The EU Services Directive: Gains from Further Liberalization

By Emilio Fernández Corugedo, . Esther Perez Ruiz

July 1, 2014

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Emilio Fernández Corugedo, and . Esther Perez Ruiz The EU Services Directive: Gains from Further Liberalization, (USA: International Monetary Fund, 2014) accessed December 25, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The EU Services Directive was adopted in 2006 to foster competition in services across Europe. However, progress in liberalizing services has fallen short of expectations due to the article 15 of the Directive, which allows countries to maintain pre-existing restrictions if judged necessary to protect the public interest. Through input output analysis, this paper finds important multiplier effects of greater efficiency services to the rest of the economy. A renewed impulse to the liberalization process could be given by enhancing the advocacy role of national competition authorities in interpreting the notion of public interest underpinning existing regulations.

Subject: Competition, Economic sectors, Financial markets, Labor, Production, Productivity, Services sector, Total factor productivity

Keywords: Amplification effect, Competition, Competition authorities, Europe, Growth theory, Input-output economics, Input-output economy, Liberalization process, Multiplier effect, Production function, Productivity, Productivity improvement, Sector economy, Services Directive, Services sector, Services sectors, TFP shock, Total factor productivity, WP

Publication Details

Pages:

25
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2014/113
Stock No:

WPIEA2014113
ISBN:

9781498391726
ISSN:

1018-5941

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