The project aims to get a better understanding of the nature and the extent of the factors that determine cross-border trade in services in the APEC region. By reviewing the economic implications of trade in services for APEC member economies and the policies affecting international trade in services, the report highlights areas and sectors in which policy reforms could have particularly large payoffs, also suggests that gains from reforms in services markets may be even greater than those for goods markets. The report also shows the relevance of these measures as factors contributing into the overall development pathway in the APEC region.

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1. INTRODUCTION AND PROJECT OVERVIEW
A. THE ECONOMIC IMPORTANCE OF SERVICES
B. GLOBALIZATION OF SERVICES IN THE ASIA-PACIFIC
C. POLICY QUESTIONS AND PROJECT OBJECTIVES
D. OUTLINE OF THE REPORT
 

2. ECONOMIC IMPLICATIONS OF TRADE IN SERVICES FOR APEC MEMBER ECONOMIES
A. INTRODUCTION
B. DIRECT ECONOMIC GAINS FROM SERVICES TRADE
C. SPILLOVER EFFECTS OF SERVICES TRADE: PRODUCTIVITY AND GROWTH
D. ECONOMIC EFFECTS OF SERVICES OFFSHORING
E. CONSOLIDATION: THE ECONOMIC GAINS FROM SERVICES TRADE AND LIBERALIZATION
 

3. POLICIES AFFECTING INTERNATIONAL TRADE IN SERVICES
A. AGGREGATE PERFORMANCE: A COMPARATIVE PERSPECTIVE
B. SECTORAL ANALYSIS OF SERVICES POLICIES IN APEC
C. CONSOLIDATION: POLICIES AFFECTING SERVICES TRADE IN THE ASIA-PACIFIC
 

4. DETERMINANTS OF CROSS-BORDER TRADE IN SERVICES IN APEC
A. THE GRAVITY MODEL OF TRADE
B. SUMMARY OF EMPIRICAL RESULTS AND INTERPRETATION
 

5. CONCLUSION AND POLICY IMPLICATIONS