Economics, Econometrics and Finance
3 years ago

Regional Trade Agreements Breaking Down Barriers to Boost Economic Growth.

OECD trade policy working papers
Services Trade Restrictiveness Index (STRI)
Sebastian Benz, Inese Rozensteine

Paper Summary

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The Services Trade Restrictiveness Index (STRI) shows that recent trade agreements are reducing barriers to services trade, opening up markets and making rules clearer. These agreements are removing between 10% and 40% of restrictions on services, and are making stronger commitments than before. Compared to the General Agreement on Trade in Services (GATS), these agreements are eliminating between 40% and 70% of limitations. This means that national and collective efforts to reform and liberalize services will help boost the economy for everyone.