It is the sector where the organizations that produce intangible goods are grouped. Find more terms and definitions using our Dictionary Search. Service Sector appears in:. Handbook of Research on Internationalization of Search inside this book for more research materials. Recommend to a Librarian Recommend to a Colleague. Looking for research materials? Search our database for more Service Sector downloadable research papers.
Full text search our database of , titles for Service Sector to find related research papers. Handbook of Research on Clinical Application In the past, individuals in the dentistry field ha In Stock. Theory and Practice of Business Intelligence Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance.
Develop and improve products. List of Partners vendors. The service sector produces intangible goods, more precisely services instead of goods, and according to the U. Census Bureau , it comprises various service industries including warehousing and transportation services; information services; securities and other investment services; professional services; waste management; health care and social assistance; and arts, entertainment, and recreation.
Countries with economies centered around the service sector are considered more advanced than industrial or agricultural economies. The service sector, also known as the tertiary sector, is the third tier in the three sector economy. Instead of the product production, this sector produces services maintenance and repairs, training, or consulting. Examples of service sector jobs include housekeeping, tours, nursing, and teaching.
By contrast, individuals employed in the industrial or manufacturing sectors produce tangible goods , such as cars, clothes, or equipment. Among the countries that place heavy emphasis on the service sector, the United States, the United Kingdom, Australia, and China rank among the top. In the United States, the Institute for Supply Management ISM produces a monthly index that details the general state of business activity in the service sector.
This index is regarded as a metric for the overall economic health of the country because approximately two-thirds of U. According to the CIA World Factbook, the following countries are the largest by service or tertiary output as of Policy research working paper WPS Golpek F Service sector and technological development. Procedia Social and Behavioral Sciences — Hansda SK Sustainability of services-led growth: an input-output exploration of the Indian economy.
University Library of Munich, Germany. Acad J Econ Stud 2 4 — Linden M, Mahmood T Long run relationship between sector shares and economic growth. A panel data analysis of the Schengen Region. J Bus Manag Econ 5 1 — Tour Econ. National Bureau of Statistics Nigerian gross domestic product report for quarter four, J Sustain Dev Africa 10 3. J Appl Economet — Ram R Government expenditure and economic growth: a new framework and some evidence from cross-section and time-series.
Am Econ Rev — Tandrayen-Ragoobur V The services sector and economic and economic growth in Mauritius. A bounds testing approach to cointegration. Univ Maurit Res J — Tang S, Selvanathan S The relationship between foreign direct investment and tourism: empirical evidence from China. Inst Econ 5 2 — IZA discussion paper, No. Download references. Authors acknowledge suggestions from Dr. Ismail O. Fasanya on the theoretical framework to adapt and on model specification.
Joel E. Owuru is also acknowledged for his suggestion on data source. You can also search for this author in PubMed Google Scholar. Both authors contributed to the completion of this article from conceptualization to the concluding remark.
Hence, all authors have read and approved the manuscript. Correspondence to Abiodun Moses Adetokunbo. Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material.
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Futur Bus J 6, 27 Download citation. Received : 02 October Accepted : 26 February Published : 28 May Anyone you share the following link with will be able to read this content:. Sorry, a shareable link is not currently available for this article. Provided by the Springer Nature SharedIt content-sharing initiative.
Skip to main content. Search all SpringerOpen articles Search. Download PDF. Abstract The misconception of services as being non-productive has led to the neglect of the service sector in both economic theory and applied economic researches. Methods Model This study employs a modified version of Ram [ 21 ] model which is based on endogenous growth model.
Results and discussion Pre-estimation analysis The description from Table 1 shows that the average percentage of gross domestic product, education expenditure, health expenditure, transportation and communication expenditure, gross fixed capital formation, labor force participation rate, control of corruption, and government effectiveness between the years to is estimated to be approximately Table 1 Descriptive statistics of variables.
Full size table. Table 2 Summary of unit root test results. Table 3 ARDL bounds co-integration test result. Table 4 Long-run and short-run model estimation. Table 5 Diagnostic tests results. Full size image. Conclusion The objective of the study was to examine the responsiveness of economic growth to the dynamics of the service sector in Nigeria, using an annual data sources from the Central Bank of Nigeria Statistical Bulletin, World Governance Indicator and the International Labour Organization over the year to References 1.
J Sustain Dev Africa 10 3 Am Econ Rev —69 Google Scholar Inst Econ 5 2 —68 Google Scholar Acknowledgements Authors acknowledge suggestions from Dr. Funding Not applicable. View author publications. Ethics declarations Competing interest Not applicable. Additional information Publisher's Note Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
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