Browsing by Author "Bautista, Romeo M."

Now showing 1 - 14 of 14
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    A domestic resource cost analysis of the pulp and paper industry
    (1979-03) Villanueva, Miguela F.; Bautista, Romeo M.
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    An attempt at using a recursive system to predict the quantity of money balances held in Thailand: 1955-1969
    (1971-06) Tongkam, Suthon; Bautista, Romeo M.
    The purpose of this paper is to determine whether a certain class of simultaneous difference equation systems can be applied for predicting the aggregate quantity of money balances in Thailand from 1955 to 1969. The system is treated as being recursive. One important reason for the desirability of recursive system is the explicitness of causality in such models. Computationally too, recursive systems have an advantage in that, in general, single least-squares estimation of the structural parameters does not introduce simultaneous equation bias, and is equivalent to maximum likelihood estimation. This makes recursive systems doubly advantageous; there are, of course, other reasons for preferring them. What we shall try to do in this paper is, firstly to estimate the structural parameters of the system. Then, we shall estimate the truncated one- period multipliers of the system. Finally, we shall ascertain the ex post predictive efficacy of the system in two ways: (a) by the method of structural forecasting, and (b) by the method of reduced form forecasting. The last section of the paper will be devoted to obtaining the characteristic equation, or final form, of the system to enable us to determine the characteristic response of the system, given the initial conditions.
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    An input-output study of the Philippine wood-based industries
    (1978-05) Viliran, Ester A.; Bautista, Romeo M.
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    Capital coefficients in Philippine manufacturing industries: estimation and analysis
    (1966-05) Bautista, Romeo M.; Sicat, Gerardo P.
    Capital coefficient estimates based on capacity output are derived for the twenty 2-digit (ISIC) manufacturing indus tries and the nine 3-digit (ISIC) food groups. A sample survey was conducted to provide estimates of the capacity utilization rate of manufacturing establishments in 1961 for use in the calculation of capacity output. It is noted that for an underdeveloped economy, Philippine manufacturing firms seem to operate at significant excess capacity. A number of reasons are offered which serve to support this observation. Book value of capital assets in each industry (obtained from the 1961 Economic Census) is divided by the corresponding estimate of capacity output to arrive at the depreciated capital coefficient estimate. Estimates based on equipment, fixed assets (excluding land), and total capital-- representing different measures of the extent of capital use, are presented. The incremental capital coefficient estimate, which would serve to forecast investment requirements for the expansion of industrial capacity, is approximated by the undepreciated average coefficient. A theoretical explanation is provided in support of the empirically established similarity between the two types of capital coefficient. An estimating equation for the undepreciated value of equipment, which puts together the influences of price changes, growth of capital assets, and lifespan of equipment, is developed. Using this equation and the estimated values of capacity output, capital coefficient estimates based on undepreciated value of equipment are derived. No significant correlation is found to exist between the durability of product and of equipment and the size of the industry's capital coefficient. The theoretical implications are examined. The coefficient estimates are compared with those obtained for corresponding industries in Japan and the United States. There is no evidence that capital coefficients are higher in the advanced economics considered. In fact, Philippine coefficients are shown to be highest in several industries. The observation that the rankings of the industries by size of the capital coefficient in the three countries differ significantly is also noted. It is demonstrated that differences in industrial structure made possible the higher coefficient values for the Philippines in several industries. Factor market imperfections lead to a situation where capital and labor are priced lower and higher, respectively, then their true scarcity values. Lastly, the limitation imposed by technology results in methods of production different from those suggested by factor endowments.
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    Capital utilization in government 'favored' export-oriented firms
    (1974-06) Diokno, Benjamin E.; Bautista, Romeo M.
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    Export supply functions of Thailand's rubber: 1957-1977
    (1979-06) Kiatichai, Vesdapunt; Bautista, Romeo M.
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    Import smuggling in the Philippines: an economic analysis
    (1983-07) Alano, Bienvenido P. Jr.; Bautista, Romeo M.
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    The leather and leather goods industry in the Philippines: a domestic resource cost study
    (1979-01) Malaluan, Martin T. Jr.; Bautista, Romeo M.
    The leather and leather goods industry in the Philippines is considered one of the dollar earners for the economy and a major one in the future. This is in addition to its significant contribution in generating employment and value-added in the economy. Evaluating the industry based on the domestic resource cost criterion across the years, it was found out that only the tanning process had relatively efficient production in 1969. For the year 1974, the leather goods sub-industries emerged comparatively advantageous. The change in the competitive position of the three sub-industries across the years was due mainly to increases in costs and changes in implicit tariffs. the firm level data gathered for 1977, the footwear and other leather products sub-industries had DRC estimates lower than the estimated shadow exchange rates which is consistent with the 1974 results. DRC variation across firms was found to be caused by the age of the plant, capacity utilization rate and factor intensities of the firm. However, the most important factor is the differences in factor intensities. The study revealed that the more capital intensive (or the less labor intensive) is the firm, the greater is the absolute value of DRC. Almost all of the respondents agree that their business operations would be affected adversely if government incentives offered to them are withdrawn. The respondents also agree that in order for the government to help them succeed in their ventures and later on decide to export, credit should be eased, technical assistance should be given, hoarding of raw materials and components should be stopped, and price control on raw materials should be instituted. Export information should also be disseminated. The results showed that the present policy environment should be reassessed in the light of firm's operations. Further restructuring the protection offered to the sub-industries, in particular, lowering the tariff duty on leather imports would enable the economy to save or earn more foreign exchange. This would also encourage the production of better quality exports of leather manufactures.
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    The structure and behavior of imports of Thailand: 1958-1976
    (1979-03) Prattana, Uswarangsri; Bautista, Romeo M.
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    Uncertainty and the choice of technique in Philippine sugar factories, 1965-74
    (1979-05) Avestruz, Fred S.; Bautista, Romeo M.