Studies in Economic Policy and Institutions: The Philippines
ASEDP
No.7
Edited by Dante B. Canlas, Hideyoshi Sakai
Published in 1990
CONTENTS
Introduction / Dante B. Canlas, Hideyoshi Sakai
Chapter I.
Macroeconomic Structure and Economic Growth in the Philippines / Hideyoshi Sakai
1. Macroeconomic Structures of the Philippine Economy
2. Investment-Saving Gap
3. Inflation
4. Growth Performance
5. Summary
References
2. Investment-Saving Gap
3. Inflation
4. Growth Performance
5. Summary
References
Chapter II.
Collapsing Exchange Rates, Inflation, and Monetary Institutions: An Expository Approach / Dante B. Canlas
1. Introduction
2. Institutional Framework
2-1. Central Bank Accounts
2-2. Balance of Payments
2-3. Sectoral Accounts
2-4. External Accounts and the Money Base
3. Some Theoretical Considerations
3-1. IMF Financial Programming
3-2. Collapsing Exchange Rates
3-3. Domestic Credit Policy and the Exchange Rate
4. Philippine Experience
4-1. Domestic Credit Creation
4-2. Money Supply and Inflation
5. Factors Affecting Net Domestic Credit and the Money Supply
5-1. Government Expenditures and Fiscal Deficits
5-2. Import Substitution Policy
5-3. Inflationary Bias of the Central Bank
5-4. Private-Sector Credit Creation
6. Suggested Institutional Reforms
6-1. Central Bank
6-2. Board of Investments
7. Concluding Remarks
2. Institutional Framework
2-1. Central Bank Accounts
2-2. Balance of Payments
2-3. Sectoral Accounts
2-4. External Accounts and the Money Base
3. Some Theoretical Considerations
3-1. IMF Financial Programming
3-2. Collapsing Exchange Rates
3-3. Domestic Credit Policy and the Exchange Rate
4. Philippine Experience
4-1. Domestic Credit Creation
4-2. Money Supply and Inflation
5. Factors Affecting Net Domestic Credit and the Money Supply
5-1. Government Expenditures and Fiscal Deficits
5-2. Import Substitution Policy
5-3. Inflationary Bias of the Central Bank
5-4. Private-Sector Credit Creation
6. Suggested Institutional Reforms
6-1. Central Bank
6-2. Board of Investments
7. Concluding Remarks
Chapter III.
The Role of the Exchange Rate Protectionism in Development Successes: Implications for the Philippines / Raul V. Fabella
1. Introduciton
2. Lessons from Japan, Korea and Taiwan
2-1. The Meiji Restoration
2-2. The Postwar Reconstruction: Japan as Export Monster
2-3. Taiwan and Korea: The New Export Moguls
2-3-1. Taiwan
2-3-2. Korea
2-4. Concluding Remarks
3. The exchage Rate in the Philippines: The Extent of Import Subsidy
3-1. The View from RER
3-2. The view as Deceptive
3-3. Improving on the RER: Generalized Real Exchage Rate (GRER)
3-3-1. The Theory of GRER
3-3-2. Application
3-3-3. Exchage Rate Level
3-3-3-1. A Leading Exchage Rate Adjustment
3-3-3-2. The Smuggling Scourge
4.Towards a New Industrial Policy
2. Lessons from Japan, Korea and Taiwan
2-1. The Meiji Restoration
2-2. The Postwar Reconstruction: Japan as Export Monster
2-3. Taiwan and Korea: The New Export Moguls
2-3-1. Taiwan
2-3-2. Korea
2-4. Concluding Remarks
3. The exchage Rate in the Philippines: The Extent of Import Subsidy
3-1. The View from RER
3-2. The view as Deceptive
3-3. Improving on the RER: Generalized Real Exchage Rate (GRER)
3-3-1. The Theory of GRER
3-3-2. Application
3-3-3. Exchage Rate Level
3-3-3-1. A Leading Exchage Rate Adjustment
3-3-3-2. The Smuggling Scourge
4.Towards a New Industrial Policy
Chapter IV.
