Legal services global market: current state and development prospects

• Main Authors: Oleg A. Yastrebov, Arina A. Tinkova
• Format: Article
• Language: English
• Published: Peoples’ Friendship University of Russia (RUDN University) 2021-12-01
• Series: RUDN Journal of Economics
• Subjects: legal services; foreign trade policy; world financial centers; world market
• Online Access: http://journals.rudn.ru/economics/article/viewFile/27608/19916

The article answers the question: what are the distinctive features of the global legal services market in the context of globalization, as well as what place and role it occupies in international trade and trade policy? The study is divided into 3 parts. The first part structures the main theoretical aspects concerning the legal services world market: the concept and classification of legal services, forms and methods of international trade in legal services. The second part analyzes the market indicators of the global legal services market, characterizes the main problems and trends in its development. The place and role of Russia in the global legal services market are revealed. The third part deals with the foreign trade policy issues, mechanisms for protecting the internal market. Special attention is paid to the analysis of the Services Trade Restrictiveness Index for legal services. The mechanism of countries foreign trade policies influence on the British legal services sector is illustrated in the context of Brexit.