DOCSLIB.ORG

Inflation Targeting and Exchange Rate Uncertainty

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Inflation Targeting and Exchange Rate Uncertainty INFLATION TARGETING AND EXCHANGE RATE UNCERTAINTY A thesis submitted by Veronica B. Bayangos (Philippines) in fulfilment of the requirements for the degree of DOCTOR OF PHILOSOPHY IN DEVELOPMENT STUDIES Institute of Social Studies The Hague, The Netherlands November 2007 Thesis Committee Promotor: Professor Dr Rob Vos Institute of Social Studies Co-Promotor: Dr Karel Jansen Institute of Social Studies Examiners: Professor Dr H. (Hans) Visser Vrije Universiteit, Amsterdam Dr Josef T. Yap Philippine Institute for Development Studies Professor Dr Mansoob Murshed Institute of Social Studies This dissertation is part of the research programme of CERES, Research School for Re- source Studies for Development. Funded by the Netherlands Foundation for Advanced Tropical Research (WOTRO) Copyright Shaker Publishing 2007 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publishers. Printed in The Netherlands ISBN 978-90-423-0329-4 Shaker Publishing BV St. Maartenslaan BV, 6221 AX Maastricht Tel No.: 043-3500424, Fax: 043-3255090 http://www.shaker.nl 1 Acknowledgements PhD life beat me down occasionally. But I am the eternal opti- mist, glad that it took me four years to finish. The people who supported me made the time worthwhile. For one, I have the best supervision team. Professor Rob Vos and Dr Karel Jansen helped me to secure a four-year grant from WOTRO to pursue my PhD. They cannot know how happy I was when I received the news that I could finally start the research. I am extremely grateful to Rob. I have deeply appreciated his contributions to this research, even while he was in New York. All of his views, challenges, suggestions and comments helped me along the way. I am more than proud that he is my first promotor. I am equally grateful and proud to have Karel as my second promotor. I will certainly miss the way he supervised and chal- lenged the whole research. Karel has been a strict mentor to me in some respects, yet I have realized this is what I need. I trust his supervision implicitly. Sometimes, when you work with some- one you remain guarded because you are not sure about their plans. But with him, I have felt he would take me much farther than I could go on my own. Not to be missed is my field supervisor, Dr Josef Yap, who filled the technical gap and provided a practical approach to do the research. He was willing to help at any point. I would also like to mention the support given by Dr Mario Lamberte and the staff of Philippine Institute for Development Studies during my field work. iii The intellectual support beyond my supervision team was overwhelming. Dr Peter van Els and Dr Maria Demertzis from De Netherlandsche Bank and Dr Francis Dakila from Bangko Sentral ng Pilipinas helped in the initial stage of the research. They con- veyed to me the most essential requirements of inflation targeting, especially on the modelling aspects. At ISS, I am grateful for comments and help from Dr Howard Nicholas, Professor Dr Mansoob Murshed, Professor Dr Massoud Karshenas and Dr Robert Sparrow. I gained so much confidence with discussants in various con- ferences and presentations. Partly funded by the ISS, I am thankful for the support of the Dean’s Office and Academic Registrar, namely, Dr Wil Hout, Nynke Jo Smit and Lenneke Warnars. I thank Dr Ali al-Nowaihi (University of Leicester, United Kingdom), Dr Martin Sommer (International Monetary Fund, Washington DC), Dr Marco Arnone (Catholic University and CeMaFiR, Milan, Italy), Dr Valerie Mignon (Centre d’études prospectives et d’informations internationals (CEPII)), Professor Sherman Robinson, Micromacro Consultants BV headed by Marein van Schaaijk, Stephen Uy, Lesly Sendar, and Dr Jan Lemmen of the CPB Netherlands Bureau for Economic Policy Analysis. Their comments made the thesis more robust and practical. I enjoyed intellectual support as teaching and research assis- tant to Professor Marc Wuyts, Dr Max Spoor, Dr Haroon Akram Lodhi, Jan van