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Item Unknown Political business and budget cycles in the Philippines: a preliminary study(2005-03) Chan, Yasmeen Carina C.This paper presents a preliminary study on political business and budget cycles in the Philippines based on the traditional opportunistic model of political business cycles and using the methods of trend analysis and simple regression to explore the existence of political cycles. Results indicate that political business cycles exist in the Philippines in general but are inconclusive for individual political periods. Political budget cycles on the other hand are not reflected at all in the Philippine macroeconomic data. Interesting though is the negative correlation between inflation and government expenditure contrary to the implications of political cycle theory predictions.