This study assesses the usefulness of money for policy in the Philippines. The basic idea behind the use of monetary aggregates for policy is that observed fluctuations in money anticipate movements in the ultimate objective of monetary policy, such as inflation control. The paper examines the...

The Philippines has a unique economic history relative to its neighbors. It is less open to trade and has been unable to attain and sustain high rates of growth. Today, globalization and participation in the global economy primarily means the export of labor rather than goods. The Philippines'...

The effects of trade, financial and other variables generally seen as indicative of the degree of economic integration on movements in industrial production growth among countries in East Asia are assessed using the common component of movements in industrial production growth in the ASEAN 5 + 3...

This study attempts to examine relationships among exchange rates in the Asian region using cointegration methods and to isolate country-specific effects of contagion using an error correction model. Monthly data covering the period from July 1992 to December 1997 are used. Dynamic simulations...

This study exploits the relationship between savings and investment implied by a country's intertemporal budget constraint to measure the degree of capital mobility. In particular, if savings and investment are cointegrated, there is an error correction model which describes the shortrun dynamic...

In recent years, the Chinese economy has grown dramatically largely as a result of China's commitment to open up its economy to the rest of the world and adopt more market-oriented policies. How ASEAN-China economic relations develop depends on many factors including the ability of either or...

History seems to have a tendency to repeat itself. The global economy goes through systemic crises. A few of these crises are catastrophic enough to seriously threaten global peace and stability. Yet it is precisely at historical junctures such as these that the inertia over reforming the...