This course deals with the frontier-yet-fundamental issues of
‘Development Management under Globalization (グローバリゼーション下の開発マネジメント)’.
The course covers selected topics such as:
1) economic development under the changing environment of globalization (risks and benefits associated with globalization, rise and demise of the East Asian growth model, Africa’s marginalization, convergence club under globalization);
2) international trade and development (inward- vs. outward-oriented development strategies and trade reforms, regionalism vs. multilateralism, WTO and industrial promotion);
3) external finance of development (ODA, FDI and multilateral corporations, portfolio flows, debt & financial crises);
4) managing open-economy development (BOP management, the order of liberalization, exchange rate regimes and monetary policy rules, fiscal sustainability, crisis management); and
5) toward governance and quality of growth under globalization (growth and equity under globalization, localization under globalization).
Reviews of Microeconomics and International Trade/Finance theories will be discussed in relation to the subjects covered in the course. Consecutive enrollment from Development Economics (1st semester) will be highly effective.
Economic Development under the Changing Environment of Globalization
1. Introduction to GAD
1) What are the issues here?
2) Development under Globalization
3) Globalization in Historical Perspective
4) Convergence Club under Globalization
2. Globalization and the Developing Countries: An Overview and Issues
1) What is "Globalization"?
2) Risks and Benefits Associated with Globalization
3) Uneven Process of Globalization
4) Regionalization under Globalization: Regionalism vs. Multilateralism: A Preview
5) How to Manage Development under Globalization? A Preview
6) Issues of Global Governance: A Preview
Part II. Managing Open-Economy Development: A Big Picture
3. Understanding a Big Picture-- Growth, Trade, Balance of Payments, External Finance, and Crises
1) Structure of BOP
2) What is a BOP crisis?
3) Stories of S - I ≡ X - M
-- Saving-Investment Gap, Trade Gap, Competitiveness, Exchange Rate
4) From Asian Threats to Asian Coexistence
External Finance of Development
-- Managing Open-Economy Development: Finance
4. Financial Integration--External Finance and Development (FDI and MNCs, Other Capital Flows)
1) Globalization in Development Finance
2) Monetary Policy, Exchange Rate Regimes, and Price Stability
3) Debt and Financial Crises: Prevention and Crisis Management
4) FDI, MNCs, and Technology Transfer
International Trade and Development
-- Managing Open-Economy Development: Trade
6. Basic International Trade Theories and Models
1) Basic Trade Models
2) Costs of Protection
7. Trade Integration--Trade and Development--GATT/WTO
1) Two-Sector Model of Economic Development
2) Primary Exports: Export Characteristics of Developing Countries -- TOT Stories
3) Import Substitution and Infant Industry Argument
4) Outward-Looking Trade Strategies: Manufactured-Export-Led Growth and Trade Reforms
5) Trade in Services
6) Trade and Investment
7) Regionalization under Globalization: Regionalism vs. Multilateralism
8) GATT/WTO -- Development Round ?
Toward Governance and Quality of Growth under Globalization
8. Development Management under Globalization
1) Globalization, Governance and the Nation State: The Role of Government
in Development under Globalization
2) Globalization and Inequality--Poverty Reduction
3) Globalization in Labor Markets
-- Managing Open-Economy Development: Human Resources
Globalization and International Migration (and Brain Drain)
4) Toward Global Sociology?
(Contents of this lecture will be adjusted in accordance with our needs.)