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The political economy of development
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Development in the face of two powerful currents

June 1996
Report of the Secretary-General of UNCTAD to the ninth session of the Conference


Chapter I

Trade and development in a liberalized and globalizing world economy

A. Introduction

B. Liberalization and a globalizing world economy

1. Liberalization and the broadening scope for private initiative
2. The globalizing world economy

C. Liberalization, globalization and development  

          1. The role of the State
(a) The State, enterprises and development in a globalizing economy
(b) The State and the sustainability of development
(c) The State and the distribution of economic benefits
2. Seizing the opportunities
(a) Trading opportunities arising from the Uruguay Round
(i) Trade policy implications
(ii) Issues of trade efficiency
(b) Opportunities related to international capital flows and the financing of         development
(c) Opportunities provided by international production
(d) Globalization, liberalization and economic and technical cooperation             among countries
3. Meeting the challenges
(a) Loss of policy autonomy
(b) Financial openness and the risk of instability and disruption to                      development
(c) The phenomenon of marginalization
(i) Supply-side impediments
(ii) Commodity dependence
(iii) Difficulties in attracting FDI
(iv) The decline in official development assistance (ODA)
(v) Continued difficulties with external debt

D. Managing a liberalized and globalizing world economy in the pursuit of growth and development

    1. Globalization, interdependence and economic management
    2. Evolving institutional, legal and regulatory frameworks
(a) The international trading system: new and emerging issues
(b) Current trends in the evolution of arrangements governing foreign direct       investment
(c) Current trends in the evolution of the regulatory framework for                     international financial flows


Chapter II

Promoting international trade as an instrument for development in the post-Uruguay Round world

A. Opportunities and challenges for promoting economic growth and sustainable development
B. Enhancing the participation of the developing countries and countries in transition in international trade: policy approaches and measures

1. Trade policy
(a) Effective implementation of the Uruguay Round commitments and                further liberalization
(b) Measures to alleviate transitional costs
(c) Measures to enhance the effectiveness of the generalized system of               preferences (GSP)
(d) Assistance to enhance the capacity of the developing countries and             countries in transition to participate effectively in the WTO system of           rights and obligations
(e) Structural adjustment policies of developed countries
2. Trade Efficiency
(a) Establishing a Trade Efficiency Review Mechanism (TERM)
(b) Providing the Global Information Infrastructure with a development            dimension
(c) The creation of subregional GII nodes
3. Measures and actions to address commodity dependence
(a) Reduction of the instability and risks faced by the commodity-export-          dependent developing countries
(b) Promotion of commodity diversification
(c) The efficient management of natural resources

C. New and emerging issues

1. Competition policy
2. Trade and investment
3. Trade and environment
4. Regionalism and the new and emerging issues

D. Promoting complementarity between UNCTAD and WTO

Chapter III

Promoting enterprise development and competitiveness in developing countries and countries in transition

A. The enterprise sector in developing countries and economies intransition

1. Main features
2. The East Asian experiences

B. National and regional policies for enterprise development and competitiveness

1. The enabling environment
(a) Fostering business confidence and investment
(b) Strengthening government-business relationships
2. Formulating national strategies for enterprise development
(a) Elements of an enterprise development strategy
(i) Mobilizing entrepreneurial resources
(ii) Supporting micro-enterprises in the informal sector
(iii) Assisting small and medium-size enterprises
(iv) Access to support services
(v) Access to finance
(vi) Access to information networks
(vii) Building technological capabilities at the enterprise level
(viii) Encouraging inter-firm linkages
(ix) Regional cooperation

C. Facilitating enterprise operations in a global economy: the need for international action

1. Global supporting activities
(a) Fielding of enterprise development missions, especially in LDCs
(b) Ensuring that structural adjustment programmes include strong measures      in favour of enterprise development
(c) Activities aimed at enhancing enterprise competitiveness
(i) Capacity building for producer services
(ii) Capacity building in trade efficiency
(iii) Science, technology and innovation policy reviews
(d) Diffusing "best support practices" for enterprise development
2. Issues for intergovernmental action
3. Establishment of a Global Advisory Committee

Chapter IV

Future work of UNCTAD in accordance with its mandate; Institutional implications - Some personal reflections


The present report TD/366/Rev.1, prepared for the ninth session of the United Nations Conference on Trade and Development was issued in a preliminary version with a symbol TD/366.