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”

Read More

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”

Read More

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”

Read More

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”

Read More