Aid and the Growth Process: Its Role and Institutional Setting in the Philippines / Florian A. Alburo
1. Introduction
2. Official Development Assistance Record
3. ODA and Growth: Review
4. Mechanisms for ODA Use
5. Conclusion: Prospects for Better ODA Absorption
References
2. Official Development Assistance Record
3. ODA and Growth: Review
4. Mechanisms for ODA Use
5. Conclusion: Prospects for Better ODA Absorption
References
Chapter V.
Why Do Governments Do What They Do? Agrarian Reform in the Philippines / Arsenio M. Balisacan
1. Introduction
2. In Search of the Forces for (or Against) Land Reform: From Quezon to Marcos
3. The Long and Winding Road to the Comprehensive Agrarian Reform Program
4. The "New" Political Economy of Land Redistribution
4-1. Endogenous Land Redistribution
4-2. The Success of Land Reform in East Asia and Its Failure in the Philippines
5. Conclusion
References
2. In Search of the Forces for (or Against) Land Reform: From Quezon to Marcos
3. The Long and Winding Road to the Comprehensive Agrarian Reform Program
4. The "New" Political Economy of Land Redistribution
4-1. Endogenous Land Redistribution
4-2. The Success of Land Reform in East Asia and Its Failure in the Philippines
5. Conclusion
References
Chapter VI.
Public Finance in Philippine Development / Ruperto P. Alonzo
1. Introduction
1-1. Background
1-2. The World Economic Scenario
1-3. The Philippine Debacle
1-4. Objectives and Scope of this Study
2. Revenue Developments
2-1. Aggregate Trends
2-2. The Philippine Revenue Structure
2-2-1.Domestic Based Taxes
2-2-2. International Trade Taxes
2-2-3. Nontax Rvenues
2-3. Other Issues in Philippine Tax Policy
3. The Government's Expenditure Program
3-1. patterns of Government Spending
3-2. An Assenssment of the Public Investment Program
3-3. The Sectoral and Regional Distribution of Public Investment
3-4. Restoring the Level of Public Investment
3-5. Improving the Project Development System
4. The Government orporate Sector
4-1. An Overview
4-2. Characteristics of the Corporate Public Sector
4-3. Streamlinging the Public Enterprise Sector
5. Concluding Remarks
References
1-1. Background
1-2. The World Economic Scenario
1-3. The Philippine Debacle
1-4. Objectives and Scope of this Study
2. Revenue Developments
2-1. Aggregate Trends
2-2. The Philippine Revenue Structure
2-2-1.Domestic Based Taxes
2-2-2. International Trade Taxes
2-2-3. Nontax Rvenues
2-3. Other Issues in Philippine Tax Policy
3. The Government's Expenditure Program
3-1. patterns of Government Spending
3-2. An Assenssment of the Public Investment Program
3-3. The Sectoral and Regional Distribution of Public Investment
3-4. Restoring the Level of Public Investment
3-5. Improving the Project Development System
4. The Government orporate Sector
4-1. An Overview
4-2. Characteristics of the Corporate Public Sector
4-3. Streamlinging the Public Enterprise Sector
5. Concluding Remarks
References
Chapter VII.
