Comparative Studies On The Influence Of BRICS’ Service Trade To Economic Growth

With the development of the world economy and the optimization of industrial structure, Service Trade has been developed rapidly and plays an increasingly important role to enhance the efficiency of the national economy, pull GDP, promote employment, and optimize the industrial structure. Since the beginning of the21st century, the proportion of Service Trade is rising dramatically in the World Trade, becoming the driving force and engine of the global economic development. In this international context, Service Trade of the BRICS (Brazil, Russia, India. China. South Africa)showed rapid development. Trade scale of the BRICS is expanding, the international status is rising with a higher growth rate than the average. However, compared with the developed countries, there is a big gap among the BRICS’ Service Trade with a lower competitiveness, and there should be a great potential to promote economic growth.At present, the BRICS, the representatives of the emerging economies, are faced with economic transition. Then how to find new sources of growth and how to achieve sustainable growth are the main challenges needing to address. It is an inevitable trend to turn to a service-based economy and a trade structure symboled by service trade, which is an important way for transformation of trade and economic growth. So, to speed up the development of the service industry and trade in services is very important to ensure the BRICS’sustainably healthy economic growth. Moreover, with the international influence of the BRICS strengthening, expanding cooperation in the field of trade in services, as well as trading in services for mutual promotion, is a common choice of the BRICS to promote economic growth.Based on the background above, the study of service trade issue of BRICS has important significance.Moreover,the BRICS countries have held several meetings and made deep corporations in multi-field,beginning to come to the forefront on the world stage.Therefore, it is a trend to study the BRICS.Present domestic documents mainly concentrates on the relation between goods trade and economic growth. Even for the study of the service trade and economic growth,it is mostly about China,rarely focusing on the comparison with Brazil, Russia, India and South Africa.Therefore,the author chooses the connection between BRICS service trade and economic growth as research object,and on the basis of previous research achievements,adopts theoretical and empirical research methods to elaborate.This thesis not only analyzes the way how service trade promotes economic growth in theory,but also verifies the fact that BRICS service trade plays a role in promoting economic growth through econometric methods.The article attempts to clear out the degree of five countries’ service trade influencing economic growth respectively through the comparison of BRICS. And the thesis come up with suggestions on how to enhance corporation in service trade field combining with the current situations and the problems of BRICS service trade development.This paper is divided into five chapters,and the structure of the article is as follow:In chapter one,the author introduces the research background,significance of topic selection first,and then summarizes the domestic and foreign research in the relation of the service trade and economic growth.At last, it presents the research framework including the lack and the innovation.In chapter two, it mainly introduces the basic theory of the service trade promoting economic growth. It first details some basic related theory and then analyzes the way how service trade promotes economic growth in theory,which prove that service trade promotes economic growth more directly and specifically.In chapter three, it makes a comparative analysis of BRICS service trade development,which rely on lots of data to analyze service trade scale、structure and the competitiveness.In chapter four, it mainly focuses on the empirical research of the relationship between service trade and economic growth in BRICS. In this chapter, the service trade data and economic growth relevant data from1994to2010are selected to do the empirical research, and the relationship between service trade and GDP is inspected from the overall; then the paper will make typical of the department for empirical analysis,which study the export relationship with economic growth.This chapter has proved in a deeper way that service trade can promote economic growth.In chapter five, it includes main conclusion and suggestion. This chapter made conclusions based on the previous chapters of theory and econometric study, and also come up with suggestions to strengthen China service trade development.