This paper describes concepts and tools behind macroprudential monitoring and the growing importance of macroprudential tools for assessing the stability of financial systems. This paper also employs a macroprudential approach in examining financial soundness and identifying its determinants....

Research and development (R&D) is an important resource for sustained economic growth. New knowledge created by a firm has spillover effects that improve the productivity of other firms and even other sectors. This is the heart of endogenous growth theory. In this framework, government policies...

Foreign aid has always been treated as “cheap mons.” In the past, aid studies almost always implicitly assumed that the economic impact of ODA loans is negligible. This paper, however, takes an opposite view and presents that ODA debt implications do matter. It is proposed that while aid...

This article is presented before the 19th Annual Meeting of the Philippine Economic Society at the Manila Hotel on December 11, 1982. It covers some concerns about the Philippine economic environment within the context of a world economy that may continue experiencing real growth deceleration....