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Item Restricted An examination of the theory of types as a solution to the paradoxes(1954-08) Encarnacion, Jose Jr.; Pascual, Ricardo R.Item Restricted Patterns of Philippine public expenditure and revenue, 1951-1960(1962-11-12) Abello, Amelia B.; Kintanar, Agustin Jr.Item Restricted Price and market relationships for corn in the Philippines(1965-01) Recto, Aida E.; Ruttan, Vernon W.The objective of this study is to analyze production, price and market relationships for corn in the Philippines and its nine regions. Particular attention is given to estimation of supply relationships. A theoretical framework was formulated for a complete empirical analysis of supply and demand relationships for corn. The supply response functions were estimated statistically using the linear regression techniques. Both simple and distributed lag supply relationships were estimated. The rapid increase in the production of corn in the Philippines has resulted primarily from an increase in area. Corn yields have remained relatively stable at about 10 cavans (570 kgs) per hectare since the early 1930's. This implies that yield relationships can, for the most part, be ignored and that the supply analysis be focused primarily on the response of area to price and other factors. The secular and seasonal patterns of farm, wholesale and retail prices of corn as well as their margins were analyzed. From a policy viewpoint, an analysis of the price margins is important in understanding the implications of government price policies at various levels. Price changes at any one level of the marketing system result in efficient shifts in production and consumption only if the marketing system reflects changes in demand at the consumer level back to the producer and if it transmits the price effects of a change in supply from the farm to the retail level. It appears, from this analysis, that the marketing system does perform these functions efficiently. The supply analysis indicates that in most regions Philippine farmers do respond to changes in the price of corn relative to alternative crops by shifting acreage in the same direction as the relative price changes. The short run elasticities of corn hectarage with respect to price which ranged typically from +.10 - +.60 were found comparable with those of the same crop and other subsistence crops in other Asian countries. Besides the price of corn, alternative crop prices, agricultural wage rates and technology were important factors in influencing corn hectarage in the Philippines.Item Restricted The response of Philippine rice farmers to price(1965-01) Mangahas, Mahar; Ruttan, Vernon W.This thesis aims (a) at estimating the response of the output and marketable surplus of rice to price incentives, for the Philippines as a whole and for each of the several regions, and (b) at determining existing relationships among rice prices at different market levels. The latter aim is handled by straightforward methods for analyzing secular trend and seasonal variation. A competitive model for the rice economy of a region is constructed, of which the output response function is a part. An important consideration is that a significant portion of rice output is channeled towards home consumption. Among the estimation models considered, the simple linear and the distributed lag adjustment models are used to estimate output response, and Krishna's indirect method is used to estimate marketable surplus response. Price response is estimated to be positive, at levels comparable with those computed for other Asian underdeveloped countries. The response estimates and the estimated relationships among rice prices at different market levels provide needed empirical bases for policy decisions, particularly those regarding government support for rice farm prices.Item Restricted Foreign loans and economic development: a study of the Philippines, 1906-1963(1965-05-10) Jurado, Gonzalo M.; Castro, Amado A.Item Restricted U.S. direct investments in Philippine manufacturing industry(1965-08) Surapath, Tiamchai; Gregorio, Reynaldo J.This study, in particular, is an inquiry into the trends and role of U.S. direct investments in Philippine manufacturing industry, their nature and effects on the course of Philippine industrial development from 1954 to 1963. It is an analysis of a complex problem as regards the role of American investments in Philippine economic development. Until recently, the issue related to economic relations between the Philippines and the United States has been given increasing attention. Several economic aspects have been brought under close examination and re-examination. Much has been discussed with regard to the pros and cons of foreign investment in general and American investment for that matter in particular, such that this issue has virtually become, more often than not, a controversial and often misunderstood subject. This is some sort of misgivings despite the fact that the Philippines, having vigorously pursued on the socio-economic development program as such, needs imperatively the assistance from foreign capital for the high attainment of her economic development. And yet, it seems that little effort has been done towards that direction as regards such urgent need. American capital, on the other hand, does not flow into the Philippines in such a substantial amount as it might be expected notwithstanding the high profitability