Browsing by Author "de Dios, Emmanuel S."
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Item Restricted A comparative welfare analysis of the duty drawback and the common bonded warehouse schemes(1993-01) Israel, Rex David C.; de Dios, Emmanuel S.This study analyzes the private and social gains of two duty-free incentive schemes that are currently available to small- and medium-sized firms- the duty drawback and the common bonded warehouse schemes. Private and social criteria within the cost-benefit framework were constructed to evaluate the effects of the two schemes on a representative export firm. At the firm level, the study finds that the common bonded warehouse scheme is superior to the duty drawback in effectively decreasing the cost of production and increasing profit. The study makes a modest attempt at evaluating the two schemes at the social level. With some qualifications, the common bonded warehouse scheme may also be socially superior than the duty drawback.Item Restricted A micro-level study of strikes in the Philippines(1996-05) Aldaba, Fernando T.; de Dios, Emmanuel S.Item Restricted College graduates in non-college jobs: measuring overeducation in the Philippine labor market(2018-07) Epetia, Ma. Christina F.; de Dios, Emmanuel S.Item Restricted Commodity concentration and export earnigs instability of Indonesia: 1980-1988(1991-10) Rahmatia; de Dios, Emmanuel S.This study examines the association between commodity concentration and export earnings instability. The thesis is that commodity concentration on one or a few export products as in the case or Indonesia or other developing countries contributes to export earnings instability. The study also compares the 1980-1988 export data or Indonesia with previous periods analyzed before. It also aims at extending the validation that export diversification policy has a limit or that its pursuit must be cautiously undertaken. Using the trade diversification model developed mainly by Love (1979a), which is based on the Markowitz model of portfolio analysis, the impact or diversification is investigated. The relationship between commodity concentration and export earnings instability index was determined using regression analysis as specified by Love (1986). The findings are: 1. There is a highly significant negative association between commodity concentration and export earnings instability, 2. the 1980-1988 period had a lower level of instability with a declining trend in total export earnings compared to previous periods analyzed, and 3. the diversification policy followed had limitations because it did not generate increasing export earnings as expected. The conclusion that can be derived is that trade diversification should be based on a country's dynamic comparative advantages. In the case of Indonesia, it implies a necessary improvement of its competitiveness and the expansion of its markets for exports.Item Restricted Competition and collusion among the few: a theory of market structure and technology(1995-07) Abrenica, Ma. Joy V.; de Dios, Emmanuel S.Item Restricted Direct foreign investment and economic growth of the Thai economy in the 1980s(1994-04) Thongdee, Kijboonchoo; de Dios, Emmanuel S.Item Restricted EC-ASEAN relations(1991-01) Balaoing, Edylinda O.; de Dios, Emmanuel S.The prospect of a more unified and integrated European Community has revived old and persistent questions on what its implications might be on the welfare of non-member countries. This is one of the principal issues dealt with in this present study, focus being given to EC relations with the ASEAN. An analysis of past overall growth rates of EC and ASEAN market shares shows that the reinforcement of European integration could have adversely affected ASEAN countries. Indicators of trade diversion are observed particularly during the period of Spain's and Portugal's accession to the EC. This affected ASEAN's exports of manufactures such as wood products, electronics and textiles. The scope of trade diversion in EC-ASEAN trade is greatest in the product range of manufactures (SITC 6-8) as more overlapping of exports occur in those areas. On the other hand, the analysis of the changing patterns of ASEAN trade towards the exports of manufactures likewise revealed the probable areas where mutually beneficial exchange of tariff reductions could take place.Item Restricted Exchange rates, oil prices, and fiscal deficits in Indonesia: 1967-1990(1994-01) Indrawari; de Dios, Emmanuel S.The short-run consequences of a commodity export boom can differ greatly between developing and developed countries because of differences in the structure of financial markets and the operation of monetary policy. A model with assumptions appropriate for developing countries has been previously outlined by Edwards [1986] and applied to the Colombian experience of a coffee price boom. On the real side, the theoretical structure incorporates the spending effect of a price-based commodity export boom, which tends to raise demand for home goods. On the monetary side, the boom leads to a balance of payments surplus an increase in international reserves. If the increase in reserves is not fully sterilized, the monetary base increases, and inflation tends accelerate. If this money-creation effect of the export boom is large enough, the currency appreciates in real terms. Using Edwards' [1986] model, this paper shows the relationship between the oil sector, money, inflation, the real exchange rate, and the fiscal deficit in Indonesia for the period 1967-90. The results presented tend to confirm some of the main predictions of the model. In particular, these results indicate that higher oil prices have been closely related to greater money creation and inflation. Higher oil prices are linked to currency appreciation. This process of currency appreciation on the other hand, reduces the fiscal deficit. The hypothesis that links the price of oil, the rate of growth of money, the fiscal deficit, and the exchange rate, is confirmed. It is shown that a model that explicitly accounts for the effects of the other variables on the fiscal deficit is superior to one that merely regards the deficit as exogenous.Item Restricted Foreign direct investment and exports: complements or substitutes?