Global Trade Liberalisation: Coordination and Coherence

Globalisation is a major issue in international debate. The demonstrations in Seattle in 1999 showed that there is a high level of public concern over the growth of world trade and the institutions, such as the International Monetary Fund, the World Bank and the World Trade Organisation (WTO), that have key roles in global trade and development. Much of the concern relates to developing countries and their place in the international economy. This article is an edited version of a paper presented by His Excellency Dr Supachai Panitchpakdi as the 2000 David Finch Lecture at the University of Melbourne on 5 July 2000. Dr Supachai is a key player in the development of the international economy and is the next Director General of the WTO. In his article, Dr Supachai addresses many of the concerns relating to globalisation and developing countries. He discusses the key issues facing the WTO and world trade in general, focusing on the need for both coordination and coherence in the development of international economic relations. In particular, he highlights the need for an inclusive approach to international trade liberalisation.     

Demand and supply elements in educational planning

Educational targets are usually determined by one of the conventional planning approaches without adequate prior knowledge of the behavioural relationships concerning the educational market. The insight into the functioning of the relevant demand and supply factors within the framework of an educational market can effectively serve as the groundwork and consistency check for any planning exercise. After reviewing various concepts regarding the structure of educational market, a demand and supply system of education is developed in the paper. Apart from the consideration of the relevant demand and supply factors, a novel concept of education's price is introduced. Empirical tests of this system are carried out for Africa, Asia and Latin America for two periods of time with encouraging results. Some basic conclusions can be drawn from these results particularly with regard to the changing impact of the demand and supply factors, the link between economic growth and income distribution through education, and the co-existence between the excess demand for education and unemployment.