Resources Mobilization and Resource use in the Philippines
ASEDP
No.26
Edited by Raul V. Fabella, Hideyoshi Sakai
Published in 1994
CONTENTS
Contents (298KB)
Preface / Raul V. Febella
Chapter I.
A Macro Study on the Accumulation Behavior of the Philippines : 1970-1992 / Joseph Y. Lim
1. Introduction
2. A Short Macro Summary
3. Accumulation Behavior of the Philippine Economy
4. Investment Behavior of Institutions
5. Sources of Finance for Gross Accumulation
5-1. Net Savings of Households and Unincorporated Enterprises
5-2. Net Savings of Private Corporations
5-3. Net Savings of General Government
6. Current Account Deficits and Foreign Savings
7. Grave Problem on Capital Accumulation
8. Income and Outlay Account of Households and Unincorporated Enterprises
9. Income and Outlay Account for Private Corporations
10. Income and Outlay Account for Government Corporations
11. Income and outlay Account for General Government
11-1. Receipts
11-2. Disbursements
12. Consolidated Account for External Transactions
12-1. Imports
12-2. Exports
12-3. Compensation of Employees from Rest of the World
12-4. Interest Payment on Foreign Debt
12-5. Current Account Deficits and Stagnation in the Early Nineties
13. Summary and Conclusions
References
2. A Short Macro Summary
3. Accumulation Behavior of the Philippine Economy
4. Investment Behavior of Institutions
5. Sources of Finance for Gross Accumulation
5-1. Net Savings of Households and Unincorporated Enterprises
5-2. Net Savings of Private Corporations
5-3. Net Savings of General Government
6. Current Account Deficits and Foreign Savings
7. Grave Problem on Capital Accumulation
8. Income and Outlay Account of Households and Unincorporated Enterprises
9. Income and Outlay Account for Private Corporations
10. Income and Outlay Account for Government Corporations
11. Income and outlay Account for General Government
11-1. Receipts
11-2. Disbursements
12. Consolidated Account for External Transactions
12-1. Imports
12-2. Exports
12-3. Compensation of Employees from Rest of the World
12-4. Interest Payment on Foreign Debt
12-5. Current Account Deficits and Stagnation in the Early Nineties
13. Summary and Conclusions
References
CHAPTER II.
Determinants of Savings and Investment in the Philippines / Honorina B. Tanhueco
1. Savings of Households and Unincorporated Enterprises
2. Determinants of Savings and Investment
2-1. Gross National Savings
2-1-1. Savings Levels
2-1-2. Savings Rates
2-2. Gross Domestic Investment
3. Conclusion and Policy Implications
References
2. Determinants of Savings and Investment
2-1. Gross National Savings
2-1-1. Savings Levels
2-1-2. Savings Rates
2-2. Gross Domestic Investment
3. Conclusion and Policy Implications
References
CHAPTER III.
Resource Mobilization and Industrial Organization / Emmanuel S. Dios
1. Introduction
2. Equities Versus Loans
3. The Role of Commercial Banks
4. Groups
5. Groups and Market Failures
6. Rivalry and Asset Specificity
7. Investment Choices and Group Organization
8. Growth
9. Policy Implications
2. Equities Versus Loans
3. The Role of Commercial Banks
4. Groups
5. Groups and Market Failures
6. Rivalry and Asset Specificity
7. Investment Choices and Group Organization
8. Growth
9. Policy Implications
CHAPTER IV.
The Banking System in the Philippine Setting: Past Experience and Implications (2.87MB) / Hideyoshi Sakai
1. Introduction
2. Overview of the Philippine Banking System
2-1. Transition in the Philippine Banking System
2-2. Financial Depression and Disintermediation in the Philippines
3. Juxtaposition of DOSRI Loans with Interlocking Directorships in the Philippines
3-1. DOSRI Loans
3-2. Interlocking Directorships and Officerships
4. Examining the Structure and Policy Reforms in the Philippine Banking System
5. Background and Recent Institutional Reforms in the Philippine Banking System
5-1. The Central Monetary Authority
5-2. Urban Commercial Banks
5-3. Thrift Banks
5-4. Rural Banks
5-5. Specialized Government Banks
6. Summary and Conclusion
References
2. Overview of the Philippine Banking System
2-1. Transition in the Philippine Banking System
2-2. Financial Depression and Disintermediation in the Philippines
3. Juxtaposition of DOSRI Loans with Interlocking Directorships in the Philippines
3-1. DOSRI Loans
3-2. Interlocking Directorships and Officerships
4. Examining the Structure and Policy Reforms in the Philippine Banking System
5. Background and Recent Institutional Reforms in the Philippine Banking System
5-1. The Central Monetary Authority
5-2. Urban Commercial Banks
5-3. Thrift Banks
5-4. Rural Banks
5-5. Specialized Government Banks
6. Summary and Conclusion
References
CHAPTER V.
