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Anirudh Shingal

The proliferation of preferential trade agreements in services (services PTAs) and the improved availability of data on bilateral services trade flows have resulted in a growing literature on the theoretical and empirical assessment of services trade effects. However, this literature has not considered the different types of provisions found in services PTAs while estimating trade effects. We address this issue by taking into account the heterogeneity of provisions found in services PTAs. Our results suggest that accounting for this heterogeneity reduces the magnitudes of the estimated trade effects. This finding is robust to estimations involving only positive and those incorporating zero trade flows as well as to sample coverage (all, EU, non-EU, North-North, North-South).

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Anirudh Shingal

With an increasing number of preferential trade agreements (PTAs) covering trade in services, this chapter explores the empirical impact of PTAs on services trade. To the best of our knowledge, this is the first attempt in the literature that endogenizes the impact of services preferentialism in estimating trade effects and also looks at anticipation effects. The chapter also adds to the literature by distilling the trade effects of PTAs into those emanating from services and "goods only" agreements and further confirms complementarities between the two. The results suggest a trade effect of 15% from having a services accord alone, while the total incremental impact of a "goods only" agreement is found to be 7.6%. The services trade effect increases to 59.7% once anticipation effects of services accords are included and such analysis also suggests that services agreements seem to have a significant "announcement or signalling effect". Key words: Services trade, PTAs, gravity model, endogeneity, North-South agreements JEL Classification: F10, F13, F15

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Edited by Pierre Sauvé and Anirudh Shingal

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Pierre Sauvé and Anirudh Shingal

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Pierre Sauvé and Anirudh Shingal

This chapter takes stock of the forces that lie behind the recent rise of preferentialism in services trade. Its initial focus is on a number of distinguishing features of services trade that sets it apart from trade in goods and shapes trade liberalization and rule_making approaches in the services field. The chapter then documents the nature, modal and sectoral incidence of the trade and investment preferences spawned by PTAs in services. It does so with a view to addressing the questions of whether and how the preferential treatment of services trade is truly preferential in character and effect. Finally, the chapter addresses a number of considerations arising from attempts to multilateralize preferential access and rule_making in services trade.

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Edited by Pierre Sauvé and Anirudh Shingal

The book’s core focus is on comparative scholarship, directing attention to the substantive features of services PTAs around the globe and exploring the iterative nature of rule-making and market opening in a still nascent field of trade diplomacy. It advances a number of ideas on how to multilateralize PTA advances in services and takes stock of the likely impact on the WTO system of ongoing attempts at crafting a plurilateral agreement on trade in services.