, utilizing new trade connotations, enriching China's trade-related theories and practical innovation methods, and promoting the continuous development of trade-related research. Combined with the different stages of digital trade research, it is found that the intermediary effect of the digital economy and digital technology to promote cross-border e-commerce and the reform of the international trade system, as well as the platform economy, data flow, trade in services and other aspects of the practical application of the platform economy, data flow, trade in services and other aspects of the digital trade have fully proved that the digital trade can reduce the cost of trade, improve the value-added trade in services, and promote the transformation of international trade. However, there is currently a lack of research related to the sustainable development of trade in digital trade in Chinese academia.

Analysis of the evolution characteristics of international ICT services trade based on complex network

Digital technology has brought profound changes in the services trade, particularly accelerating the growth of the international Information and Communications Technology (ICT) services trade. Understanding the evolving characteristics of the ICT services trade is pivotal for trade participants to formulate effective policies and enhance their competitive advantages. This study used the data from UN COMTRADE to construct ICT services trade networks spanning from 2004 to 2020. Using complex network analysis methods, it delved into several aspects of ICT services trade, including trade patterns, trade relationships, and participating countries. The findings revealed that central countries in ICT services trade are progressively dominating trade relationships. Moreover, many countries in the middle and lower tiers of the ICT services trade system tend to engage in bilateral trade with major economies or form trade alliances with a select few nations. Examining the evolution of trade participants, early adopter countries such as the United States, Ireland, and the United Kingdom have solidified stable competitive advantages in ICT services trade. Building upon these findings, the study puts forth several recommendations to enhance the competitiveness of the ICT services trade. This study not only enriches the existing knowledge base on ICT services trade networks but also provides valuable insights for shaping policies in this domain. The outcomes offer crucial guidance for interpreting cooperation and conflicts within the realm of ICT services trade.

Italy in international trade of goods and services

International economic relations are a constantly developing and increasingly complex system. The economies of individual states can no longer be independent of the world economy. The article examines the Italian economy and its foreign trade in goods and services.

The Impact of Foundational AI on International Trade, Services and Supply Chains in Asia

ABSTRACTFoundational artificial intelligence (AI) is a general purpose technology that will affect economic activity across industries, with potentially significant impacts on jobs and international trade. This could include automation of routine and nonroutine white‐collar jobs, which reduces international trade where these jobs are on‐shored. However, where AI compliments existing jobs and leads to higher productivity, this could open up new opportunities for international trade in services. How foundational AI affects international trade will also depend on how it is regulated. Governments are moving to regulate AI, which could become a barrier to international trade. Geopolitics could also undermine opportunities for AI to deepen globalization and trade in AI as the USA and China restrict trade in the technology needed to build and run foundational AI systems. Regulating the impact of AI on international trade is an increasing focus in free trade agreements (FTAs) and digital economy agreements (DEAs). The World Trade Organization (WTO) Joint Statement Initiative (JSI) e‐commerce negotiations could also support trade in AI. Yet, there is much more that trade policy could do to minimize barriers to trade in AI.

International trade in educational services in the conditions of digital transformation

The article analyzes the methodological foundations of international trade in educational services and current trends in the development of the global education market. It was revealed that one of the key areas of development is the digitalization of the global education market. Digital academic mobility has been gaining popularity in recent years, especially in the conditions created by the Covid-19 pandemic. At the end of 2019 – beginning 2020, the education sector was shocked due to a sharp transition to the online format: neither teachers, nor students, nor schoolchildren in most countries of the world were ready for this. At present it can be concluded that the world has experienced the pandemic and people have adapted to the digital educational environment, but in many regions there is no Internet connection and not everyone has access to a computer, therefore there is a digital divide. According to the United Nations Sustainable Development Goals, by 2030 it is planned to provide all the inhabitants of the planet with quality education throughout their lives. In recent years a large number of EdTech companies have emerged competing for a leading position in the global online education market. Distance learning platforms allow people from all over the world to receive training in areas of interest to them. But in the era of digital transformation the issue of the problems and prospects for the development of the online education market is relevant.

A THIRLWALL’S LAW APPLICATION TO INTERNATIONAL TRADE IN SERVICES

The international trade in services has grown exponentially, both in developed and developing countries, outpacing the manufacturing growth. According to the literature, there are two waves of growth in the services sector: A first wave in developing countries specializing in traditional services; a second wave in developed countries and producers of modern services. Using the multisectoral Thirlwall’s law model for 90 countries, modern services have the highest income-elasticity. The role of relative prices is not significant. Also, the two waves of growth are verified. Countries that are more competitive in international services grow less relative to global growth but have a higher level of development. In less developed countries with a higher share in tourism exports, the higher the surplus of the balance of services, the lower the current account balance.

