Utilizing the Australian case as an exemplar, we argue that a stable education export "industry" needs to be governed by a robust governance network. We tell of an international education model defined by the prioritization of profit and the belief that students are consumers whose entitlements are determined by the marketplace. The crisis this perspective induced led to the emergence of a more mature governance regime, but problematic aspects of the original model remain. We argue that to achieve stability, a governance network needs to be created, a network that is comprised of a range of stakeholders who have the capacity to countervail each other's power and by so doing curtail practices that place international students and academic values at risk. We suggest the Australian case is an important exemplar of the difficulties that can be generated if the commercialization of international education is inadequately governed and that this exemplar should be accorded due heed by students, faculty, university managers and regulators. Copyright of the Academy of Management, all rights reserved.
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