Advanced Development Management Program (ADMP)
1997 PROGRAM

GLOBALIZATION AND DEVELOPMENT:

Search for Boundaries between Market and Other Institutions for Effective Development

Objectives: Global integration of markets is advancing quite rapidly with increased global trade, dynamic movements of multinational corporations, and quicker flow of money across borders. It is bringing unprecedented challenges to human beings. On the one hand, it is providing new opportunities for economic activities, increasingly influencing the well-being of people. On the other hand, it is restricting viable policy alternatives for development, leaving some social problems inadequately addressed and some countries not benefiting from globalization. In some regions such trend is advancing more quickly through regional integration.

Globalization brings people’s attention more strongly to comparative advantages of nations, firms and individuals, and to market movements. In some areas markets replace regulatory mechanisms as found in deregulation and privatization, while new alternative institutional developments are in demand. In some areas such as education and technology, cultivating national competitive advantages through effective institutional developments are emphasized. But threats to some institutional factors, such as ethnicity and religion, are also provoking some social and political unrest.

Both developed and developing countries are searching for a proper mix of market and other institutions in a new stage of global development, not only to generate national development effectively and efficiently, but also to bring attention to inadequately addressed problems. This year’s Advanced Development Management Program inquires into the influence of globalization and regional integration on development, focusing on boundaries between market and other institutions.