Research on the Countermeasures to Promote the Development of Education Service Trade in China

With the development of the economy, international trade globalization, and the improvement of people's living standards, coupled with the development of international trade globalization, education service trade has become an important part of the economy of various countries. Since China acceded to the WTO, the educational service trade has been effectively developed and made some achievements. It is worth mentioning that with the advent of the post-COVID-19 era, the global economy has begun to show new vitality, promoting the development of international trade in education services. Whats more, this paper uses the Porter diamond model, which facilitates the study of Chinese international education services trade competitiveness. On the basis of explaining the relevant theories of educational service trade, this paper focuses on analyzing the current situation and existing problems of educational service trade and puts forward targeted strategic choices. Finally, at the end of the thesis, there is a brief conclusion for the paper.

Exchange Rate Elasticities of International Tourism and the Role of Dominant Currency Pricing

In this paper, we estimate exchange rate elasticities of international tourism. Both the bilateral exchange rate and the U.S. dollar exchange rate relative to tourism origin countries are important drivers of tourism flows. The U.S. dollar exchange rate is more important for tourism destination countries with higher U.S. dollar borrowing, pointing toward a complementarity between U.S. dollar pricing and financing. Country-specific dominant currencies (CSDCs) play only a minor role on average but are important for tourism-dependent countries and those with a high concentration of foreign tourists. Consistent with dominant currency pricing, we also find that local hotel prices do increase strongly when the domestic currency depreciates against the U.S. dollar. The importance of the U.S. dollar exchange rate represents a strong piece of evidence of dominant currency pricing (DCP) in the international trade of services. The results suggest that the benefits of exchange rate flexibility for tourism-dependent countries may be weaker than previously thought and that a broad appreciation of the U.S. dollar is associated with a significant decline in tourism flows globally.

Productive specialization and integration in South America: A global input–output analysis

In the current context, where a large part of international trade in goods and services is linked to global production chains, the policy course to reap the gains from this trade differs according to the point of view adopted. While from a country’s point of view, the strategy is to join global production chains and upgrade to higher value-added activities, from the point of view of the regions, the new scenario offers opportunities to deepen productive integration. In the present paper, we aim to examine the role played by South America in global production chains and the potential for strengthening regional integration. We observe that considering extra-regional markets, the region maintains a pattern of specialization biased towards the export of primary commodities. However, intra-regional trade is based on more technologically complex sectors with favorable prospects for promoting regional production chains.

Exchange rate elasticities of international tourism and the role of dominant currency pricing

In this paper, we estimate exchange rate elasticities of international tourism. Both the bilateral exchange rate and the U.S. dollar exchange rate relative to tourism origin countries are important drivers of international tourism flows. The U.S. dollar exchange rate is more important for tourism destination countries with higher U.S. dollar borrowing, pointing to a complementarity between U.S. dollar pricing and financing. Country-specific dominant currencies (CSDCs) play only a minor role on average but are important for tourism-dependent countries and those with a high concentration of foreign tourists across origin countries. Consistent with the literature of dominant currency pricing (DCP), we also find that local hotel prices do increase strongly when the domestic currency depreciates against the U.S. dollar. The importance of the U.S. dollar exchange rate represents a strong piece of evidence of DCP in the international trade of services. The results suggest that the benefits of exchange rate flexibility for tourism-dependent countries may be weaker than previously thought and that a broad appreciation of the U.S. dollar can be associated with a significant decline in tourism flows globally.

ФОРМУВАННЯ ЦІН НА МІЖНАРОДНОМУ РИНКУ ФІНАНСОВИХ ПОСЛУГ

Specific features of international trade in services are considered; the features of the world market of services are defined; pricing methods and pricing strategies used by enterprises providing various services on the international market are characterized. The purpose of the research is aimed at researching the international market of financial services to analyze its main characteristics, impact on the global economy and identify key factors affecting its development and level of financial risk. Research methods: logical and meaningful method, methods of comparison, systematization, induction and deduction, analysis and synthesis, coefficient method. The main hypothesis of the research was the statement that the international market of financial services plays an important role in the global economy and its development depends on such factors as technological innovations, regulatory policy, globalization and the stability of financial systems. Presenting main material. All spheres of international cooperation need developed services, which are a continuation and development of modern production. The main features of the world services market include the following: systematic development, which means that the services market is considered as a complete system with many interconnected components; sensitivity to market changes, which is caused by constant fluctuations in the demand and supply of services on the market; high rate of capital turnover associated with a shorter production cycle in the service sector; constant growth of the range of services. The originality and practical significance of the research are in the understanding of the main characteristics of the international market of financial services, which will help specialists in the financial sector make informed decisions about the development and improvement of their services at the international level; analysis of the impact of the international financial services market on the global economy will enable states and international organizations to determine effective strategies to promote economic growth and stability; determining the key factors affecting the development of the international market of financial services will help to avoid financial risks and ensure the stability of financial systems. The practical significance of the article also lies in the promotion of academic research and expansion of knowledge in the field of finance, economics and international relations. Conclusions and prospects for further research. The results of the study can be useful for government bodies and regulatory institutions in forming an effective policy for regulating the international market of financial services and ensuring its healthy functioning. It was determined that the successful choice of the method of setting prices for international services and the formation of an effective price strategy will allow the enterprise of the service sector to receive high income, increase the volume of service provision, and conquer new market segments.