Heemst, Dr Jos Mooij, Dr Mahmood Messkoub, Dr ThanDam Truong, Dr Anirban Dasgupta and Lorenzo Pellegrini. During the writing of the thesis, I benefited tremendously from the support of Professor Martin Doornbos, Wicky Meynen, Professor Dr Ben White, Dr Cris Kay, Dr Karin Arts, Dr Joao Guimaraes and Drs Rogier Marchand. I treasure the intellectual support and friendship of my fel- low PhDs who have since graduated - Claudius Preville, Marco Sanchez Cantillo, Le Thin Van Hue, Nicholas Aworti, Sharada iv Srinivasan, Le Thai Thuong Quan, Nguyen Van Phuc, Nicky Pouw, Mahmoud Hamid, Admasu Shiferaw and Abert Musisi. I am proud to have been in contact with my peers at the PhD programme. It was challenging for us to be in the group, and all earned my utmost respect – Georgina Gomez, Leandro Serino, Rose Namara, Roselle Leah Rivera, Manohara Khadka, Gervas Kolola, Mallika Rani Pinnawala, John Agbonifo, Jerome Abban, Akinyinka Akinyoade, Paulos Chanie, Dawood Mamoon and Sailaja Nandigama. The Student Affairs Office – Ank van de Berg, Dita Dirks, Lubna Sharwani, Maureen Koster, Martin Blok, Cynthia Recto-Carreon and Charmiane Klaring – made my life at ISS easier. Special thanks to the Finance Department – Renee de Louw, John Sinjorgo, Wim Knoester and Sylvia Cattermole. Also to OLITS – John Steenwinkel, Jeff Glasgow, Henri Robbemond, Ton Rimmelzwaan. Special thanks to Michelle Luijben for her editing. My colleagues at the Asian Development Bank headquarters in Manila have been more than supportive. Special thanks to Francis Harrigan, Kazu Sakai, Paul Turner, Sukanda Lewis, Yushu Feng, Padmini Desikachar, Ronnie Butiong, Erik Bloom, Rhodora Concepcion, Zuleikha Bisera, Marichi Manaligod, Mylene Camara-Crespo, Ma. Celina Cruz, Margarita Javier, Irene Tengco and Elizabeth Alimuring. My mentors and colleagues at the BSP in Manila, Governor Amando M. Tetangco, Jr., Deputy Governor Diwa C. Guinigundo, Deputy Governor Nesting Espenilla, Myra Pacheco Cunanan, Edith Alido, Maria Digna Paraso†, Tony Cintura, Lou Sicat, Ludy Gador, Reggie Juinio and Marah Diangson Anka. For still other reasons, I thank my friends who remain close to my heart: Claudius Preville, Roldan Cinco, Marco Sanchez Cantillo and Adelita Corcuera, Thomas and Cristy Vogel, Ro- sette Tsai, Nilda Aribon Agoo, Agnes Apostol, Linda Estrella, Gilda Fernandez, Marissa de Vera, Oliver and Joji Rey-Matias, Barry and Josel Barrientos, Joel Lasam and Evelyn Santiago. I have enjoyed rich travelling experiences and art activities in Holland and elsewhere through the International Cultural Ex- v change Group, an ex-pats group in The Hague. I thank Bo Pallavicini, Irene Shunkels, Madeleine Vrielink, J.B. Perrini, Dean Southal and Yetty Hanning for setting it up. The Roman Catho- lic Church in The Hague provided me much needed spiritual balance. My second family in The Hague, the Baxas – Ave, Boyet and Neior – provided support at some difficult stages of my PhD. There are Filipinos in the Netherlands who are equally support- ive: Norman Dytianquin, Peter and Au Payoyo, Baby Gonzales, Bessie and Wim Middendorp, Jan and Helen Hendriessen, Sifko and Malou, Ernie and Lina Pineda. My family made my life whole at every difficult stage of PhD, including when our father passed away in 2005. Thank you – Grace, Ruby Rose, Mary Joyce, Elizabeth and Roderick and their husbands, wife and partner, my nephews and my nieces and my best cousins in San Francisco – Gerry and Ellen, Rose and Ro- lando and Maria. This book is dedicated to my four greatest inspirations – Rogelio†, Vicenta†, Marciana† and my best friend Maria Digna†. Veronica Bayangos The Hague, The Netherlands September 2007 vi 1 Contents Abbreviations.............................................................................................xiii Abstract........................................................................................................xv 1 The Task Ahead: Introduction...............................................1 1.1 The context ..................................................................................................1 1.2 The need to switch monetary