MACRO AND MICRO DETERMINANTS OF TRADE IN SERVICES: THE CASE OF BRITISH SERVICE TRADERS
Öz
This paper focuses on the macro and micro-level
determinants of trade in services in the United Kingdom. The importance of different
determinants has been investigated within the gravity framework in many
studies. However, the nature of the data requires estimation approaches other
than the Ordinary Least Squares (OLS). To estimate the gravity equation,
besides the OLS, the Poisson Pseudo-Maximum Likelihood (PPML) and Threshold Tobit have been used. The results confirm that,
among the three different estimation approaches, the PPML is the preferred
model since it is able to deal with the existence of zero trade values and
heteroskedaticity problem in the data. The findings based on the disaggregated
level data show that the coefficients of the trade determinants change
considerably, suggesting that the policies adopted according to the results of
the country-level analyses do not fit all of the trading firms.
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Türkiye
Yayımlanma Tarihi
31 Aralık 2017
Gönderilme Tarihi
10 Aralık 2017
Kabul Tarihi
28 Aralık 2017
Yayımlandığı Sayı
Yıl 2017 Cilt: 15 Sayı: 1