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THE SERVICE SECTOR ROLE IN THE CONTRIBUTING TO ECONOMIC GROWTH AND ITS INTERRELATION WITH INDUSTRY SECTOR
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THE SERVICE SECTOR ROLE IN THE CONTRIBUTING TO ECONOMIC GROWTH AND ITS INTERRELATION WITH INDUSTRY SECTOR
Annotation
PII
S268667300000616-7-1
Publication type
Article
Status
Published
Authors
Alisa Gadzhieva 
Edition
Issue 10 (574)
Pages
41-64
Abstract
The service sector rapid growth based on information technologies and a number of social and economic changes in the world contributed to the economy structure transformation towards a significant service industries share predominance in it. Nowadays, dynamically developing service industries account for a large share of GDP of both developed and developing countries, making the highest contribution to economic growth, providing the economic and social processes reproduction at a new qualitative level. The article provides a detailed analysis of the service sector contri bution to economic growth based on a study of its industrial structure on the exam ple of some developed and developing countries, the consideration of the service sec tor gross value added and employment indicators, the study of the United States in dustry and services dynamics in a crisis and recovery periods with a comparison of the results achieved in each sector of the economy. Also in the article, the interindus try interrelation between the manufacturing and the service sector is analyzed. The conclusion is made that the dynamically developing service sector in the modern economy is a biggest contributor to economic growth, being the most important sup plier and consumer of intermediate products and characterized by the greater stabil ity than industry sector in crisis periods with a significant recovery.
Keywords
service industries, reproduction of the economy, contribution to economic growth, crisis period, interindustry interrelation, intermediate consumption
Date of publication
09.10.2017
Number of purchasers
4
Views
933
Readers community rating
0.0 (0 votes)
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