Global business services: Increasing specialization and integration of the world economy as drivers of economic growth

Abstract

Purpose

The purpose of this paper is to explore the contribution of global business services (GBS) to improve productivity and economic growth of the world economy, which has gone largely unnoticed in service research.

Design/methodology/approach

The authors draw on macroeconomic data and industry reports, and link them to the non-ownership concept in service research and theories of the firm.

Findings

Business services explain a large share of the growth of the global service economy. The fast growth of business services coincides with shifts from domestic production toward global outsourcing of services. A new wave of GBS are traded across borders and have emerged as important drivers of growth in the world’s service sector.

Research limitations/implications

This paper advances the understanding of non-ownership services in an increasingly global and specialized post-industrial economy. The paper makes a conceptual contribution supported by descriptive data, but without empirical testing.

Originality/value

The authors integrate the non-ownership concept and three related economic theories of the firm to explain the role of GBS in driving business performance and the international transformation of service economies.

Citation

Wirtz, J., Tuzovic, S. and Ehret, M. (2015), "Global business services: Increasing specialization and integration of the world economy as drivers of economic growth", Journal of Service Management, Vol. 26 No. 4, pp. 565-587. https://doi.org/10.1108/JOSM-01-2015-0024