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This paper examines the relationship between export growth and income growth by including imports in the system of equations using the Johansen (1988) procedure and vector-error correction (VEC) model. Real exports were disaggregated into manufacturing and agricultural exports. The results of the multivariate cointegration indicate the presence of a stationary long-run relationship between exports, imports and GDP. The estimated VEC models suggest economic growth is driven by exports. Test results also confirm that economic growth causes export growth for manufacturing exports. Indeed, we found a feedback causal relationship between exports and economic growth for both the manufacturing and agricultural exports. The empirical findings indicate that an important determinant of long-run growth in the fast growing Malaysian economy is imports of foreign technology.

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The end of the Cold War, which resulted from the collapse of communism and the spread of free market ideas in the former Soviet Union, China, and nations in Eastern Europe, has brought about many dramatic and momentous changes on the world scene. One remarkable development not widely recognized outside specialized academic circles is the emergence of new institutions of higher learning in the private sector of previously command economies and also in many developing countries that had been wedded to a culture of socialism for decades. The "privatization" of higher education is by all accounts a global phenomenon. Very few systematic studies of these new trends in private post-secondary education exist to date, although the impact of this development could be far-reaching not only for higher education but also for the social and economic development of many societies in the world. In this paper we attempt to analyze the phenomenon of new private universities in non-Western nations, focusing on the developing world in general, and Asia in particular. What missions have these institutions chosen? Which models are these institutions following? What challenges do they face?

Abstract. Let A" be any topological space, and C(X) the space of bounded continuous functions on X. We give a nonstandard characterization of weak convergence of a net of bounded linear functionals on CiX) to a tight Baire measure on X. This characterization applies whether or not the net or the individual functionals in the net are tight. Moreover, the characterization is expressed in terms of the values of an associated net of countably additive measures on all Baire sets of X; no distinguished family, such as the family of continuity sets of the limit, is involved. As a corollary, we obtain a new proof that a tight set of measures is relatively weakly compact.