This paper argues that the subprime financial crisis reflects weakness in the real economy of the US from its start. Our comparison with prior US recessions indicates that the epicenters of most of the recessions were in the financial sector and that recessionary pressure was present in the last...

This paper, which is borne out of the need to address scarcity of evidence-based studies on barangay financing, analyzes and evaluates key issues on financing of devolved functions at the barangay level, with particular focus on fund utilization and program allocation, and proposes some policy...

Over the past sixty years, the concept of development has expanded from economic growth and investment, to poverty reduction, human development, sustainable development, and more recently to institutional development. There has also been a fresh look at industrial policy and the role of the...

The study examines local responses to globalization, with Cebu as a case in point. It describes the initiatives of the business, export, and ICT sectors in adjusting to global demands. Manifestations of glocalization are indicated in the increased role of local players, intensified global-local...

Over the past sixty years, the concept of development has expanded from economic growth and investment, to poverty reduction, human development, sustainable development, and more recently to institutional development. There has also been a fresh look at industrial policy and the role of the...

This study explores the evolution of fiscal resource distribution in Pakistan. Pakistan is a federation comprising four provinces, federallyadministered areas, and the Islamabad Capital Territory. Being a central type of government, most of the revenues are collected by the centre and then...

Fiscal incentive is closely related with the extra-budgetary revenues. Based on our definition of 'fiscal incentive', we explore the impacts of fiscal incentives under decentralisation on responsiveness of public good provision to real local needs. There are also some problems in fiscal...