Investment and the Allocation of Resources under Macroeconomic instability / Raul V. Febella
1. Introduction
2. Macroeconomic Instability
Stabilization and Investment
3. Determinants of Private Investment in the Philippines
4. Data
Data Sources
5. The Empirical Results
5-1. Behavior of Aggregate Investment
5-2. Output Growth
5-2-1. Sectoral Growth by Period
5-2-2. Relative Sectoral Output Growth: A Comparison
5-3. Returns on Equity
5-4. Shares in Initial Paid-Up Capital
6. Sources of Macroeconomic Instability
6-1. The Mechanics of Boom and Bust
6-2. Breaking Out the Boom-and-Bust Cycle
References
2. Macroeconomic Instability
Stabilization and Investment
3. Determinants of Private Investment in the Philippines
4. Data
Data Sources
5. The Empirical Results
5-1. Behavior of Aggregate Investment
5-2. Output Growth
5-2-1. Sectoral Growth by Period
5-2-2. Relative Sectoral Output Growth: A Comparison
5-3. Returns on Equity
5-4. Shares in Initial Paid-Up Capital
6. Sources of Macroeconomic Instability
6-1. The Mechanics of Boom and Bust
6-2. Breaking Out the Boom-and-Bust Cycle
References
CHAPTER VI.
Taxes and Public Sector Resource Mobilization in the Philippines / Benjamin E. Diokno
1. Introduction
2. Public Finances in Recent Philippine History
3. A Review of the Philippine Tax System
3-1. Pre-reform Period, 1981-85
3-2. Major Features of the 1986 Tax Reform Package
4. Assessment of the 1986 Tax Reform Program
5. Recent Tax Measures
6. Lessons from the Tax Reform Process
7. Conclusions and Implications for Policy
References
2. Public Finances in Recent Philippine History
3. A Review of the Philippine Tax System
3-1. Pre-reform Period, 1981-85
3-2. Major Features of the 1986 Tax Reform Package
4. Assessment of the 1986 Tax Reform Program
5. Recent Tax Measures
6. Lessons from the Tax Reform Process
7. Conclusions and Implications for Policy
References
CHAPTER VII.
The Theory and practice of Investment Programming in the Philippines / Cayetano Paderanga, Jr.
1. The Theory
1-1. Project or Program Appraisal and Cost-Benefit Analysis
1-2. The Programming Process
1-2-1. Importance of Screening and Allocating: A Single Process
1-2-2. Stages of the Investment Programming Process
1-3. The Objective of Investment Programming
1-4. Multiple Goals and Funds Programming
1-4-1. Multiple Criteria
1-4-2. Multiple Decision Marking Layers
1-4-3. Multiple Regions
2. The Institutions
2-1. The National Economic and Development Authority
2-1-1. Planning, Programming and Budgeting
2-1-2. The NEDA Board and Secretariat
2-1-3. The Secretariat's Role
2-1-4. The Investment Programming Process
2-1-5. Program Implementation and Monitoring
2-1-6. ODA Programming and Coordination
2-2. other Agencies
2-2-1. Department of Budget and Management (DBM)
2-2-2. Implementing Agencies
2-2-3. Local Governments
2-2-4. Office of the President
2-2-5. The Role of Congress
2-3. Fund Sources
2-3-1. Source preferences
2-3-2. Source Suppliers
2-4. The Private Sector
2-4-1. Connections with Source Country Suppliers
2-4-2. Access to Official Development Assistance
3. Allocative Implications of Philippine Programming Institutions
3-1. Multiple Layers and Uneven Application of Allocation Criteria
3-2. Imposing Geographic Balance
3-3. Timing and Budget Constraints
3-4. Constraints Imposed by Fund Sources
4. Recommendations
4-1. Direct Suggestions
4-1-1. Unification and Integration of Investment Allocation Procedure
4-1-2. Streamlining of the Allocation Process
4-1-3. Joint Priority-Setting and Program
Formulation between Aid Programs and the Philippine Government
4-2. Indirect Suggestions
4-2-1. Public Resource Mobilization and Forecast Accuracy
4-2-2. Enhance Local Resource Mobilization
References
1-1. Project or Program Appraisal and Cost-Benefit Analysis
1-2. The Programming Process
1-2-1. Importance of Screening and Allocating: A Single Process
1-2-2. Stages of the Investment Programming Process
1-3. The Objective of Investment Programming
1-4. Multiple Goals and Funds Programming
1-4-1. Multiple Criteria
1-4-2. Multiple Decision Marking Layers
1-4-3. Multiple Regions
2. The Institutions
2-1. The National Economic and Development Authority
2-1-1. Planning, Programming and Budgeting
2-1-2. The NEDA Board and Secretariat
2-1-3. The Secretariat's Role
2-1-4. The Investment Programming Process
2-1-5. Program Implementation and Monitoring
2-1-6. ODA Programming and Coordination
2-2. other Agencies
2-2-1. Department of Budget and Management (DBM)
2-2-2. Implementing Agencies
2-2-3. Local Governments
2-2-4. Office of the President
2-2-5. The Role of Congress
2-3. Fund Sources
2-3-1. Source preferences
2-3-2. Source Suppliers
2-4. The Private Sector
2-4-1. Connections with Source Country Suppliers
2-4-2. Access to Official Development Assistance
3. Allocative Implications of Philippine Programming Institutions
3-1. Multiple Layers and Uneven Application of Allocation Criteria
3-2. Imposing Geographic Balance
3-3. Timing and Budget Constraints
3-4. Constraints Imposed by Fund Sources
4. Recommendations
4-1. Direct Suggestions
4-1-1. Unification and Integration of Investment Allocation Procedure
4-1-2. Streamlining of the Allocation Process
4-1-3. Joint Priority-Setting and Program
Formulation between Aid Programs and the Philippine Government
4-2. Indirect Suggestions
4-2-1. Public Resource Mobilization and Forecast Accuracy
4-2-2. Enhance Local Resource Mobilization
References
Synchronized Planning-Programming-Building System