of investment, privileges and several advantageous positions it already enjoyed over the Philippine atmosphere, due to the changing local attitude towards foreign capital. The emergence of the local entrepreneurial class and its consequential effects with which it brings about, in connection with the economic nationalism sentiment that prevails, have rendered, to some extent, unfavorable climate and undesirable consequence. It is important therefore that the significant aspect of this controversial subject be clarified and a better mutual understanding be brought about to give an assurance that there is definitely a more appropriate and logical way to achieve the better partners for economic progress. Foreign capital in the Philippines is essentially American. And U.S. direct investments in Philippine manufacturing industry in particular have been fast becoming the most prominent sector; accordingly, several aspects of American investment in this sector are deliberately scrutinized and evaluated in this study. A number of hitherto untapped economic and statistical sources have been utilized to support the analysis. The net result of the study provides grounds for valid arguments as regards the praises and defects of U.S. direct investments in Philippine manufacturing industry, such that some but most appropriate measures and policies governing them can be expected to materialize with the end in view to utilize such investments to the fullest extent for ultimate benefits of the Philippine economic development.Item Restricted Some physical applications of the transformation by reciprocal radii(1965-08) Danao, Rolando R.; Favila, Raymundo A.The present study deals with solving some potential problems chiefly by means of the transformation by reciprocal radii or by the method of inversion. It aims to illustrate the power of this method by some examples which, though difficult to solve by analytical means, easily yield to simple mathematical treatment after the transformation is established. A given potential problem is solved by transforming it, whenever possible, into another problem which is either simple or whose solution is known. Conversely, if a problem and its solution are given, an entirely new problem can be formulated by this transformation and its solution is readily obtained from the solution of the original problem. This makes this method a powerful tool in solving many potential problems. Direct calculation of gravitational or electric potentials oftentimes involve the evaluation of integrals which do not lend easily to rapid progress. However, such an analytical difficulty can be avoided by the method of inversion. The following examples are included in this paper: (1) The potential of a homogeneous circular wire, (2) the potential of a spherical surface, (3) the potential of a spherical shell with a surface density that varies inversely as the cube of its distance from a point not on the sphere, (4) the balayag of a sphere, (5) the solution of the Dirichlet problem for the exterior of a sphere, and (6) the potential of two non-intersecting spherical conductors influenced by a point-charge exterior to both.Item Restricted The prospects of the rubber industry in the Philippines(1966-05) Changsirivathamrong, Boonkul; Sirkin, GeraldWhile rubber growing in the Philippines started in 1906, production of natural rubber began only in 1915. On the other hand, the birth of Philippine rubber manufacturing was simultaneous with the entry of rubber shoe manufacturing into Philippine manufacturing industry in 1933. More than half of natural rubber production was exported during the early years because the domestic manufacturing industries were incapable of absorbing all of it. However, the situation was reversed with the establishment of Goodyear and Goodrich tire companies in 1956 and of Firestone in 1957. The supply of natural rubber produced locally has lagged far behind the domestic consumption requirements of natural rubber since 1956, and the deficiency has been steadily rising ever since. The Philippines, as a result, changed her position from an exporter to that of an importer of natural rubber. Consequently, the amount of imports of crude rubber has continually risen due to increasing home consumption requirements. This thesis endeavors to examine whether or not the Philippine natural rubber and rubber manufacturing industries have bright prospects for expansion, especially, the possibility of natural rubber industry to augment its production to the extent of not only substituting for the rising importation of crude rubber to meet the increasing demand of domestic rubber manufactures, but also exporting natural rubber, thereby earning foreign exchange which is essential in accelerating the pace of Philippine economic development. This study also hopes to enrich the literature concerning economic analysis of the Philippine industry - both natural rubber and rubber manufacturing industries - by collecting and analyzing all available information relevant to Philippine rubber industry with the use of books, articles, government and private publications and reports, as well as personal interviews. Up to the present time, there is a dearth in the literature dealing with economic analysis of the Philippine rubber industry. This situation has made the evaluation of its development, economic contributions, problems, and future prospects extremely difficult, if not at all impossible. Findings