Within the context of “NIC-hood,” this paper advances that the country and the government should understand and situate the parameters of Philippine development. It also asserts that rethinking agricultural development and strengthening of industries and tradable services should be made.

Within the context of “NIC-hood,” this paper advances that the country and the government should understand and situate the parameters of Philippine development. It also asserts that rethinking agricultural development and strengthening of industries and tradable services should be made.

Macroeconometric models may have lost its fame in the past decade; nevertheless it has remained useful in guiding policy decisions and forecasting. This paper is concerned with its estimation and its uses regarding stabilization policies. Improvement in the present Philippine macroeconomic models is...

Very little has been written about the informal credit markets (ICMs) despite their prevalence in the economies of LDCs. This is probably due to the imported economic theories applied to LDCs. Such theories assume that the features in advanced economies are present in LDCs. Consequently, the...

Acceleration of economic growth and development, alleviation of poverty and the promotion of greater equity in Philippine society have been the major concerns of Philippine policies and reforms. Key elements to these reforms are employment generation and cooperation in industrial relations....

Despite high agricultural growth, the Philippine unemployed and underemployed has continued to swell. Rural poverty incidence has remained high and income distribution has become less egalitarian. What went wrong? This paper provides a survey of selected topics and issues in the economics of...

Trade liberalization--particularly tariff reduction, which is the focus of this paper--triggers changes in both sectoral price ratios and domestic-foreign price ratios. These changes in turn cause a reallocation in production and resources, which lead to a contraction in some production sectors...

Being intended for students interested with the dynamics of interaction of the macroeconomy, income distribution and poverty and who are users of data and econometric models, this article highlights the conceptual weaknesses, measurement errors and biases of national accounts and household...

In the past one and a half decades, the Philippine government pursued major economic policy reforms. One of the key focused areas is the trade sector. Policy reforms included tariff reduction, simplification of tariff structure, and tariffication of quantitative restrictions. While some of the...

Trade liberalization--particularly tariff reduction, which is the focus of this paper--triggers changes in both sectoral price ratios and domestic-foreign price ratios. These changes in turn cause a reallocation in production and resources, which lead to a contraction in some production sectors...