| Nowadays,with the acceleration of global industrial structure adjustment and economic integration,especially the rapid development of information technology and the establishment of global trade regulations,service trade is experiencing a golden development period.According to statistics data from the International Monetary Fund(IMF)and the World Trade Organization(WTO),service trade has been in the fastest growth period ever since 2000,as global service trade exports exceeds $2 trillion in 2004,$3 trillion in 2007,$4 trillion in 2011 and has been up to $4.94 trillion in 2014.Annual growth rate of service trade exports has remained at nearly 10%from 2000 to 2014,besides the negative growth during the financial crisis.As a result,service trade has become the hot field of global trade competition and the competitiveness of service trade has become decisive index to measure domestic economic development level and the international competitiveness.Therefore,scholars at home and abroad begin to explores and test the relationship between service trade and economic growth,among which the growth effects of Export technical complexity of service trade has been a forefront and hot research with great theoretical and practical significance.At the same time,the world economy is undergoing complex and profound changes.As WTO trade regulation negotiations fails,many countries hasten to seek regional cooperation,in which the United States distinctively builds the Trans-Pacific Partnership Agreement(TPP)and the Trans-Atlantic trade and Investment Partnership Agreement(TTIP),aiming at establishing new rules of trade relations between Europe and Asia to grab the world economic dominance.Under such background,President Xi Jinping proposed initiatively a strategic plan to build a "Silk Road Economic Belt" in his important speech in Kazakhstan in September 7,2013,and in October of the same year,he made a clear proposal at the Congress of Indonesia to construct "the Maritime Silk Road in twenty-first Century"."The Belt and Road Initiative" is a grand economic strategy advocated by China to promote economic cooperation along the line,with the purpose of building broader and deeper regional cooperation based on project cooperation in the field of infrastructure interoperability,industry investment and energy development.Since the strategy has been put forward,the academia and some sectors of society have focused on how to make full use of the strategy to promote regional cooperation capacity and infrastructure construction,so as to drive regional industrial and technological upgrading by factors and products flow.Therefore,the study object is mainly the manufacturing industry and specific regional cooperation projects.However,as the whole world is competing in service trade and countries continue to introduce relevant measures to promote the domestic service sector to upgrade and optimize the industrial structure,"The Belt and Road Initiative" strategy should not only emphasis on infrastructure and production capacity cooperation,but also should accelerate to foster new economic growth point——service trade cooperation and upgrading in the region.Based on the spring up of global service trade and the strategic importance of"The Belt and Road Initiative" regional cooperation framework,this paper has constructed a measuring system to calculate service trade export sophistication index,referring to Hausmann et al.(2007)method,after giving a literature review on domestic and foreign research on service trade and analysis on the economic development along "The Belt and Road Initiative" in Asian countries.Export technical complexity of service trade is calculated by the use of Cross-country data sample of 15 Asian countries along "The Belt and Road Initiative" in 2005-2014,and the result shows that service trade Export technical complexity is now still at a low level but on the rising channel and product structure is constantly optimizing.Also,through the construction of the empirical model,this paper tests the growth effect of service trade Export technical complexity in the 15 Asian countries by fixed effects panel regression and generalized moment method(GMM),to find significant positive correlation between Export technical complexity and economic growth.The result still stands even when other explanatory variables are treated as control variables.So it is proved that the assumption that "the higher service trade export technology complexity is,the higher economic growth rate is" dose hold true in countries along "The Belt and Road Initiative";finally,on basis of empirical results,this paper has put forward some practical and feasible suggestions for reference to promote service trade development in countries along "The Belt and Road Initiative",so as to promote economic development and regional competitiveness in those countries. |
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