The services economy: Service sector growth and the information society

The services economy: Service sector growth and the information society Phuah Eng Chye (16 September 2017) I have tried to cast new light on the role of the service sector as the main engine of growth in an economy. In this regard, one common error is to apply the planning model used for an industrial … “The services economy: Service sector growth and the information society”

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The services economy: Policy challenges and the Japanese experience

The services economy: Policy challenges and the Japanese experience Phuah Eng Chye (9 September 2017) The significance of the transition from manufacturing to services has never been fully grasped in economic policies. The decline of the manufacturing sector share of GDP marks the passing of the economic leadership baton to the services sector. The services … “The services economy: Policy challenges and the Japanese experience”

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The services economy: Comparing the manufacturing and service paradigms

The services economy: Comparing the manufacturing and service paradigms Phuah Eng Chye (2 September 2017) The share of the manufacturing sector has been falling and that of services has been rising for decades in many advanced countries. Services is the dominant sector in advanced economies. Yet the services sector is often treated as a poor … “The services economy: Comparing the manufacturing and service paradigms”

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The services economy: Revisiting Baumol’s cost disease

The services economy: Revisiting Baumol’s cost disease Phuah Eng Chye (26 August 2017) If we are to meet the growth challenges of the future, the answer isn’t likely to lie in creating more manufacturing plants and jobs. The answer must lie in how we are able to harness and manage growth in the services sector; … “The services economy: Revisiting Baumol’s cost disease”

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The services economy: Deindustrialisation & global unbundling

The services economy: Deindustrialisation & global unbundling Phuah Eng Chye (19 August 2017) The greatest challenge ahead is not how manufacturing is being hollowed out in developed countries but rather how technology is changing the traditional role of manufacturing in global economic development. Noting long-standing beliefs that economic advancement occurs through industrialization, Ejaz Ghani and … “The services economy: Deindustrialisation & global unbundling”

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The services economy: Macroeconomic overview

The services economy: Macroeconomic overview Phuah Eng Chye (12 August 2017) The transition to an information society begins with the ascendency of the services sector. As output becomes increasingly intangible, the services sector supplants the manufacturing sector as the main contributor to the economy. The manufacturing sector then hollows out with its share of GDP … “The services economy: Macroeconomic overview”

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