Globalisation, labour standards and economic development

In recent years a few advanced countries have been advocating multilateral rules permitting punitive trade measures to be taken against countries not upholding core labour standards. The mainly developing target countries have rebutted these initiatives which they argue are protectionist, in intent and in effect. Whilst closely examining the economic arguments in this controversy, this paper is also concerned with the broader political and moral dimensions. The authors suggest that developing countries are committed to improving core and other labour standards; the reason why they are unable to implement many of these forthwith is not because of the wickedness of their governments, but essentially their economic circumstances and the structure of their economies. The paper concludes that core ILO Conventions 87 and 98 should be re-drafted to take into account the economic conditions of developing countries.Globalisation, Labour Standards, Economic Development

Shareholder value maximisation, stock market and new technology: should the US corporate model be the universal standard

In 1992 a blue-ribbon group of US economists led by Michael Porter concluded that the US stock market-based corporate model was misallocating resources and jeopardising US competitiveness. The faster growth of US economy since then and the supposed US lead in the spread of information technology has brought new legitimacy to the stock market and the corporate model, which is being hailed as the universal standard. Two main conclusions of the analysis presented here are: (a) there is no warrant for revising the blue-ribbon groupÕs conclusion; and (b) even US corporations let alone developing country ones would be better off not having stock market valuation as a corporate goal.Shareholder wealth, Information technology, Stock-market efficiency

Globalisation, labour standards and economic development

'This working paper forms part of the CBR Research Programme on Corporate Governance'. Includes bibliographical referencesAvailable from British Library Document Supply Centre- DSC:9349. 2269(no 257) / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo