Title page
Contents
Abstract 2
Introduction 4
Methodology Overview 5
Data 9
Results 14
Conclusion 18
Appendix 21
Table 1. Coverage of services trade restriction indices 10
Table 2. Coverage by services trade category and dataset-number of matched observations, 2014-2019 11
Table 3. Elasticity estimates by services export category, 2014-2019 11
Table 4. Comparison of trade cost estimates with Benz and Jaax (2022), by services export category 16
Table 5. Difference between estimated tariff equivalent trade costs across methodologies 18
Figure 1. Average Services NTM Index value by services trade category, 2014-2019 12
Figure 2. Average Services NTM Index Value by country, 2014-2019 13
Figure 3. Kernel Density Plot for Services NTM Index Values, 2014-2019 14
Figure 4. Summary of Trade Cost Estimates using Heid et al. (2021) method 15
Figure 5. Summary of Trade Cost Estimates using Herman (2022) method 17
Table A.1. Summary Statistics 21
Table A.2. Regression results: Heid et al. (2021), OECD FDI Index 22
Table A.3. Regression results: Heid et al. (2021), OECD MFN STRI 23
Table A.4. Regression results: Heid et al. (2021), Combined OECD STRI 24
Table A.5. Regression results: Heid et al. (2021), WB/WTO STRI 25
Table A.6. Regression results: Herman (2022), First Stage 26
Table A.7. Regression Results: Herman (2022), Second Stage, FDI Index 27
Table A.8. Regression Results: Herman (2022), Second Stage, OECD MFN STRI 28
Table A.9. Regression Results: Herman (2022), Second Stage, Combined STRI 29
Table A.10. Regression Results: Herman (2022), Second Stage, WB/WTO STRI 30