policy targets ..............................................2 1.3 The actual behaviour of central banks .......................................................3 1.4 Central research hypothesis and questions ................................................5 1.5 Analytical framework and methodology....................................................7 1.6 Contributions of the study .......................................................................12 1.7 Structure of the thesis ................................................................................14 2 Rebalancing Macroeconomic Imbalances in the Philippines ........17 2.1 Introduction ...............................................................................................17 2.2 Growth trends.............................................................................................18 2.2.1 The boom-bust cycle .....................................................................19 2.2.2 Unimpressive growth accounting picture ...................................21 2.2.3 Macroeconomic instability and growth........................................26 2.3 Pursuit of higher and sustainable revenue collection ............................27 2.4 How did inflation behave over these years? ............................................31
Load more

Recommended publications
  • PIDS Annual Report 2002
    Philippine Institute for Development Studies Surian sa mga Pag-aaral Pangkaunlaran ng Pilipinas 2002 Annual Report Table of contents The Institute ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ ii ○○○○○○○○○○○○○○○○○○○○○○○○○ The President’s message ○○○○○○○○○○○○○ iii Proclamation No. 247 declaring the month of September of every year as Development Policy Research Month ○○○○○○○○○○○○○○○○○○○○○○○○○○○○ v Looking back ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ vi ○○○○○○○ Research and research-related activities ○○○○○○○○○○○○○○○○○○○○○○ 1 Research dissemination and utilization ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ 9 Management information ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ 17 ○○○○○○○○○ Investment and financial operations ○○○○○○○○○○○○○○○○○○○○○○○ 19 ○○○○○○○○○○○○○○○○○○○○○○○ PIDS Provident Fund ○○○○○○○○○○○○○○○○○○ 20 ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ PIDS Employees Association ○○○○ 22 Annexes ○○○○○○○○○○○○○○○○○○○○○○○○○○ A Completed studies/projects ○○○○○○○ 23 B Ongoing studies and projects ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ 25 ○○○○○○○○○○○○○○ C Project proposals developed ○○○○○○○○○○○○○○○○○○○ 27 ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ D Public affairs ○○○○○○○○○○○○ 28 ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ E Media exposure ○○○○○○○ 34 ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ F Publications ○○○○○○○○○○ 36 ○○○○○○○○○○○○○○○○○○○○○○○○○○○○ G Audit certificate ○○○○○○○○○○○○ 39 H Balance sheet ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ 40 I Income statement ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ 41 ○○○○○○○○○○○○○○○○○○○○○○○○○○○○○ J Statement of cash flows ○○○○○○○ 42 ○○○○○○○○○○○○○ K Notes to PIDS
    [Show full text]
  • Labor Policy Analysis for Jobs Expansion and Development
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Orbeta, Aniceto Jr. C.; Paqueo, Vicente B.; Lanzona, Leonardo Jr. A.; Dulay, Dean Gerard C. Working Paper Labor Policy Analysis for Jobs Expansion and Development PIDS Discussion Paper Series, No. 2014-34 Provided in Cooperation with: Philippine Institute for Development Studies (PIDS), Philippines Suggested Citation: Orbeta, Aniceto Jr. C.; Paqueo, Vicente B.; Lanzona, Leonardo Jr. A.; Dulay, Dean Gerard C. (2014) : Labor Policy Analysis for Jobs Expansion and Development, PIDS Discussion Paper Series, No. 2014-34, Philippine Institute for Development Studies (PIDS), Makati City This Version is available at: http://hdl.handle.net/10419/127011 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Philippine Institute for Development Studies Surian sa mga Pag-aaral Pangkaunlaran ng Pilipinas Labor Policy Analysis for Jobs Expansion and Development Vicente B.
