DP19884 International financial openness and manufacturing productivity: A services trade perspective

Bogdan Hofbauer

We investigate the relationship between manufacturing sector productivity and two new measures proxying for barriers to trade in services – restrictions affecting payment for cross-border imports of services and receipts for inward investment. Our services trade policy proxies span the 1965-2018 period, a much longer time span than extant services trade restrictiveness indicators, allowing analysis of the pre-hyper globalization period as well as the post-global financial crisis years that has