(2009-07) Indrawari; de Dios, Emmanuel S.Item Restricted Income and human development: a simultaneous-equations approach(2008-11) Cabalfin, Michael R.; de Dios, Emmanuel S.Over the last 25 years of the past century, human development outcomes in the Philippines improved despite poor economic growth. On the other hand, in spite of the celebrated economic performance in recent years, recent human development outcomes have deteriorated. This study aims to determine whether the recent improvements in incomes resulted from improved household health and education outcomes, why growth has not translated to improvements in human development outcomes, and how education and health outcomes influenced each other. Using data from the Annual Poverty Indicators Survey 2002, this study employs two-stage least squares regression to analyze the simultaneous relationships among income, health and education to determine which aspect is most crucial and to identify priority policies and programs. The instrumental variable regression results reveal the following order of importance in the relationships: 1) income-to-education, 2) health-to-education, 3) education-to-income, 4) income-to-health, 5) health-to-income, and 6) education-to-health. Improvements in income clearly resulted from better education and health among the employed. Education outcomes largely responded positively to consumption. In general, school participation increased with more spending on education, food, clothing, and transportation. On the other hand, health responded only to certain types of spending, particularly spending on clothing. Primary and secondary school participation improved with better health but the endogeneity of illness to tertiary school participation reveals a positive relationship. Illness among adults may motivate rather than hinder tertiary participation. Finally, better education did not improve health outcomes. The results suggest the following priorities for government: in kind subsidies - food-for-school, uniforms, transportation - and scholarship I conditional cash transfers for the poor; improved community I school health services; workfare programs in the short-term and continuing adult entrepreneurial skills training for the longer run; clothing subsidies for the poor; improved working conditions; enhanced health education and improved student environmental conditions.Item Restricted Intra-industry trade: concepts, measures, and patterns (Indonesia, 1975-1990)(1993-05) Yunus, Muhammad; de Dios, Emmanuel S.Item Restricted Nests and houses: essays on housing choice and public policy(2008-04) Monsod, Toby Melissa C.; de Dios, Emmanuel S.Item Restricted Nodal versus zonal pricing in electricity spot markets with perfectly inelastic demand: an analysis of market power exercise and its impact on consumer welfare(2011-06) Navarro, Adoracion M.; de Dios, Emmanuel S.Item Restricted Philipine firms in global value chains: innovation, governance, and upgrading(2019-08) Mendoza, Adrian R.; de Dios, Emmanuel S.Item Restricted Philippine manufacturing performance: reinterpreting stylized facts in light of factor-market distortions(1995-07) Bongolan, Gonzalo B.A.; de Dios, Emmanuel S.The standard two-sector, two-factor model of international trade is made to accommodate distortions in the market for capital to explain why, despite output and input price interventions by government intended to favor manufacturing, the output of the sector as a percent of GDP has been declining. To explain stylized facts of Philippine development, appeal is made to perverse price-output responses in the theory of factor market distortions owing to the non-correspondence of physical and value-factor intensities. Ultimately, the principle involved is traceable to the the Stolper-Samuelson theorem. A regression analysis offers econometric evidence of the pathologies for some years. Besides distortions caused by price interventions, however, the operation of the Rybczynski theorem may also be alluded to as an additional and parallel explanation for poor manufacturing performance. A historical view suggests that these two core theorems of international trade theory must be present in any attempt to explain the stylized Philippine experience.Item Restricted Price and choice of contraceptive care in the Philippines(2003-01) Cabegin, Emily Christi A.; de Dios, Emmanuel S.Item Restricted Regulating the Philippine stock market: the securities regulation code and the information efficiency of Philippine stock prices(2011-10) Del Castillo, Noel B.; de Dios, Emmanuel S.This paper investigates the impact of the Securities Regulation Code (SRC) on the information efficiency of the Philippine stock prices. Research in other countries has shown that new regulation has had a long-term effect in