    [Show full text]
  • Curriculum Vitae 1 Joseph Y
    Curriculum Vitae 1 Joseph Y. Lim ------------------------------------------------------------------------------------------------------ Curriculum Vitae Name JOSEPH ANTHONY Y. LIM Date of Birth September 4, 1952 Nationality Filipino Home Address 3-D 12th St., New Manila, Quezon City, Philippines 1100 Office Address Economics Department, Ateneo de Manila University, Loyola, Quezon City, Philippines Contact Information 415 6684 and 09192269793, [email protected] and [email protected] Education B.S. Management Engineering : Ateneo de Manila University, 1974 (Magna Cum Laude) M.S. Operation Research : Massachusetts Institute of Technology,1976 Ph.D. Economics : University of Pennsylvania, 1985 Post-doctoral Studies : University of Cambridge, 1989 Present Position Professor Economics Department Ateneo de Manila University, Loyola, Quezon City, Philippines June 2005 to present Past Position Policy Adviser on Debt and External Finance for Developing Countries Bureau for Development Policy United Nations Development Programme (UNDP), New York 2002-2004 Curriculum Vitae 2 Joseph Y. Lim ------------------------------------------------------------------------------------------------------ Professor School of Economics University of the Philippines, Diliman, Quezon City 1978 to May 2005 Published and Other Papers 1985 - "The Monetarist Models of Inflation: The Case of the Philippines," Philippine Review of Economics and Business, Vol. 22, Nos. 3-4, September-December 1985. - (co-author with Florian Alburo, Dante Canlas, Emmanuel de Dios,
    [Show full text]
  • The Politics of Economic Reform in the Philippines the Case of Banking Sector Reform Between 1986 and 1995
    The Politics of Economic Reform in the Philippines The Case of Banking Sector Reform between 1986 and 1995 A thesis submitted for the degree of PhD School of Oriental and African Studies (SOAS) University of London 2005 Shingo MIKAMO ProQuest Number: 10673052 All rights reserved INFORMATION TO ALL USERS The quality of this reproduction is dependent upon the quality of the copy submitted. In the unlikely event that the author did not send a com plete manuscript and there are missing pages, these will be noted. Also, if material had to be removed, a note will indicate the deletion. uest ProQuest 10673052 Published by ProQuest LLC(2017). Copyright of the Dissertation is held by the Author. All rights reserved. This work is protected against unauthorized copying under Title 17, United States C ode Microform Edition © ProQuest LLC. ProQuest LLC. 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106- 1346 2 Abstract This thesis is about the political economy of the Philippines in the process of recovery from the ruin of economic crisis in the early 1980s. It examines the dynamics of Philippine politics by focussing on banking sector reform between 1986 and 1995. After the economic turmoil of the early 1980s, the economy recovered between 1986 and 1996 under the Aquino and Ramos governments, although the country is still facing numerous economic challenges. After the "Asian currency crisis" of 1997, the economy inevitably decelerated again. However, the Philippines was seen as one of the economies least adversely affected by the rapid depreciation of its currency. The existing literature tends to stress the roles played by international financial structures, the policy preferences of the IMF, the World Bank and the US government and the interests of the dominant social force as decisive factors underlying economic and banking reform policy-making in the Philippines.
    [Show full text]
  • Infrastructure for Supporting Inclusive Growth and Poverty Reduction in Asia
    Munich Personal RePEc Archive Infrastructure and Inclusive Growth Pernia, Ernesto Asian Development Bank 2012 Online at https://mpra.ub.uni-muenchen.de/104910/ MPRA Paper No. 104910, posted 13 Jan 2021 13:49 UTC Infrastructure for Supporting Inclusive Growth and Poverty Reduction in Asia Infrastructure for Supporting Inclusive Growth and Poverty Reduction in Asia © 2012 Asian Development Bank All rights reserved. Published in 2012. Printed in Philippines. ISBN 978-92-9092-616-0 (Print) ISBN 978-92-9092-617-7 (PDF) Publication Stock No. BKK124355 Cataloging-In-Publication Data Asian Development Bank. Infrastructure for supporting inclusive growth and poverty reduction in Asia. Mandaluyong City, Philippines: Asian Development Bank, 2012. 1. Infrastructure. 2. Inclusive growth. 3. Poverty reduction. 4. Asia. I. Asian Development Bank. The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. ADB encourages printing or copying information exclusively for personal and noncommercial use with proper acknowledgment of ADB. Users are restricted from reselling, redistributing, or creating derivative works for commercial purposes without the express, written consent of ADB.
