Philippine Macroeconomic Perspective: Developments and Policies
ASEDP
No.4
Edited by Manuel F. Montes, Hideyoshi Sakai
Published in 1988
CONTENTS
Preface / Yositoshi Munakata
Introduction / Manuel F.Montes
Capter I
1. Introduction
2. Postwar Philippine Development Plans
2-1. The Philippine Economic Plans, 1962-1967
2-2. Philippine Economic Program, FY 1967-1970
2-3. Philippine Development Plan, FY 1971-1974
2-4. Philippine Development Plan, FY 1972-1975
2-5. Philippine Development Plan, FY 1974-1977
2-6. Philippine Development Plan, FY 1978-1982
2-7. Philippine Development Plan, FY 1983-1987
2-8. Up dated Philippine Development Plan, FY 1984-1987
2-9. Medium-Term Philippine Development Plan, FY 1987-1992
3. Summary and Conclusion
References
Annex 1
Annex 2
2. Postwar Philippine Development Plans
2-1. The Philippine Economic Plans, 1962-1967
2-2. Philippine Economic Program, FY 1967-1970
2-3. Philippine Development Plan, FY 1971-1974
2-4. Philippine Development Plan, FY 1972-1975
2-5. Philippine Development Plan, FY 1974-1977
2-6. Philippine Development Plan, FY 1978-1982
2-7. Philippine Development Plan, FY 1983-1987
2-8. Up dated Philippine Development Plan, FY 1984-1987
2-9. Medium-Term Philippine Development Plan, FY 1987-1992
3. Summary and Conclusion
References
Annex 1
Annex 2
Capter II
Philippine Structural Adjustment,1970-1987 / Manuel F.Montes
1. Introduction
2. A Small Structural Adjustment Model
2-1. The Current Account and the Real Sector
2-2. The Capital Account and the Monetary Sector
3. Trends in Imports
3-1. Terms of Trade Effects
3-2. Structure of Imports
3-3. Import-Substitution Policies
4. Trends in Exports
4-1. Structure of Exports
4-2. Terms of Trade Effects
4-3. Export Promotion Policies
5. Trends in Foreign Financing
5-1. Patterns in Foreign Debt and Foreign Investment
5-2. Influence of Foreign Financing in Economic Policymaking
6. Political Constraints in Structural Adjustment
7. Overall Evaluation of Structural Adjustment Efforts
References
2. A Small Structural Adjustment Model
2-1. The Current Account and the Real Sector
2-2. The Capital Account and the Monetary Sector
3. Trends in Imports
3-1. Terms of Trade Effects
3-2. Structure of Imports
3-3. Import-Substitution Policies
4. Trends in Exports
4-1. Structure of Exports
4-2. Terms of Trade Effects
4-3. Export Promotion Policies
5. Trends in Foreign Financing
5-1. Patterns in Foreign Debt and Foreign Investment
5-2. Influence of Foreign Financing in Economic Policymaking
6. Political Constraints in Structural Adjustment
7. Overall Evaluation of Structural Adjustment Efforts
References
Capter III
Fiscal and monetary Policy in the Philippines:1970-87 / Dante B.Canlas
1. Introduction
2. Macroeconomic Performance
3. Aspects of Government Behavior
3-1. Government Expenditures
3-2. Government Revenues
4. Budget Deficit and the Public Debt
5. Money and Output Effects
6. Money and Financial Intermediaries
7. Macroeconomics under the Aquino Administration
8. Some Contemplated Reforms
9. Conclusion
References
2. Macroeconomic Performance
3. Aspects of Government Behavior
3-1. Government Expenditures
3-2. Government Revenues
4. Budget Deficit and the Public Debt
5. Money and Output Effects
6. Money and Financial Intermediaries
7. Macroeconomics under the Aquino Administration
8. Some Contemplated Reforms
9. Conclusion
References
Capter IV
Employment in Philippine Development / Cayetano Paderanga, Jr.