improving the information efficiency of stock prices. The paper replicates those studies using a sample of 38 stocks drawn from listed Philippine companies for the period 1998-2008. The results show an improvement in information efficiency over the period and the significant impact of the SRC.Item Restricted Tariff protection and comparative advantage: Philippine fisheries(2015-12) Reyes, Kenneth S.; de Dios, Emmanuel S.This paper explores several aspects of the Philippine tax system during the American colonial period. It draws attention to the tax structure's mismatch with the Philippine economy following its design 'from above'. Among the key findings of this paper are the following. First, the tax structure was likely not very elastic with respect to import value. The largest revenue source, import duties, is shown to have responded to nominal imports very weakly, suggesting the relative importance of fixed over ad valorem rates. Second, the internal revenue structure was an attempt by the Americans to bring their own system to the Philippines, regardless of whether it suited the colony or not. This led to a narrower tax base than would have prevailed had they designed the structure to suit the Islands' economy. Third, the fiscal decentralization program of the Americans bears striking similarities to the similar program enacted by the Local Revenue Code of 1991. The key difference is that the internal-revenue allotment (IRA) scheme in the American version came to be fixed at nominal levels, leading to a greater reliance on ad hoc subnational transfers among local governments. These analyses are supported by primary data compiled from government reports, the most salient of which are documented in the appendices for use in future research.Item Restricted Thai textile export quota allocation system(1990-01) Noppawan, Swaengkij; de Dios, Emmanuel S.The Thai textile industry has developed from import substitution to export expansion through government promoting investment and foreign investment since the late of 1980s. It has played an important role in Thai economy as the leader in export earnings, value-added, and a major source of high employment. In view of major export earnings, Thai textile exports have faced protectionism in the developed importing countries, particularly the United States and Europe, in t he form of quota restriction. This thesis attempts to investigate the effect of quota restriction under the MFA on total factor productivity, diversification of Thai textile exports, and quota utilization rates in Thai textile industry. In order to study those effects, the Multi-Fiber Arrangement (MFA) and bilateral agreements Thailand made with the US, EC, Sweden, Norway, Canada, Finland, and Austria markets are reviewed. In addition, quota restriction had caused exporting countries to establish quota allocation distribution systems. Therefore, the study was also made on Thai textile quota distribution rules and examine the allocation systems in Hong Kong, Korea and other ASEAN countries. The terms of quota restriction under the MFA have allowed textile exports from developing countries, including Thailand, to penetrate through restrained markets under particular growth rate. Therefore, it is supposed that quota restriction might affect total factor productivity (TFP) of Thai textile exports after being restricted by that export constraint, when comparing to the TFP before the implementation of the quota restriction. Also, the quota may encourage the restricted exporting countries like Thailand, to move into less or non restrained categories and to tap new non-restrained market. In other words, it may induced diversification effect. With the trend of more difficulties in the expansion of Thai textile exports to foreign markets (especially the US and EC) due to high quota utilization rates; increased protectionism, particularly in the US market, high competition from other exporting countries, both dominant and lower-cost ones; there should be more emphasis on diversification of Thai textile exports to non-quota markets and products, and to higher value-added products through upgrading, so that those problems can be overcome and Thai textile export earnings can be increased. Also, more efforts should be made in using the quota which is still underutilized. Finally, an improvement in technical progress, advanced knowledge and investment in human capital are required in order to increase productivity and export earnings of Thai textile industry.Item Restricted The colonial origins of Philippine institutions(2004-04) Cruz, Prince Christian R.; de Dios, Emmanuel S.This paper attempts to trace the origins of Philippine institutions, more specifically, institutions that do not adequately protect property rights and do not provide effective constraints on the actions of the elite. Extending a model developed by Acemoglu, Johnson and Robinson [2001], this paper provides a framework for analyzing the incentive structure faced by individuals that lead them to demand, create and preserve certain institutions. An explicit rational-choice framework is used to derive the demand for institutions of Spanish settlers. Following the basic dictum that institutions evolve to minimize uncertainty, this paper argues that Spaniards in the Philippines developed extractive institutions in order to minimize the uncertainty brought by the high level of mortality and the low level of wealth in the Philippines, and the unstable nature of property rights in Spain and its colonies.