This paper finds the Philippine government debt not sustainable but weakly feasible, making it vulnerable to major adverse shocks. Simple budgetary deficit control policy is inadequate to achieve sustainability or strengthen feasibility.
This paper describes a quarterly macroeconometric model of the Philippine economy. The model demonstrates good forecasting capacity and versatile potential for policy simulations.
This paper attempts to address the general issue whether or not economic openness is beneficial to regional development and poverty reduction in the Philippines.
Deflation can be benign and accompanied by strong economic growth. It can also lead to a downward spiral in output, employment, and demand, in a context where normal policy options cannot be effected.
Using data on the Philippines' 14 regions over the period 1988-2000, this brief illustrates that economic openness appears to be good for regional development and, indirectly, poverty reduction.