1. Introduction
2. The Philippines's Growth Record
2-1. Brief Review
2-2. Industrial Structure of the Philippines
3. Trade and Industrial Policies: Effects on Income and Employment
3-1. Brief Review
3-2. Control Period: 1949-1960
3-3. Decontrol and Devaluation: 1961-1969
3-4. Directed Strategy: 1969 to Present
4. Impact of Policies
4-1. Brief Review
4-2. Policy Impact, 1971 to Present
5. Interrelationships: Policies and Development
5-1. Output Growth
5-2. Employment Record
5-3. Public Sector Employment
6. Summary and Conclusions
References
Appendices
2. The Philippines's Growth Record
2-1. Brief Review
2-2. Industrial Structure of the Philippines
3. Trade and Industrial Policies: Effects on Income and Employment
3-1. Brief Review
3-2. Control Period: 1949-1960
3-3. Decontrol and Devaluation: 1961-1969
3-4. Directed Strategy: 1969 to Present
4. Impact of Policies
4-1. Brief Review
4-2. Policy Impact, 1971 to Present
5. Interrelationships: Policies and Development
5-1. Output Growth
5-2. Employment Record
5-3. Public Sector Employment
6. Summary and Conclusions
References
Appendices
Capter V
Trade and Industry Reforms in the Philippines:Process and Performance / Raul V. Fabella
1. Introduction
2. Major Trade and Industry Reforms
2-1. Trade Policy Reforms
2-1.1. The Tariff Reform Program(TRP)
2-1.2. Indirect Taxes
2-1.3. Import Liberalization Program
2-2. Industrial Policy Reforms
2-3. Financial Sector Reforms(1981-1983)
2-4. Exchange Rate
2-5. Public Corporations and Privatization
2-6. Agriculture
2-7. Reforms Under the New Dispensation(1986)
3. Major Players in the Restructuring Game
3-1. The commitment Phase
3-1.1. The International Monetary Fund (IMF) and the Extended Fund Facility (EFF)
3-1.2. The World Bank (WB) and the Structural Adjustment Loan (SAL)
3-1.3. The Academic Technocrats
3-1.4. The Political Leadership
3-1.5. The Business Sector
3-1.6. A Happy Compromise
3-2. The Implementation Phase
3-2.1. A Dutch and Reverse-Dutch Disease View
3-2.2. The EFF(1976-1979) and the SAL (1980-1985) Years
4. The Academe in the Implementation Phase
4-1. The Rhetorics of Crisis
4-2. A Salvo for the Market
4-3. A More Positive Program
5. The Unfolding Scenario
5-1. Imports
5-2. Exports
6. Summary and Conclusion
References
2. Major Trade and Industry Reforms
2-1. Trade Policy Reforms
2-1.1. The Tariff Reform Program(TRP)
2-1.2. Indirect Taxes
2-1.3. Import Liberalization Program
2-2. Industrial Policy Reforms
2-3. Financial Sector Reforms(1981-1983)
2-4. Exchange Rate
2-5. Public Corporations and Privatization
2-6. Agriculture
2-7. Reforms Under the New Dispensation(1986)
3. Major Players in the Restructuring Game
3-1. The commitment Phase
3-1.1. The International Monetary Fund (IMF) and the Extended Fund Facility (EFF)
3-1.2. The World Bank (WB) and the Structural Adjustment Loan (SAL)
3-1.3. The Academic Technocrats
3-1.4. The Political Leadership
3-1.5. The Business Sector
3-1.6. A Happy Compromise
3-2. The Implementation Phase
3-2.1. A Dutch and Reverse-Dutch Disease View
3-2.2. The EFF(1976-1979) and the SAL (1980-1985) Years
4. The Academe in the Implementation Phase
4-1. The Rhetorics of Crisis
4-2. A Salvo for the Market
4-3. A More Positive Program
5. The Unfolding Scenario
5-1. Imports
5-2. Exports
6. Summary and Conclusion
References
Capter VI
Philippine Agricultural Development in historical Perspective / Arsenio M.Balisacan
1. Introduction
2. Agriculture and Macroeconomy
3. Nature and Sources of Agricultural Production Growth
3-1. Patterns of Commodity Growth in Agriculture
3-2. Sources of Production Growth
4. Commercial Policies, Production Incentives, and Rent-Seeking in Agriculture: 1970-1985
4-1. Brief Review
4-2. direct Government Interventions in Agriculture
4-3. Interventions in the Food Crop Sector
4-4. Interventions in the Export Crop Sector
4-5. Interventions on Livestock and Poultry
4-6. Interventions on Agricultural Inputs
4-7. Foreign Trade and Exchange-Rate Regimes: General Implications for Agriculture
5. Public Sector Investment in Agriculture: Social Returns and Some Political Economy Considerations
6. The Recent Policy Reforms in the Agricultural Sector: The First Three Years of the Aquino Administration
6-1. Brief Review
6-2. Comprehensive Agrarian Reform Program
6-3. Value Added Tax and Agriculture
References
2. Agriculture and Macroeconomy
3. Nature and Sources of Agricultural Production Growth
3-1. Patterns of Commodity Growth in Agriculture
3-2. Sources of Production Growth
4. Commercial Policies, Production Incentives, and Rent-Seeking in Agriculture: 1970-1985
4-1. Brief Review
4-2. direct Government Interventions in Agriculture
4-3. Interventions in the Food Crop Sector
4-4. Interventions in the Export Crop Sector
4-5. Interventions on Livestock and Poultry
4-6. Interventions on Agricultural Inputs
4-7. Foreign Trade and Exchange-Rate Regimes: General Implications for Agriculture
5. Public Sector Investment in Agriculture: Social Returns and Some Political Economy Considerations
6. The Recent Policy Reforms in the Agricultural Sector: The First Three Years of the Aquino Administration
6-1. Brief Review
6-2. Comprehensive Agrarian Reform Program
6-3. Value Added Tax and Agriculture
References