    [Show full text]
  • 2003 ASIAN DEVELOPMENT REVIEW Volume 20
    PHHQ esex2hiivywix2isi 2olume2PH olume2PH PHHQ 22222xumer2I poreign2hiret2snvestmentX2rendsD2swD nd2y2xegotitions hougls2rF2frooksD2imm2ioqin2pnD2nd2ve2F2umulong ehnologil2pillovers2from2poreign2hiret2snvestment e2urvey imm2ioqin2pn he2ole2of2heentrliztion2in2romoting2iffetive2hooling in2heveloping2esi tere2F2fehrmnD2enil2fF2heollikrD2nd2veeEing2oon vessons2of2the2esin2pinnil2grisisX ht2gn2n2irly2rning2ystem2wodel2ell2 sc tuzhong2hung2nd2wlolm2howling 2222222222 xumer2I Asian Development Bank 6 ADB Avenue, Mandaluyong City P.O. Box 789 0980 Manila, Philippines http://www.adb.org/Economics ISSN: 0116-1105 Publication Stock No.: 090403 Printed in the Philippines isiesex2hiivywix Editor Ifzal Ali Managing Editor Ernesto M. Pernia Editorial Assistant Cherry Lynn T. Zafaralla Editorial Board MONTEK AHLUWALIA, International Monetary Fund PETER MCCAWLEY, Asian Development Bank MOHAMMED ARIFF, Malaysian Institute of Institute, Tokyo Economic Research SEIJI NAYA, Department of Economic JERE BEHRMAN, University of Pennsylvania Development & Tourism, Honolulu PRANAB BHARDAN, University of California, M. G. QUIBRIA, Asian Development Bank Berkeley MARTIN RAVALLION, World Bank NANCY BIRDSALL, Center for Global Development, AMARTYA SEN, Trinity College, Cambridge Washington, D.C. BINAYAK SEN, Bangladesh Institute of RAUL V. FABELLA, University of the Philippines Development Studies YUJIRO HAYAMI, GRIPS/FASID Joint Graduate HADI SOESASTRO, Centre for Strategic Program, Tokyo and International Studies, Jakarta ULRICH HIEMENZ, OECD Development Centre
    [Show full text]
  • Poverty in the Philippines
    SERD spread final tyl2.indd 1 11/23/09 12:10 PM POVERTY IN THE PHILIPPINES CAUSES, CONSTRAINTS, AND OPPORTUNITIES © 2009 Asian Development Bank All rights reserved. Published 2009. Printed in the Philippines. ISBN 978-971-561-857-1 Publication Stock No. RPT090621 Cataloging-In-Publication Data Asian Development Bank. Poverty in the Philippines: causes, constraints, and opportunities. Mandaluyong City, Philippines: Asian Development Bank, 2009. 1. Poverty. 2. Philippines. I. Asian Development Bank. The views expressed in this book are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area ADB encourages printing or copying information exclusively for personal and noncommercial use with proper acknowledgment of ADB. Users are restricted from reselling, redistributing, or creating derivative works for commercial purposes without the express, written consent of ADB. Note: In this report, “$” refers to US dollars, “P” refers to Philippine pesos. Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines Tel +63 2 632 4444 Fax +63 2 636 2444 www.adb.org For orders, contact Department of External Relations Fax +63 2 636 2648 [email protected] CONTENTS LIST OF TABLES, FIGURES, BOXES, AND APPENDIXES ...........................................