Small and Medium Enterprises and Regional Development / Ma. Adela A. Santiano
1. Development Challenges, Goals, Strategies and Policies
1-1. The Constitutional Mandate
1-2. The Medium-Term Philippine Development Plan, 1987-1992
1-3. Trade and Industrial Policy: "Towards People-Oriented Industrializaiton"
2. Regional Development
2-1. Current Situation on Regional Disparity
2-1-1. Income Disparity
2-1-2. Poverty Incidence
2-1-3. Infrastructure and other Physical Development
2-1-4. Industrial Dispersal
2-1-5. Law and Order
2-1-6. Budgetary Allocation
2-1-7. Disparity in Educational Opportunities
2-2. DTI Programs for Regional Development
2-2-1. Regional Industrial Centers (RICs)
2-2-2. Decentralization
2-2-3. Export Processing
2-2-4. Industrial Estates
2-2-5. Promotion of Micro, Cottage, Small and Medium Industries
3. A Close Look at Micro, Cottage, Small and Medium Enterprises in the Philippines
3-1. MCSMEs Defined and Classified
3-1-1. By Organizational Structure
3-1-2. By Employment and Assets
3-2. Viability of MCSMEs in the Regional Setting
3-3. Profile of the Small Entrepreneur
3-4. Actual Performance of MCSMEs
3-4-1. Number fo Establishments
3-4-2. Regional Dispersal
3-4-3. Employment Creation
3-4-4. Income Generation
3-4-5. Value Added
3-5. Problems of MCSMEs
3-5-1. Size-RelatedHandicaps
3-5-2. Operational Problems
4. Assistance Programs for MCSMEs
4-1. Financial Assistance
4-2. Marketing Assistance
4-3. Production / Technical Assistance
4-4. Maganement Assistance
4-5. Assistance to the Micro Enterprise Sector
5. Recent Developments
5-1. Rising Price fo Real Estate in Urban Centers
5-2. Trasportation and Congestion Problems in Metro Manila
5-3. Coup of December 1989
5-4. Republic Act No. 6810
6. Summary and Conclusions
Dreams and Visions
Some Questions
References
1-1. The Constitutional Mandate
1-2. The Medium-Term Philippine Development Plan, 1987-1992
1-3. Trade and Industrial Policy: "Towards People-Oriented Industrializaiton"
2. Regional Development
2-1. Current Situation on Regional Disparity
2-1-1. Income Disparity
2-1-2. Poverty Incidence
2-1-3. Infrastructure and other Physical Development
2-1-4. Industrial Dispersal
2-1-5. Law and Order
2-1-6. Budgetary Allocation
2-1-7. Disparity in Educational Opportunities
2-2. DTI Programs for Regional Development
2-2-1. Regional Industrial Centers (RICs)
2-2-2. Decentralization
2-2-3. Export Processing
2-2-4. Industrial Estates
2-2-5. Promotion of Micro, Cottage, Small and Medium Industries
3. A Close Look at Micro, Cottage, Small and Medium Enterprises in the Philippines
3-1. MCSMEs Defined and Classified
3-1-1. By Organizational Structure
3-1-2. By Employment and Assets
3-2. Viability of MCSMEs in the Regional Setting
3-3. Profile of the Small Entrepreneur
3-4. Actual Performance of MCSMEs
3-4-1. Number fo Establishments
3-4-2. Regional Dispersal
3-4-3. Employment Creation
3-4-4. Income Generation
3-4-5. Value Added
3-5. Problems of MCSMEs
3-5-1. Size-RelatedHandicaps
3-5-2. Operational Problems
4. Assistance Programs for MCSMEs
4-1. Financial Assistance
4-2. Marketing Assistance
4-3. Production / Technical Assistance
4-4. Maganement Assistance
4-5. Assistance to the Micro Enterprise Sector
5. Recent Developments
5-1. Rising Price fo Real Estate in Urban Centers
5-2. Trasportation and Congestion Problems in Metro Manila
5-3. Coup of December 1989
5-4. Republic Act No. 6810
6. Summary and Conclusions
Dreams and Visions
Some Questions
References
Chapter VIII.
Tertiary Education in the Philippines: Individual Rationality and Social Myopia / Cayetano Paderanga, Jr.
Introduction
Policy Dilemma
1. Production and Employment of Tertiary Graduates
1-1. The Tertiary Education Sector
1-1-1. The Private Sector
1-1-2. The Public Sector
1-1-3. Comparing the Two Sectors
1-2. Tertiary Graduates and their Employment
2. Concepts of Labor Absorption and Unemployment
3. Household Schooling Decisions
Factors Affectiong Investment Demand and Supply of Funds
4. The Philippine Labor Market
Mismatch
5. Interpretation and Recommendation
References
Policy Dilemma
1. Production and Employment of Tertiary Graduates
1-1. The Tertiary Education Sector
1-1-1. The Private Sector
1-1-2. The Public Sector
1-1-3. Comparing the Two Sectors
1-2. Tertiary Graduates and their Employment
2. Concepts of Labor Absorption and Unemployment
3. Household Schooling Decisions
Factors Affectiong Investment Demand and Supply of Funds
4. The Philippine Labor Market
Mismatch
5. Interpretation and Recommendation
References