Services Development and Comparative Advantage in Manufacturing

Variables

Variable Description

Obs

Mean

S.D.

Min

Max

RCA

RCA based on manufacturing domestic value added (DVA) in gross exports

6,734

1.112

1.037

0.000

12.507

SII_f (U.S.)

ratio of U.S. embodied domestic financial (f) services to U.S. manuf. total value added (totva)

6,734

0.036

0.024

0.004

0.100

SII_b (U.S.)

ratio of U.S. embodied domestic business (b) services to U.S. manufacturing totva

6,734

0.109

0.074

0.011

0.309

SII_fb (U.S.)

ratio of U.S. embodied domestic financial & business (fb) services to U.S. manuf. totva

6,734

0.145

0.098

0.014

0.406

SII_f (U.S. avg.)

average U.S. SII_f over 1995-2007

6,734

0.035

0.023

0.005

0.080

SII_b (U.S. avg.)

average U.S. SII_b over 1995-2007

6,734

0.107

0.068

0.013

0.215

SII_fb (U.S. avg.)

average U.S. SII_fb over 1995-2007

6,734

0.142

0.089

0.018

0.294

SII_f 

country's own SII_f, time-varying

6,704

0.026

0.031

0.000

0.530

SII_b 

country's own SII_b, time-varying

6,704

0.044

0.044

0.000

0.352

SII_fb 

country's own SII_fb, time-varying

6,704

0.070

0.062

0.000

0.559

forsh_f

share of embodied foreign financial services in total embodied domestic & foreign F services

6,674

0.416

0.192

0.036

0.999

forsh_b

share of embodied foreign business services in total embodied domestic & foreign B services

6,674

0.496

0.207

0.076

1.000

forsh_fb

share of embodied foreign F&B services in total embodied domestic & foreign F&B services

6,674

0.450

0.188

0.066

0.999

D_f  (VA/GDP)

share of financial services totva  among a country's GDP

6,734

0.056

0.035

0.012

0.289

D_b  (VA/GDP)

share of business services totva among a country's GDP

6,734

0.069

0.031

0.011

0.154

D_fb  (VA/GDP)

share of financial & business services totva among a country's GDP (= D_f  + D_b)

6,734

0.125

0.050

0.036

0.391

D_f  (VA/worker)

services value added per worker for financial services sector (in thousand USD)

6,720

4.053

0.807

1.607

5.882

D_b  (VA/worker)

services value added per worker for business services sector (in thousand USD)

6,720

3.407

0.828

0.871

5.091

D_fb  (VA/worker)

services value added per worker for financial & business services sectors (in thousand USD)

6,720

3.649

0.776

1.244

5.352

D_f1

Alternative measure 1 for D_f = ratio of bank private credit to GDP

6,300

0.693

0.457

0.072

2.010

D_f2

Alternative measure 2 for D_f = (Bank Private Credit + Stock market capitalization)/GDP

6,202

1.216

0.767

0.086

4.072

log(GDP/capita)

log(GDP/capita)

6,734

9.788

0.714

7.357

11.363

TFP

manufacture TFP estimated by the dual approach

5,686

-0.001

0.446

-4.282

4.656

log(emp)

log(manufacture employment)

6,704

4.070

2.026

-5.717

9.749

SKratio

Skill ratio = payment to high skill workers / payment to all workers (in manufacturing sectors)

6,734

0.200

0.091

0.028

0.631

K/L

capital/labor ratio in manufacture

6,697

0.932

1.917

-0.876

62.323

rwage

Relative wage = average wage per worker in a country / world average wage per worker

6,704

0.964

4.671

0.000

75.502

GVA Participation

GVC participation index based on forward linkage 

6,704

0.304

0.196

0.000

3.870