    [Show full text]
  • (UPOU). an Explorat
    his paper is a self-reflection on the state of openness of the University of the Philippines Open University (UPOU). An exploratory and descriptive study, it aims not only to define the elements of openness of UPOU, but also to unravel the causes and solutions to the issues and concerns that limit its options to becoming a truly open university. It is based on four parameters of openness, which are widely universal in the literature, e.g., open admissions, open curricula, distance education at scale, and the co-creation, sharing and use of open educational resources (OER). It draws from the perception survey among peers, which the author conducted in UPOU in July and August 2012. It also relies on relevant secondary materials on the subject. What if you could revisit and download the questions you took during the UPCAT (University of the Philippines College Admission Test)? I received information that this will soon be a possibility. It’s not yet official though. For some people, including yours truly, this is the same set of questions that made and unmade dreams. Not all UPCAT takers make it. Only a small fraction pass the test. Some of the passers see it as a blessing. Some see it as fuel, firing their desire to keep working harder. Some see it as an entitlement — instant membership to an elite group. Whatever its worth, the UPCAT is the entryway to the University of the Philippines, a scholastic community with a unique and celebrated tradition spanning more than a century. But take heed — none of its legacy would have been possible if not for the hard work of Filipino taxpayers.
    [Show full text]
  • The Global Challenge in Services Trade
    THE GLOBAL CHALLENGE IN SERVICES TRADE A Look at Philippine Competitiveness THE GLOBAL CHALLENGE IN SERVICES TRADE A Look at Philippine Competitiveness Edited by Gloria O. Pasadilla PHILIPPINE INSTITUTE FOR DEVELOPMENT STUDIES Surian sa mga Pag-aaral Pangkaunlaran ng Pilipinas Copyright 2006 by the Philippine Institute for Development Studies (PIDS) and the German Technical Cooperation (GTZ) Printed in the Philippines. All rights reserved. The findings, interpretations, and conclusions in this volume are those of the authors and do not necessarily reflect those of GTZ and PIDS and other institutions associated with the studies presented in this volume. Please address all inquiries to: PHILIPPINE INSTITUTE FOR DEVELOPMENT STUDIES NEDA sa Makati Building, 106 Amorsolo St. Legaspi Village, 1229 Makati City, Philippines Tel.: +63-2 8942584; 8935705 Fax: +63-2 8939589; 8942584 Email: [email protected] Website: http://www.pids.gov.ph ISBN 978-971-564-056-5 RP 09-06-500 Photo credits (cover): PIDS photo files (first and second rows, left photos); The Farm at San Benito (first row, right photo); for collage, second row, right photo: www.hpproductions/ lc.com/production.htm (reel, foreground); www.elitehomevacations.com/images/film.jpg (reel, background); www.ststours.ca/cms_images/clapper.jpg (clapper, foreground). iv Table of Contents List of Tables ……………………………………………………………………………… vii List of Figures and Boxes ………………………………………………………… xi List of Appendices ……………………………………………………………………… xiv Foreword Josef T. Yap …………………………………………………………………
    [Show full text]
  • Policy Research
    There are no arguments against, and the evidences abound for the contributions and influences of the Philippine Institute for Development Studies (PIDS) on the socioeconomic leaders of our country in the creation of policies and decisions for nation building. The PIDS members have done this through its 40 years of dedicated research and analysis aimed at producing evidence-based studies that would lead to salutary policies. Founded 40 years ago on September 26, 1977 by the then director-general of the National Economic and Development Authority, the visionary Gerardo Sicat, PIDS was initially designed as a government-owned research institution that will provide independent advice to policymakers. Over the years, the Institute evolved into a reputable and respectable think tank that is ranked among the best think tanks in the world. Indeed, there are valid and compelling reasons to celebrate the achievements of the Institute. And there is no better way of celebration than through a chronicle of its achievements with the publication of a book titled, From Evidence to Policy: Celebrating 40 Years of Policy Research. It will preserve and enshrine for posterity the 40 years of tedious research and analysis done by the members of PIDS who labored to produce data-driven, independent, and credible policy studies for the benefit of policymakers, and ultimately, for the well-being of our people. As an economist and a socioeconomic-analyst-turned-lawmaker, I salute the members and leaders of PIDS for their credible contributions for the guidance of our nation builders. Rest assured of my continued support by way of legislations and other means.
