A Study On The Efficiency Of American Trade In Service

In recent years,trade in services is playing a more and more important role in the development of national economy,and has gradually become the priority development goal of all countries.As the world's largest economy,the United States is a world leader in the development of trade in services.Therefore,the study of the influencing factors and efficiency of American service trade has important reference significance for the further development of China's service trade.Based on the existing literature and with the help of the service trade data of 44 major service trade participating countries in the world from 2006 to 2018,this paper systematically analyzes the characteristics of American service trade: service trade is in the leading level in the world;the import and export of service trade continues to expand,the trade surplus of service trade fills the deficit of trade in goods,the structure of trade in services is reasonable,and the new type of modern service trade has gradually become the main body of the national economy.Exports of trade in services are mainly developed economies and are increasingly linked to emerging economies.On this basis,this paper selects many indicators,such as the degree of dependence on service trade,international market share,trade competitive advantage index,revealed comparative advantage index,apparent competitive comparative advantage index and export technology complexity,and evaluates the development level of service trade in the United States and some sample countries.Empirical research shows that the degree of dependence on trade in services of the United States ranks among the sample countries,but its international market share ranks first in the world.American service trade,especially the modern new service trade such as financial services,patents and royalty services,occupies a great advantage in the international competition.The technical content of American service export products is high,and the export complexity of modern new service trade,such as financial services and insurance services,is high.In this paper,the stochastic frontier gravity model is used to analyze the bilateral service trade data between the United States and43 service trade partners.The results show that in the export model,the total amount of GDP,the population of partner countries,commercial freedom and trade freedom index can promote the export of US service trade,while the domestic population,distance between the two countries,language,cultural differences and investment freedom index can hinder the export of US service trade.In the import model,the total GDP of the two countries,their own population,business freedom and investment freedom index play a promoting role,while income gap,distance between the two countries,language,cultural differences,trade freedom index and trade partners' service trade exports play an important role.In addition,the enrollment rate of colleges and universities,fixed broadband subscriptions and the proportion of scientific research expenditure in GDP all promote trade in services.The development efficiency of import and export US service trade is high,but there are great differences between countries,and the bilateral trade volume has not reached the potential value of bilateral service trade,so there is still room for improvement.According to the development experience of American service trade and China's national conditions,this paper holds that we should strengthen the statistics of service trade to provide sufficient data support for the development of China's service trade,deepen the multilateral and bilateral cooperation of service trade,formulate a reasonable path for the development of service trade,open up a new space for the development of service trade with the help of traditional service industries,and attach importance to the training ofspecialized talents in service trade.