This paper provides a review of the empirical evidence cited in the current public discussions on removing the remaining constitutional restrictions on foreign-equity ownership in certain economic sectors. A fuller appreciation of the given evidence shows that lifting equity restrictions is not...

The administration of President Ferdinand Marcos Jr. is pushing for the creation of the Maharlika Investment Fund (MIF). Originally proposed as a sovereign wealth fund, the MIF later on morphed into what can be called a sovereign investment fund (SIF): a state-owned investment fund that aims to...

We are pleased to note that the discussion paper we wrote ("How to change a constitution by handwaving") has attracted some interest from the public and observers of economic policy. Among the more thoughtful responses the paper has received is that from the Foundation for Economic Freedom...

I provide a formal explanation of the relationship between the virtues of prudence, justice, and benevolence described by Adam Smith in the Theory of moral sentiments and connect these with the themes Smith subsequently discusses in the Wealth of nations. I contend that the other-regarding...

Part of a proposed anthology, this article provides a concise review of the economic performance during the period of the Marcos dictatorship (1972-1985) from a comparative historical perspective. We examine the external events and internal policy responses that made possible the high growth in...

The five decades that have passed since Marcos declared martial law is an opportunity for stocktaking relative to the present. This piece is a summary comparison of the character of the economy that existed under the Marcos regime and the current structure and problems experienced by the...

This paper discusses the causes and consequences of the current trend in which a principal driver of growth is inward remittances by workers deployed overseas. The main benefit of the phenomenon is an easing of the fiscal burden arising from the effectively large transfer from workers to the...

A framework is proposed for understanding the potential value added of massive open online courses (MOOCs) along the lines of curation, credentialing, and cost. MOOCs are likely to appeal differently to universities depending on their current standard and desired goals. Institutions of a higher...

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