a column by Koen De Backer, Sébastien Miroudot and Davide Rigo for VOX: CEPR’s Policy Portal
Multinational enterprises that produce goods rely on services to organise their value chain, so barriers to investment in services are likely to affect their production.
The column uses a new and comprehensive OECD database to measure the share of services in the exports of multinational enterprises, and also in the output of their foreign affiliates. The results suggest that policymakers may need to focus more on the services that support manufacturing industries.
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I found the chart of “double counting” particularly interesting although I got lost in the statistical explanation.
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