Download ARTNeT CONFERENCE Parallel Session 3:

ASIA-PACIFIC RESEARCH AND TRAINING NETWORK ON TRADE
ARTNeT CONFERENCE
ARTNeT Trade Economists’ Conference
Trade in the Asian century - delivering on the promise of economic prosperity
22-23rd September 2014
Parallel Session 3:
Services trade and links to global value chains
www.artnetontrade.org
OECD SERVICES TRADE
RESTRICTIVENESS
INDEX (STRI)
Trudy Witbreuk, OECD, Trade & Agriculture
What is the STRI?
A regulatory database
» Information sourced from laws and regulations in place
(currently covers more than 16000 laws and regulations)
» Verified and peer reviewed by governments, frequently updated
» Available online, highly interactive
Composite indices
» A snapshot of trade restrictiveness, 18 sectors across 40 countries
» STRIs take values between zero and one, one being the most restrictive
Why the STRI?
Services shares, OECD average
Employment
GDP
FDI inflows
VA exports
Gross exports
0%
20%
40%
60%
80%
100%
STRI sector coverage
»
»
»
»
Computer services
Construction
Distribution
Financial services
› Commercial banking
› Insurance
» Professional services
›
›
›
›
Accounting
Architecture
Engineering
Legal services
» Telecommunications
» Transport
›
›
›
›
›
Air
Maritime
Rail
Road
Courier
» Audiovisual services
› Motion pictures
› broadcasting
› sound recording
STRI legal services
1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
Restrictions on foreign entry
Restrictions to movement of people
Other discriminatory measures
Barriers to competition
Regulatory transparency
Average
STRI Telecoms
1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
Restrictions on foreign entry
Restrictions on the movement of people
Other discriminatory measures
Barriers to competition
Regulatory transparency
Average
STRI Commercial banking
1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
Restrictions on market entry conditions
Restrictions on the movement of people
Other discriminatory measures
Barriers to competition
Regulatory transparency
Average
ZAF
USA
TUR
SVN
SWE
SVK
RUS
PRT
POL
NZL
NOR
NLD
MEX
LUX
KOR
JPN
ITA
ISL
ISR
IRL
IND
IDN
GRC
HUN
GBR
FRA
FIN
ESP
EST
DNK
DEU
CZE
CHL
CHN
CHE
CAN
BRA
BEL
AUT
AUS
0
STRI (average, minimum and maximum
scores by sector)
1
0.9
0.8
0.7
0.6
0.5
0.4
Minimum
h
Maximum
0.3
0.2
0.1
0
Average
Countries with high regulatory barriers import
less, but also export less services
Estimated growth in trade from lowering the STRI
8%
7%
Imports
6%
5%
Exports
4%
3%
2%
1%
0%
Air
Legal services
Insurance
Banking
Services trade restrictions matter for
services performance in banking…
Domestic credit to private
sector by banks (% of GDP)
Net interest margin
140%
5.0%
4.5%
120%
4.0%
100%
3.5%
3.0%
80%
2.5%
60%
2.0%
1.5%
40%
1.0%
20%
0.5%
0%
0.0%
Low STRI
Medium STRI
High STRI
Low STRI
Medium STRI
High STRI
….In transport…
Road transport and STRI
10
0
0
5
5
Days
Days
10
15
15
20
Maritime transport and STRI
Low_STRI
Middle_STRI
time for imports
High_STRI
time for exports
Low_STRI
Middle_STRI
time for imports
High_STRI
time for exports
And in telecoms…
1
0.9
0.8
STRI telecoms
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
0
10
20
30
40
50
60
70
Internet subscribers per 100 inhabitants
80
90
100
Water in the GATS (average across 12 sectors)
1
0.9
Level of trade restrictiveness permitted by the
GATS (bound level)
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
Actual level of trade restrictiveness (STRI)
Concluding comments
» The STRI provides a snapshot of individual countries,
relative to average and best practise
» Allows countries to benchmark,
» …trade negotiators to target bottlenecks,
» …and firms to identify requirements to enter new
markets
» The STRI does not prescribe generic solutions,
» …but helps governments to identify opportunities to
improve their services policy performance.
More information
For more information, please visit
http://oe.cd/stri
and get free access to STRI analysis & tools including
›
40 country notes
›
The compare your country tool
›
18 sector notes
›
An interactive policy simulator
›
A policy brief in English
and Japanese
›
Our comprehensive regulatory
database