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 2008 global economic and financial crisis spawned a synchronized recession among industrialized countries leading to a contraction in world trade. Exports from developing countries fell sharply dragging many of them into the global economic downturn. The Philippines was not spared the...

The Millennium Development Goals (MDGs) recognize the need to understand the link between disability and poverty. In fact this has become one of the key issues in the subject of poverty reduction in Asia and the Pacific. The United Nations Economic and Social Commission for Asia and the Pacific...

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...

Within the context of the ASEAN Economic Community (AEC) Scorecard mechanism developed by the ASEAN Secretariat to monitor the implementation of the AEC Blueprint, the study focuses on the current state, performance and impact of investment liberalization and facilitation, trade facilitation,...

ASEAN member countries are moving toward achieving the ASEAN Economic Community (AEC) with the timeline set at 2015. It is therefore important for policymakers in the region to sustain the momentum - or perhaps even accelerate the pace - toward establishing the AEC. Policy measures are being...

The private sector is the driver of growth in most ASEAN economies. It is therefore expected to play a significant role in the process of economic integration in ASEAN. In the Philippines, the private sector has dominated the economy, contributing about 95 percent of GDP, but it has not lived up...

The basic framework of the PIDS Annual Macroeconometric Model is presented in this paper. After outlining the general philosophy of the model, the discussion focuses on the production sector of the model in order to trace the manner by which macroeconomic policies affect relative prices and...

The strong recovery of the five crisis-affected countries of East Asia between 1999 and 2000 has revived the debate on the causes of the 1997 financial crisis. Initially there had been an emerging consensus that the crisis had originated from the capital account. However, some analysts see the...

Dollarization denotes the use of a foreign currency in any of its three functions: unit of account, means of exchange and store of value. In terms of the latter aspect, dollarization has been increasing in the Philippines. Empirical tests that confirm the significance of dollarization are...