    [Show full text]
  • Pidswp8917.Pdf (1.546Mb)
    RECENT POLICY-ORIENTED RESEARCH AND CURRENT POLICY ISSUES: A CURSORY REVIEW Fito logo Pante, Jr., and Mario B. Lamberte WORKING PAPER SERIES NO. 89-17 December 1989 Philippine Institute for Development Studies TABLE OF CONTENTS I. Introduction 1 II. Review of Policy-Oriented Research 3 A. Studies Dealing with the 1983-1984 Economic Crisis.. 3 B. Trade and Industrial Policies 4 C. Agricultural Policies 7 D. Natural Resources and Environmental Management 10 1. Forest Resources Management 10 2. Fisheries 12 3. Minerals and Mineral Conservation 15 4. Environmental Management 15 E. Financial Policies 15 1. Fiscal Policies 15 2. Monetary Banking and Exchange Rate Policies .... 17 F. Energy 19 G. Rural, Urban, and Regional Development 21 H. Poverty and Equity 22 I. Population and Human Resource Development 24 1. Population Policies 24 2. Housing Policy 25 3. Health Policy 25 4. Education 26 5. Employment 27 J. Macroeconometric Modelling 27 III. Current and Emerging Policy Issues 29 A. External Debt Management 30 B. Macro-economic Management 31 C. Population and Human Resources Development 32 D. Natural Resources and Environmental Management 33 E. Regional and Rural Development; Decentralization ... 33 F. Sectoral Policies 34 G. Effectiveness of ODA 35 H. Science and Technology Policies ' 35 V. Concluding Remarks 36 Bibliography 37 RECENT POLICY-ORIENTED RESEARCH AND CURRENT POLICY ISSUES: A CURSORY REVIEW Filologo Pante, Jr. and Mario B. Lamberte* I. INTRODUCTION A good number of policy-oriented studies on Philippine social and economic development have been undertaken in the last five years. Many of these studies have had a profound impact on the policies adopted by the current government under President Corazon C.
    [Show full text]
  • Souvenir Program
    Souvenir Program 45th Annual Meeting 14-16 November 2007 Bangko Sentral ng Pilipinas Message from the BSP Governor Bangko Sentral ng Pilipinas OFFICE OF THE GOVERNOR 2 Message from the PES President OFFICE OF THE PRESIDENT 3 Philippine Th e Philippine Economic Society (PES) was established Economic in August 1962 as a nonstock, nonprofi t professional Society organization of ECONOMISTS. (PES) Over the years, the Society has served as one of the strongest networks of economists in the academe, government, and business sector. Recognized in the international community of professional economic associations and a founding member of the Federation of Asean Economic Associations (FAEA), the PES is truly a signifi cant national and international institution. Th e PES continuously provides a venue for open and free discussions of a wide range of policy issues through its conferences and symposia. Th rough its journal, the Philippine Review of Economics, which it jointly publishes with the UP School of Economics, the Society performs a major role in improving the standard of economic research in the country and in disseminating new research fi ndings. For more information about the Society, please visit its website www.phileconsociety.org. PES SECRETARIAT Asia-Pacifi c Policy Center Rms. 303-304, Philippine Social Science Center Commonwealth Avenue Quezon City Telefax: 926.4615 email: [email protected] 4 45th Annual Meeting 14-16 November 2007 Bangko Sentral ng Pilipinas Conference Program 5 45th Annual Meeting Day 1. Wednesday, 14 November 14 November 2007 Master of Ceremonies TERESO TULLAO, JR. De La Salle University 08:00 AM REGISTRATION 09:00 AM OPENING CEREMONY • Pambansang Awit ng Pilipinas • Welcome Remarks AMANDO M.
    [Show full text]