show that the Philippine rubber industry, both natural rubber and rubber manufacturing industries, has bright prospects for future expansion. Nevertheless, the former has brighter prospects for expansion than the latter. The Philippine natural rubber industry can successfully compete with the world natural rubber industry. As a consequence, it can increase natural rubber production in excess of home consumption requirements, and export the surplus to earn foreign exchange which is vital to Philippine economic development. On the other hand, the increase of production of Philippine rubber manufactures depends on the extent to which the domestic market can expand inasmuch as large-scale export of Philippine rubber manufactures is yet impossible on account of keen competition abroad. The result of the study also shows that Philippine natural rubber and rubber manufacturing industries have immensely contributed to the growth and stability of the Philippine economy from the standpoint of employment, capital information, foreign exchange, development of allied industries and product diversification. In addition, the study accomplished the difficult and laborious task of gathering all the pertinent information and data regarding Philippine rubber industry so that a clearer picture of the growth and development of the Philippine rubber industry can be supplied to interested readers and to impart to them a better insight of the Philippine rubber industry. Since both domestic natural rubber and rubber manufacturing industries, particularly the former, have bright prospects for future expansion, and the fact that these industries have been contributing significantly to Philippine economic development and industrialization, the Philippine government should adopt imperative measures to stimulate their growth and development in pursuance of its policy to accelerate the pace of Philippine economic development.Item Restricted 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.Item Restricted Financial growth and economic development: the Philippines(1966-05-22) Villanueva, Delano P.; Hooley, Richard W.The study discusses the financial aspects of economic development. Using data for the Philippines that cover a decade and a half, it attempts to explain the growth of debt, financial aspects, and financial institutions within the context of real development. The study notes that, in the Philippines, while the proportion of GNP that is externally financed was rising, the proportion that is indirectly financed was also rising and, of course, the proportion that is directly financed was falling. This means that a growing portion of security issues was being sold to the financial system. The accumulations of financial assets have been relatively more and more in the form of indirect securities (liabilities and equities of the financial system), and less and less in the form of primary securities (liabilities of the non-financial sectors, i.e., government, business and individual and foreign sectors). The advance of financial intermediation during the period was uninterrupted; this was due to the steady growth of the monetary system. Within the monetary system, the pace-setters were commercial, savings, and rural banks combined, at the expense of others, notably, the Central Bank. The counterpart of this is that a growing share of monetary indirect financial assets found their way into spending units' portfolios. More- over, the accumulations of these assets have swung toward bank deposits and way from currency. Japan and the Philippines had roughly equal issues-income ratio over a comparable period. In both countries, too, the issues-income ratio showed an uptrend. Likewise, the indirect finance ratios were roughly equal and showed upward trends. This means that the activity of financial intermediaries was of roughly equal importance in the two countries and was increasingly pronounced lately. It is also found that the financial developments of Mexico and the Philippines were generally similar.Item Restricted Foreign aid: the United States economic and technical assistance program and economic development of the Philippines(1966-06) Florendo, Ronald M.; Gregorio, Reynaldo J.Item Restricted Report taxes in Malaya, 1951-1960: a study of the effects on economic stabilization(1966-07) Yap, Peter K.F.; Castro, Amado A.In view of the increasing magnitude of export instability and the rising cost of the government outlays in most of the primary producing counties in the postwar period, export taxes have received considerable attention in recent discussions of economic development. Using available published data and employing usual techniques for economic analysis, the study examines the experience of Malaya with the use of export taxes, particularly the sliding-scale system imposed on rubber and tin, for the years given the former Malayan government objective of stabilization, the main purpose of this thesis is to analyze how the flexible export taxation system operating in post-Korean-war Malaya's export sector reduced export instability, and thus stabilized the domestic economy. The results indicate that the sliding-scale export taxes have made a major contributions to reducing export instability and this, in turn, stabilizes the internal economy. This is so because in Malaya fluctuations in export proceeds resulted largely in price variations without correspondingly great change in real output; the high