GDP in constant prices of ASEAN countries suffers from substitution bias by ignoring relative price changes and makes GDP growth and shares dependent on the base year. These analytical deficiencies led the US since the mid-1990s to convert GDP from constant to chained prices. Thus, cross-country...

Despite the measures that have already been put in place to strengthen the international financial architecture in the wake of the Asian financial crisis, still much remain to be done. This paper tried to distinguish developing economies' views, in general, and East Asian views, in particular,...

This study reviews literature on financing catastrophic health expenditures in selected countries to describe and synthesize the strategies of relatively successful health financing schemes. It begins with a review of basic concepts and definitions to set the stage for later discussions. This is...

This paper offers an overview toward assessing the implementation of the Agriculture and Fisheries Modernization Act (AFMA) or Republic Act 8435, the country's landmark legislation on the sustainable and equitable development of its agriculture and fisheries. The study presents a Theory of...

The Philippines has set an ambitious goal of becoming a predominantly middle-class society free of poverty by 2040. However, this aspiration comes at a time of significant global headwinds that pose risks to the country's development trajectory. Growing the middle class is more closely related...

This is the lead chapter of the 2023-2024 Philippine Institute for Development Studies (PIDS) Economic Policy Monitor (EPM). It examines the economic performance of the Philippines for 2023 and at most the third quarter of 2024. It presents conditions driving global, regional, and national...

Aggregate labor productivity (ALP) growth--i.e., growth of output per unit of labor--may be decomposed into additive contributions due to within-sector productivity growth effect, dynamic structural reallocation effect (Baumol effect), and static structural reallocation effect (Denison effect)...