Structural Change: Do Services Substitute or Complete the Industry?

Ümit Gaberli

Makale detayları

Structural Change: Do Services Substitute or Complete the Industry?

Yazarlar:

Ümit Gaberli

Yayıncı:

Bursa Uludağ University

Ana Başlıklar:

Panel Veri Analizi | Büyüme | Kalkınma Ekonomisi - Makro

Dergi:

International Journal of Social Inquiry Vol.16 Issue 1, pp.29-46

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001292958

pISSN:

1307-8364

Anahtar kelimeler:

Özet:

 This study analyzes the nature of the relationship between the services and the industry, i.e., substitution or complementarity, given the increasing share of services tertiarization process in the world economy. The economies in the world evolved towards a services-dominated structure over a half-century. This evolution resulted in a decreasing industry share despite continuously increased industrial production. We used a dataset covering the 1970-2018 period for 173 countries to investigate this question by employing the panel vector of auto-regression analysis Panel VAR. We also approached the problem by estimating a dynamic panel data model by the two-step system GMM for robustness. The study also calculates the linkages between the industry and the services. The empirical results show that services do not substitute industry. There is a complementary role of the services for the industry, but the complementary role of the industry for services is ambiguous.

 This study analyzes the nature of the relationship between the services and the industry, i.e., substitution or complementarity, given the increasing share of services tertiarization process in the world economy. The economies in the world evolved towards a services-dominated structure over a half-century. This evolution resulted in a decreasing industry share despite continuously increased industrial production. We used a dataset covering the 1970-2018 period for 173 countries to investigate this question by employing the panel vector of auto-regression analysis Panel VAR. We also approached the problem by estimating a dynamic panel data model by the two-step system GMM for robustness. The study also calculates the linkages between the industry and the services. The empirical results show that services do not substitute industry. There is a complementary role of the services for the industry, but the complementary role of the industry for services is ambiguous.

 This study analyzes the nature of the relationship between the services and the industry, i.e., substitution or complementarity, given the increasing share of services tertiarization process in the world economy. The economies in the world evolved towards a services-dominated structure over a half-century. This evolution resulted in a decreasing industry share despite continuously increased industrial production. We used a dataset covering the 1970-2018 period for 173 countries to investigate this question by employing the panel vector of auto-regression analysis Panel VAR. We also approached the problem by estimating a dynamic panel data model by the two-step system GMM for robustness. The study also calculates the linkages between the industry and the services. The empirical results show that services do not substitute industry. There is a complementary role of the services for the industry, but the complementary role of the industry for services is ambiguous.

 This study analyzes the nature of the relationship between the services and the industry, i.e., substitution or complementarity, given the increasing share of services tertiarization process in the world economy. The economies in the world evolved towards a services-dominated structure over a half-century. This evolution resulted in a decreasing industry share despite continuously increased industrial production. We used a dataset covering the 1970-2018 period for 173 countries to investigate this question by employing the panel vector of auto-regression analysis Panel VAR. We also approached the problem by estimating a dynamic panel data model by the two-step system GMM for robustness. The study also calculates the linkages between the industry and the services. The empirical results show that services do not substitute industry. There is a complementary role of the services for the industry, but the complementary role of the industry for services is ambiguous.

Makale detayları

Structural Change: Do Services Substitute or Complete the Industry?

Yazarlar:

Ümit Gaberli

Yayıncı:

Bursa Uludağ University

Ana Başlıklar:

Panel Veri Analizi | Büyüme | Kalkınma Ekonomisi - Makro

Dergi:

International Journal of Social Inquiry Vol.16 Issue 1, pp.29-46

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001292958

pISSN:

1307-8364

Structural change

tertiarization

services

industry

de-industrialization

Sayı

Makale detayları

Structural Change: Do Services Substitute or Complete the Industry?

Yazarlar: Ümit Gaberli

Yayıncı: Bursa Uludağ University

Ana Başlıklar: Panel Veri Analizi | Büyüme | Kalkınma Ekonomisi - Makro

Dergi: International Journal of Social Inquiry Vol.16 Issue 1, pp.29-46

Belge Tipi: Makale

Yayın Tarihi: 6/2023

Belge Dili: İngilizce

Document ID (Org No.): 2001292958

pISSN: 1307-8364

Structural change

tertiarization

services

industry

de-industrialization

Sayı

Yazarlar:

Ümit Gaberli

Yayıncı:

Bursa Uludağ University

Ana Başlıklar:

Panel Veri Analizi | Büyüme | Kalkınma Ekonomisi - Makro

Dergi:

International Journal of Social Inquiry Vol.16 Issue 1, pp.29-46

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001292958

pISSN:

1307-8364