degree of responsiveness to change in export prices in her post- war sliding-scale export taxation system has thus been the mainstay of contra-cyclical fiscal policy. This means the changes in the export duty revenue of rubber and tin were more price responsive than the fluctuations of not export proceeds during the period under review. Meanwhile, an increase in remission of factor increases abroad and the massive exodus of private capital during the boom seem to suggest that these were other important stabilization regulators operating on the Malayan economy during the period 1951-1960. The study noted that the Malayan Government was not able to build up sufficient reserves in the boom to sustain development activity for the subsequent periods of recession, mainly because of the rising costs of emergency in the earlier years 1951-1955 and the increasing current and capital expenditures following the years 1956, although the government revenue in the export boom increased more rapidly than expenditure through the operation of a flexible export taxation system. Thus, a decline of export duty proceeds in the periods of subsequent recession created difficulties for the budget and forced the government to curtail anticipated expenditures on economic and social development, in spite of the continuously non-cyclical growth of import duty revenue in the post-Korean-war period. Finally, it is also found that the current account in the balance of payments of Malaya over most of the years under review remained with a favorable balance and a substantial amount of foreign reserves of Malaya's official bodies and monetary authorities was built up over the period. Malaya had no balance of payments difficulties, hence no signal of strong inflation throughout the whole period in question.Item Restricted Philippine rehabilitation financing: with particular reference to the United States Philippine rehabilitation act of 1946(1967-01) Ramirez, Arnulfo R.; Castro, Amado A.Item Restricted The corps of engineers, AFP in the Philippine infrastructural development(1967-01) Mison, Salvador M.; Sicat, Gerardo P.Item Restricted Capital intensity in Philippine manufacturing(1967-04-30) Franco, Ma. Eloisa G.; Power, John H.Item Restricted Stock ownership of resident individuals in Philippine corporations in the 1960's(1967-05) Samson, Elizabeth D.; Hooley, Richard W.Item Restricted The role of export trade in the strategy for the economic development of Taiwan, 1956-1965(1967-09) Chen, Cheng-Shun; Sicat, Gerardo P.Item Restricted Patterns of Thai public revenue and expenditure, 1951-1965(1967-10) Suratanavongkur, Jayathat; Encarnacion, Jose Jr.This research paper studies the patterns of Thai revenue and expenditure for the past fifteen years, 1951-1965. It then considers the Philippines, Burma and other countries of different stages of economic development with respect to the allocation of national resources to various government service projects. Tentative conclusions were arrived at that can have some policy-implications to national planners of Thailand. A close analysis of Thai expenditure shows that, although the level of expenditure in terms of million baht has been on the upward trend, the national expenditure as a proportion to Gross National Product at factor cost fell below the "median" performance of other countries, especially in economic development, social services and slightly in general government. Since Thailand is essentially a military government, the expenditure for national defense is correspondingly high as compared to the "median" figure. In public debt, Thailand surpassed by twice as much the "median". On the overall performance, Thailand and the Philippines are still far from the median level. On the revenue side, foreign trade is the dominant provider of revenue (more than one half of the total) in terms of export and import taxes, while taxes on income and wealth contribute less than ten per cent, showing a regressive tax structure. Both Thailand and the Philippines exhibit regressiveness in the tax structure when compared to the "median" collection of other countries. Both countries were low in direct taxes, especially personal and corporate income taxes, while they are almost at "standard" performance with other countries when it comes to indirect taxes, such as import, excise and sales taxes. However, Thailand surpassed the "median" level in export taxes. On the overall performance, both Thailand and the Philippines are still below the median. In the fifteen years covered in the thesis, Thailand experienced deficit financing, so much so that the country resorted to public borrowings, from both foreign and domestic sources. Since the trend is towards increased levels of expenditures for development purposes, Thailand must aim for higher tax collections. In this direction, the government can explore the possibility of changing the tax structure into a more progressive form through more direct taxes instead of indirect taxes. This will shift the burden of taxation from the poor people to the high income group which has the ability to pay. To sum up, this paper presents a case study, using Thailand's experience, of national budgeting as a tool fort national development.Item Restricted The role of exports in the economic growth of Thailand, 1957-1966(1968-01) Phipatseritham, Krirkkiat; Castro, Amado A.Item Restricted The Philippine abaca industry: 1955-1965(1968-01) Srihadi; Castro, Amado A.