Browsing by Author "Calub, Renz Adrian T."

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    A theoretical and empirical analysis on the relationship between payment schemes and physician quality
    (2014-05) Calub, Renz Adrian T.; Kraft, Aleli D.
    Physicians are expected to provide the best health care to their patients; however, it cannot be discounted that their practice is driven primarily by incentives. Empirical and theoretical studies have elaborated on the impact of payment schemes on physician output but have limited discussions on quality of services. In this paper, we reinvestigate such relationship by constructing a theoretical model of the relationship between compensation schemes and quality of services and testing such using a special physician test to gauge quality. Given that physicians can endogenously choose their payment scheme, we conduct multiple treatment effects regression to measure the impact of selecting among fixed payment, fee-for-service, and mixed payment on vignette scores and the standard deviation from a given benchmark while accounting for a facility factor that induces such selection. Results show that after accounting for the selection of the payment scheme, FFS and mixed payment yield higher scores than fixed payment, indicating that physicians are still below the best level of quality and that incentives to improve are still present. The results on mixed payment also highlight the potential of Philhealth as a fee-for-service component to motivate quality of care.
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    Financial development and economic growth in the Philippines: a vector error correction model approach
    (2009-10) Calub, Renz Adrian T.; Llido, Christian May L.; Tecson, Gwendolyn R.
    Theoretically and empirically, financial development has been associated with economic growth. Many studies point out the existence of a positive relationship between developing the financial sector and the growth of the real economy. The financial sector channels funds to the productive sectors of the real economy. On the other hand, there are studies asserting that real economic growth precedes financial development. The real economy demands the services of the financial sector. While the former may be true across countries, does this hold true on a case to case basis such as the Philippines? To answer this, we employ vector error correction modelling on an economic growth indicator (real GDP), financial development indicators (M2 to GDP ratio and GVA of finance), and a stock market development indicator (total value of shares traded over GDP). We also use the impulse response function to augment the results from the vector error correction model. The estimation showed that in the Philippines, financial development is preceded by economic growth, although after a certain period, financial development becomes a significant factor to economic growth. The results imply that the Philippine financial sector has not yet attained a relatively sophisticated state where its positive effect on real economy can be realized. Furthermore, while the economy and the financial sector are demand-following, this does not preclude the necessity of employing policies that could maximize the benefits from the interaction of the financial sector and the real economy.