Comparative Analysis Of Influences Of The BRICS' Services Trade To Economic Growth

As the emerging economics,BRICS' economies are developing rapidly,whose economic growths and developments have become a hot issue to many economic scholars.International trade allows countries through product imports to meet the demand of their countries and product exports to increase the domestic output,which can promote economic developments.The focus on international trade in recent decades slowly expanded from tangible goods to intangible services trade which is the services trade.Whether it can have an impact on economic growth and how to impact on are a hot issue.BRICS' economies are in transition,whose economic development needs a strong driving force.This paper aims to find a new impetus of economic growth through researching the influence of trade in services for economic growth,striving to overcome the challenges on the road to sustainable development.This paper uses qualitative and quantitative analysis based on domestic and foreign literatures.On one hand,the article analyzes the theoretical foundation about the influences and the route.On the other hand,the article based on 1994?2014 panel data does empirical test about their relationship applying measurement methods.This paper is divided into five parts:The first part is introduction,which introduces the background,significance and the main content,and combines the literature review at home and abroad.The second part is theoretical analysis.It summarizes the theoretical foundation about the influences.Then it analyzes the route of the influences.The third part is descriptive analysis.It describes the developing situation of the services trade in BRICS,which is dissertated from the services trade's development scale,the structure and the competitiveness.The fourth part is empirical test.It based on 1994?2014 panel data does empirical test.Its result shows that services trade plays a positive role in economic growth as a whole.Then it does a separate study of five countries respectively,and compares the different influences between BRICS.The fifth part is the conclusions and recommendations.It combines the whole article,and makes recommendations adapting to Chinese services trade based on its status quo.The study found:there is an imbalance of the services trade in BRICS' development;the level of competitiveness does not match the scale of the trade in services;the trade in services plays a positive role in economic growth and there are different influences between five countries.