Bulletin Board

Development Management under Globalization

2nd Semester, 2006-2007

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: 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); international trade and development (inward- vs. outward-oriented development strategies and trade reforms, regionalism vs. multilateralism, WTO and industrial promotion); external financing of development (ODA, FDI and multilateral corporations, portfolio flows, debt & financial crises); managing open-economy development (BOP management, the order of liberalization, exchange rate regimes and monetary policy rules, fiscal sustainability, crisis management); and toward governance and quality of growth under globalization (growth and equity under globalization, localization under globalization).

Development Microeconomics and Development Macroeconomics are prerequisites for this course. However, as I would like to accommodate those who are interested in the issues of Globalization and Development, reviews of Microeconomics and International Trade/Finance theories will be given in relation to the subjects covered in the course. Consecutive enrollment from Development Economics will be highly effective.

Date of Entry

December 5 Required Readings for December Lectures:

**World Bank, World Development Report 2000―Entering the 21st Century,
Chapter 2: The Wolrd Trading System: The Road Ahead.

**World Bank, World Development Report 2000―Entering the 21st Century,
Chapter 3: Developing Countries and the Global Financial System.

**Michael Bruno, Deep Crises and Reform: What Have We Learned? Directions in Develpment Series, The World Bank (1996).
"Inflation, Debt, and Growth Crises (**)". Other sections (*).
[PDF file is here.]

**Economics of Development, 5th ed., Chapters 13(*) and 14(*).
Ch.13 Financial Policy--Section "Monetary Policy and Price Stability" is a MUST (**).
**Economic Development, 9th ed., Chapters 14 and 15.

For those who do not understand IS-LM framework, you should consult with a textbook on Macroeconomics.

November 6 Lecture on November 7 will be cancelled due to the DFW presentations in Yasuoka Village. About one-half to two-thirds of the registered students for this course will be attending this DFW presentations.

See you on November 14.

October 17 Here's the handouts for our Globalization-Brain Storming sessions.


Print it and bring it with you when you come to lecture nextweek.

October 9

Required Readings for October Lectures:

**World Bank, World Development Report 2000―Entering the 21st Century.
Read Overview, Introduction, and Chapter 1 for now.

**Assessing World Bank Support for Trade 1987-2004: An IEG Evaluation
Read Executive Summary and any sections that you are interested.
World Bank was overly optimistic about the immediate and universal benefits of more open trade.
This critical independent evaluation report confirms that liberalizaing trade alone is not enough to generate growth and fight poverty.

**David Dollar and Aart Kraay, "Trade, Growth, and Poverty," World Bank Policy Research Series, No. 2615 (June 2001).
[PDF file is here.]

**Jeffrey D. Sacks and Andrew Warner, "Economic Reform and the Process of Global Integration," Brookins Papers on Economic Activity, 1:1995.

*David Dollar, "Globalization, Poverty, and Inequality since 1980," Policy Research Working Paper No. 3333, The World Bank (2004).
[PDF file is here.]

**Richard E. Caves, Jeffrey A. Frank el, and Ronald W. Jones, World Trade and Payments: An Introduction, 8th Ed., Addison-Wesley, 1999. [Textbook for International Economics]
Read Chapter 15.
**Richard E. Caves, Jeffrey A. Frank el, and Ronald W. Jones, World Trade and Payments: An Introduction, 9th Ed., Addison-Wesley, 2002. [Textbook for International Economics]
Read Chapter 15.

October 3, 2006

First class of Development Management under Globalization (DMUG) for 2006-2007 will meet on Tuesday, October 10.

October 10: (10:30 a.m. - 12 noon; #3 Lecture Room, 6th floor)

1) Introduction to DMUG (course syllabus, course requirements, etc.)

We may move to a smaller lecture/seminar room after the first meeting, if class size permits, for more class-room discussions.

Regularly pay attention to
1) "Globalization and Development (GAD-I)", our on-line course syllabus,
2) "Exploration of Economics/International Development Resources", our internet resources, and
3) this Bulletin Board.
Course announcements will be made through this DMUG BB.

Again, welcome back to GSID !! See you all on Tuesday, October 10 !!

Prof. Otsubo