- PREST/CRIC Studies in Science, Technology and Innovation series
Edited by Marcela Miozzo and Ian Miles
Chapter 3: The Internationalization of European Services: What Can Data on International Services Transactions Tell Us?
3. The internationalization of European services: what can data on international services transactions tell us? Paul Baker, with Marcela Miozzo and Ian Miles INTRODUCTION This chapter examines the trends and patterns in trade and foreign direct investment (FDI) among services in the European Union (EU).1 The continuing liberalization of services, the creation of the EU internal market and, more recently, the introduction of the single currency are adding to the pressures restructuring service sectors. Around the world, the competitive environment for service ﬁrms is changing. As barriers to cross-border trade and foreign investment are reduced, ﬁrms can compete in wider markets, outside their home location. With growing market size, the possibilities for economies of scale and scope also grow. Combined with the internationalization of client industries, these changes are resulting in growth in services trade and investment on a world scale. These developments in the international environment, together with the important developments in new information and communication technologies, suggest an intensiﬁcation in the process of internationalization of services. But so far neither the mechanisms by which this is achieved nor the approaches adopted by individual ﬁrms have been explored in detail. This chapter examines the available statistical evidence on international services transactions. The ﬁrst section describes the developments underlining the increasing internationalization of services. The second section classiﬁes the diﬀerent types of international services transactions and the available data sources. The third section explores the implications of internationalization of services for growth and competitiveness. The fourth...
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