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Chapter 8, continued Financial Services Producer Services Case Studies Producer Services Locations...
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Chapter 8, continued • Financial Services • Producer Services Case Studies • Producer Services Locations • Trade in Services • Technological Change in Services • Electronic Funds Transfer • Offshore Banking & Back-Office Locations • Consumer Services
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Transcript of Chapter 8, continued Financial Services Producer Services Case Studies Producer Services Locations...
Chapter 8, continued
• Financial Services
• Producer Services Case Studies
• Producer Services Locations
• Trade in Services
• Technological Change in Services
• Electronic Funds Transfer
• Offshore Banking & Back-Office Locations
• Consumer Services
Financial ServicesConcentrationOf BankingEmployment
FinancialRegulationAndDeregulation
Producer Services Case Studies
• Accounting: The collapse of Arthur Anderson & the replacement: Accenture
• Design Services – niche markets –– They are the norm across the producer
services
• Legal Services – a wide variety of firm sizes and types of practice– Co-counseling – the reality the within
producer services of professional regulation in many industry lines
KPMG –An Example of a Globalized Service Firm
Hierarchy & Concentration in Law Firms
The Location of Producer Services –
Trade in (Producer) Services
• Differences in export orientation by industry
• Differences in export orientation by size of establishment
• The 35% figure for exports – it is likely rising over time
International Service Transactions• The pathways discussed here are equally
valid from an interregional perspective• Four pathways to trade:
– Cross border supply – no movement of either buyer or supplier across border
– Consumption abroad - purchaser goes across border to get service
– Commercial presence – supply services through cross-border affiliates
– Flow of naturalize persons – labor moves to region of the consumer to provide the service
International (Interregional) Trade in Services
• Difficult to measure, in large measure due to advances in IT
• The issue of whether services are supplied due to the theory of comparative advantage (factor conditions) or competitive advantage (Porter – see Ch. 11)
• International Production Systems – governance, global value chains, location
Technological Change & Electronic Funds Transfer
The eastward flow of funds over fiber optic networks – over $1.5 trillion daily
Offshore Banking
Back Office LocationsShift from movement of paper to just digital activity
Consumer Services Revisited
• Previously discussed – central places
• Rethinking role of consumer services retail, entertainment, sports, arts, the rise of tourist spaces
Many relativelySmall countries
U.S.CanadaMexicoCaribbeanSouth America
Tourism:Businessvs. Personalvs.Mixed trippurposes
Changing Patterns of Consumption
0
0.05
0.1
0.15
0.2
0.25
0.3
1960 1965 1970 1975 1980 1985 1990 1995 2000 2005
Sh
are
of
PC
E
Food and tobacco
Clothing, accessories,jewelry & personal care
Housing & householdoperation
Medical care
Transportation
Recreation
Education, research,personal business, religiousand welfare activities
Shifts in the Composition of the Recreation Account
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0.05
0.1
0.15
0.2
0.25
0.3
0.35
19
60
19
65
19
70
19
75
19
80
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85
19
90
19
95
20
00
20
05
Sh
are
of
Re
cre
ati
on
Ac
co
un
tAdmissions to SpectatorAmusement
Radio & TV Repair
Clubs, Fraternal,Recreation Programs
Commerical ParticipantAmusement
Pari-mutual returns,Lotteries
Pets, veterinarians
Cable television & ISP
Film Development,Photofinishing,Videocassette Rental
Other CommericalAmusement
Flat
Flat
Up, then down
Up then down
