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These essays discuss the service sector and causes, problems and prospects of replacing the manufacturing business.
Manufacturing-led development has provided the traditional model for creating jobs and prosperity. But in the past three decades the conventional pattern of structural transformation has changed, with the services sector growing faster than the manufacturing sector. This raises critical questions about the ability of developing economies to close productivity gaps with advanced economies and to create good jobs for more people. At Your Service? The Promise of Services-Led Development (www.worldbank.org/services-led-development) assesses the scope of a services-driven development model and policy directions that can maximize the model’s potential.
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Over the next 25 years developing countries will move to center stage in the global economy. Global Economic Prospects 2007 analyzes the opportunities - and stresses - this will create. While rich and poor countries alike stand to benefit, the integration process will make more acute stresses already apparent today - in income inequality, in labor markets, and in the environment. Over the next 25 years, rapid technological progress, burgeoning trade in goods and services, and integration of financial markets create the opportunity for faster long-term growth. However, some regions, notably Africa, are at risk of being left behind. The coming globalization will also see intensified stresses on the "global commons." Addressing global warming, preserving marine fisheries, and containing infectious diseases will require effective multilateral collaboration to ensure that economic growth and poverty reduction proceed without causing irreparable harm to future generations."
This book presents latest research on the evolution of consumer services, as these services continue to become a larger part of the economy in the world. Four core focal points lead the central message of the book: first, the convergence of back and front offices; second, placing the client as a fundamental input of services production and delivery process, and 'industrializing' the customers' role to combine efficiency and experience; third, the constitution and role of inputs necessary for the configuration, production and delivery of the service, with the crucial role of 'operationalizing' the customers' experience; and fourth, the adoption of new technologies and the appropriate transfer of manufacturing managerial practices through service industrialization. This is a special volume of articles based on solid research and analysis, including conceptualization of the important issues, as well as recommendations for managers. It presents case histories and managerial practices in some key sectors, such as financial services, health care, tourism/hospitality, entertainment and media, online services and home and personal services
This title, first published in 1993, was one of the first books to analyse the forces behind the increasing globalization of professional business services. Based on contributions from leading authorities in international business, both academics and members of organizations such as GATT and UNCTAD, it looks at the opportunities for growth, environmental and regulatory problems, and the major problems of managing the international expansion of professional firms. Crucially, it discusses such issues from the point of view of managers of such organizations, and the role of governments in negotiating multinational agreements. This highly international and timely reissue will be of interest to students of international business, as well as managers of professional business firms and policy makers involved in international trade issues.
This book focuses on service economy development, particularly on how an industrial economy evolves into a service economy. The book is organized in three sections: The first theoretically answers the general question "what is the service economy?” The second explains the mechanism of the service economy’s formation and development, revealing the evolution trends and attempts to answer the question “where does the service economy come from?" The third section includes an in-depth analysis of Chinese case studies to answer the key question "how can the service economy development be promoted?" Readers will discover what the service economy is and how it relates to and differs from the industrial economy. More importantly, it will provide policy-makers with suggestions for how to promote service-economy development. ​
A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.
Managers are increasingly being convinced from all sides that traditional structures, systems and cultures are no longer appropriate to today's competitive conditions; and that organizations must change fundamentally. It is in the context of these pressures that managers feel it increasingly necessary to seek external support by turning to those who offer some solution to these dilemmas - the management consultants. This book argues that the initial selection of a management consultancy and the subsequent evaluation of the quality of service they deliver are inherently problematic. Two root causes are identified: the structure and dynamics of the management consultancy industry; and the characteristics of the management consultancy service. Timothy Clark examines how these problems are overcome by revealing the foundations of a successful and long-term client-consultant relationship. In a departure from previous analyses of management consultancy he argues that the key to understanding consultancy and its success is to appreciate that successful consultancy, in it methods at least, emphasizes the active management of the client-consultant relationship. At the core of successful consultancy is the art of impression management. A consultant seeks to create a reality which persuades the client that they have purchased a high-quality service. The work of consultants is analysed and understood in terms of the theatrical analogy or dramaturgical metaphor. A consultancy intervention is therefore conceived of as a dramatic event. This is illustrated with reference to two types of consultancy work - executive search (i.e. headhunting) and the work of management gurus.