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Volume 6, Issue 1.
Most international economists recognize the large and increasingly important role of services in international trade, but they often fail to account for services in international models of trade. In this article Susan Livingston analyzes the difficulties encountered in defining "invisible" good in international trade. She first examines practical ... read moreand theoretical attempts by economists and political authorities to define services. She then explores international trade in services and the barriers nations have erected to inhibit it. As an example of trade in services, she discusses the insurance industry and the problems it has experienced as a representative service offering agent in the international market. The article concludes with suggestions for the use of several international policy forums to discuss service industry problems and to liberalize trade.