GLOBALISATION AND PUBLIC POLICY
2010/2011, Semester 2
Lee Kuan Yew School of Public Policy (Lee Kuan Yew School Of Public Policy)
Modular Credits: 4
Globalisation and Public Policy
T. N. Srinivasan
Content of the Course
The course will begin with a basic concepts and ideas of globalization and its major aspects that are interrelated. These include global economic integration of national economies through international trade in goods and services, international flows of financial capital, human capital through international migration, technology flows and spread of knowledge; political aspects of globalization ranging from institutions of imperialism to democratization, governance; international flows in religio-cultural and social dimensions; and finally legal, legislative and administration aspects of globalization. The prime focus of globalization in the course will be on economic integration.
The course will briefly discuss waves of globalization in a longer historical perspective but with a sharper focus on the post second world war era, particularly the three decades of 1980-2010. This part of the course will also cover the evolution of international institutions central to globalization such as the IMF, World Bank, UN agencies and
Then the discussion will shift to national and global economic outcomes such as growth (aggregate and sectoral) and productivity, poverty and inequality, international trade and finance, education, health and human welfare. Political outcomes with respect to democratization, human rights, discrimination, particularly in its ethno-religious as well as gender dimensions will be covered to the extent feasible. The interrelatedness of economic and non-economic aspects of globalization will be highlighted
The last part of the course will cover public policy as it impacts on as is impacted by globalization and impacts on globalization.. Policies will cover both purely domestic ones within each country such as each country’s foreign trade and investment, industry, agriculture, services, labour, education, health, intellectual property protection and international ones, but also those which several countries undertake in concert. In particular the extent to which the policies of a country enable or inhibit participation in and sharing the benefits/costs of globalization on the one hand and those that limit such participation and sharing of benefits/costs will be explored. Equally to what extent international policies could enable or inhibit would be explored as well.
Assessment of performance
The course meets for 13 weeks & with a one week break at week 6. For assessment of course performance a combination of two examinations (a mid-term and a final) and no more than four short one to two page essays (roughly one every three weeks ) would be used. The weights for final grade would be 30 percent for
of the examinations and 40 percent for
the periodic essays
for each of the essays.
Weekly Topics and Readings
Weeks 1 & 2:
Basic Concepts and ideas; International Flows of capital (financial and human), goods and services, ideas of science technology, as well as of culture, social and religious formations and finally of law, governance and politics.
Baldwin and Martin (1999), Bordo and Eichengreen (2002), Bordo atal (1997), Bourguignon and Morrison (2002), Chanda (2007, chs. 6, 8-10), Ferguson (2007), Lucas et al (2010), Keynes (1920, chs. I and II pages 11-12), Reinhart and Rogoff (2009), Rodrik (2000), Srinivasan (2010), Williamson (2002), Wolf (2005).
Weeks 3 & 4:
Global Institutions: Communications, Education and Health, Political, Scientific and Technological; Major Economic Institutions such as the International Bank for Reconstruction and Development (World Bank), International Monetary Fund, General Agreement on Tariffs and Trade (
), the still born International Trade Organization (ITO), United Nations Conference on Trade and Development (UNCTAD), United Nations Industrial Development Organization (UNIDO), Word Intellectual Property Organisation (WIPO) and World Trade Organization (WTO).
Janow et al (2008), Kesselman (2007),
Srinivasan (2008a, 2007, 1998), WTO (2010a)
Weeks 5 – 7
Global Economic Outcomes: Real Growth (
and Sectoral), Total Factor Productivity, Trade in goods and services, Financial Flows (short term and long term), multilateral and bilateral, debt and equity, Foreign PhD Education, Inequality and Poverty, Health and Human Welfare, Intellectual Property.
Bhagwati (2004), Stiglitz (2007, 2002), Sen (2007)
World Bank (2010)
Bhagwati (2008), Irwin (2005), Lucas et al (2010), Maddison (2008a, 2007), Srinivasan (2009a) (2007) (2003), WTO (2010, 2008), World Bank (2010), Zedillo (2005)
: Bhagwati (2009), Kose et al (2009), Prasad and Rajan (2008), Rajan (2010), Reinhart and Rogoff (2008)
: Borjas (2005), Lucas et al (2010), Pritchett (2008), Williams (2002)
Poverty and Inequality
:Bourguignon and Morrison (2002), Dollar (2005), IMF (2007), Srinivasan (2008b),(2002a), Wallack and Srinivasan (2004), Wade (2004), Winters (2007).
Brown and Stern (2008), Krugman (1997), Srinivasan (2004a)
Health and Human Welfare:
George and Wilding (2002), UNDP (2010), World Bank (2010).
UNCTAD (2003), World Bank (2006).
Weeks 8 – 10
: Globalization and Public Policy, Multinational and National, Purely domestic and cross-border policies, Multilateral and Preferential Trade Liberalization, Globalization and economic stability, Trade Policy instruments and non-trade related objectives, Trade Growth and Development, Off-shoring, Participation and Voice in International Institutions, Doha Round
Bhagwati (2008), Bhagwati, Panagariya and Srinivasan (2004), Brown and Stern (2008), Panagariya and Srinivasan (1998), Srinivasan (2009a, 2008a, 2004b), WTO (2010b), Zedillo (2008a, 2008b, 2005).
Weeks 11 – 12
: China and India
Barua and Stern (2010), Emmot (2008), Feldstein (2008), Goldstein and Lardy (2009a, 2009b), Hill (2004), Maddison (2008b), Srinivasan (2007), Winters and Yusuf (2007).
: Open Discussion of Globalization and Public Policy in Asia