2589 results
Search Results
Now showing 1 - 10 of 2589
Item Restricted Participation of offshore banking units (OBUs) in the peso market: implications for domestic credit and the money supply(1980) Africa, Maria Socorro L.; Alburo, Florian A.Item Restricted Consumption patterns of farm households(1980-04) Agcaoili, Mercedita C.; Price, Edwin C.The paper's objective is to determine the demand behavior of the rural households in the Philippines. Measures of demand responses such as marginal budget shares, total expenditure and price elasticities, marginal and average propensities to consume, etc., are estimated. the main thrust, however, is to determine the effects of socio-economic variables such as household size and tenurial status on the demand parameters. Model fitting is carried out using the income and expenditure data gathered from the three outreach sites of the International Rice Research Institute. The cross-sectional data is for three years and includes 20 expenditure items and nine (9) sources of income of about 120 farm households. The observations are grouped further by household size (i.e., large and small) and by tenurial status (i.e., owner-part owner and share-leaseholder). The model is fitted in each of the 117 sub-groups defined. The key findings show the increases in total expenditure among rural households tend to decrease the marginal budget shares of food commodities and to increase those of farm inputs. This seems to imply the growing acceptance of modern technology by small farmers. The results indicate also the presence of economies of scale in household consumption especially those on food commodities. It is, likewise, evident that household size affects the reaction of households towards quality differentials of commodities. Furthermore, the parameters derived for personal expenditure item validate rural household's high regard for education. Based on the results of the research study, two major recommendations are forwarded: i) that government policies be geared such that increased production of a particular commodity can be attained with the use of new-improved technology and inputs provided that farmers (small and large) are convinced that they can realize income increase; and ii) the provision of incentives for enrollment in areas (disciplines and/or skills) that have been identified as necessary to support or provide the trained manpower needs of given sectors that are supposed to provide the lead towards more rapid economic growth.Item Restricted An economic analysis of supply of and demand for rice in Nepal(1980-10) Amatya, Ramesh N.; Alburo, Florian A.This study attempts to add to the understanding of the rice situation at the regional (hill and mountain, and Tarai) and national levels in Nepal. The analysis is primarily based on past trends in consumption, production, prices, procurement and distribution and on estimated supply and demand functions for rice. Between 1967/68 and 1978/79 the production of rice increased at an annual rate of 0.9% whereas the consumption of rice has been increasing at 1.13% per year mainly due to population growth. Area expansion was the more important factor contributing to rice output increase whereas yield accounted for 31% of the growth in output. Yields grew at 0.63% per year for Nepal. Yields in Tarai grew at 0.9% per year whereas yields declined in the hill and mountain regions at 1.16% per year. Low growth rates of yield were due to slow growth in inputs used, availability of irrigated land, and a declining real rice price which is attributed to the government's frequent interference in the market. Price elasticities of rice hectarage are +0.46, +0.10 and +0.13 for the hill and mountain regions, Tarai, and Nepal respectively. Thus, price increases for rice do motivate farmers to plant more rice and thus stimulate rice production. Irrigation is also an important factor in increasing rice hectarage and production. Farmers in the hill and mountain regions are more responsive to irrigation than farmers in Tarai. Relative rice price elasticities of consumption are -.35, -.29 and -.30 for the hill and mountain regions, Tarai, and Nepal respectively. Changes in the relative price of rice significantly affect the demand for rice resulting in the substitution of wheat and maize for rice. Income elasticities of rice demand are +.53, +.20 and +.32 for the hill and mountain regions, Tarai and Nepal, suggesting that consumers in the hill and mountain regions spend higher proportions of their additional income for rice. Rice output is Projected to grow by 1.52% per annum whereas the demand for rice is projected to increase by 2.52% per annum. If those trends prevail Nepal is expected to be an importer of rice before the year 1989-90. However, it is still possible to stimulate rice production in order to meet the growing demand by providing a minimum guaranteed price to rice producers increasing irrigated land and raising the level of other inputs as well as providing production loans. Also, the demand for rice can be curtailed to some extent by changing its price relative to that of wheat and maize, resulting in the substitution of wheat and maize for rice.Item Restricted Limited dependent variables in economic data analysis: an application to fertility behavior and labor force participation of married women, 1973(1980) Aquino, Edwina R.; Canlas, Dante B.Single equation models on the fertility and labor force participation of married women using ordinary least squares (OLS) as an estimation technique can be viewed as subject to some limitations due to the presence of limited dependent variables. This paper considers logit as an alternative technique in the reestimation of such models; the specifications are adopted from previous empirical studies. The results reveal that the logit estimates obtained agree with OLS estimates in terms of signs of the coefficients and significance of the variables. This conforms with the findings of some studies that there is virtually no difference between the two estimation techniques. However, this paper extends the comparison between OLS and logit by examining impact multipliers and evaluating selected probabilities on decisions regarding fertility behavior and market participation. The findings are that, relative to logit, OLS tends to significantly overstate the effects of a number of determinants of fertility and wife's employment. Moreover, OLS predicted probabilities are either under- or overstated. These results suggest the importance of taking into account not only the signs but also the magnitude of the estimated effects of the explanatory variables so as to arrive at more accurate predictions on decisions regarding fertility and market participation of married women.Item Restricted A study of food consumption and expenditure patterns of Philippine households(1980-04) Bennagen, Ma. Eugenia C.; Orbos, Rosita S.Food accounts form the largest personal expenditure item in developing countries like the Philippines. A study of the food consumption patterns of Filipinos is therefore of prime importance. Being an archipelagic country, patterns of food consumption within the Philippines may be expected to differ by region. Furthermore, being an economy where income is unequally distributed, food consumption patterns are likewise expected to vary, among different income level groups. In this paper, consumption patterns for 10 major food groups, and 24 individual food stuffs are examined by region and by income level. Factors influencing food consumption habits of Filipino families are analyzed using regression analysis. Household income and household size are the explanatory variables included in the model to explain variation in food consumption levels and expenditures. The study, based on a nationwide household food consumption survey, reveals that the proportion of income spent on food by an average Filipino household is very high -- 73 percent. Expenditure on cereals and seafood alone accounts for more than half of total food outlay (54 percent). Average per capita consumption levels show that Filipino families adequately meet only the recommended allowance for cereals and cereal products. All the rest fall short of the recommended allowance. Food consumption patterns show diversity by region and by income level. Luzon households have higher consumption levels of meat, eggs and dairy products, while households in Mindanao consume more fruits and vegetables. Households in the Visayas, where average income is lowest, have the highest consumption of root- crops, bulbs and tubers. By income level, high income households enjoy the highest per capita consumption levels of all the major food groups, except root crops. With respect to the extent to which Filipino households respond to changes in income and household size, the food elasticities obtained were all less than unity indicating that demand for food is generally inelastic.Item Restricted The demand for international reserves: the Philippine case(1980) Arboleda, Georgiana P.; Alburo, Florian A.A country's official reserves are used for precautionary purposes to maintain some degree of stability in the exchange rate when its balance of payments is in deficit. This study addresses itself to the problem of the Philippine monetary authorities in maintaining an adequate level of reserves. In relation to this, estimates of the reserves demand function are tested for its validity and stability during the period 1963-1978. Two types of reserves demand formulations are estimated. The first uses long-run explanatory variables such as money supply, net foreign exchange holdings of commercial banks, imports, and the opportunity cost of holding reserves. The second is called a stochastic formulation because it makes use of a measure of the variability of the balance of payments as an explanatory variable. These demand formulations are used to assess the adequacy of the official reserves holdings of the Central Bank from 1962 to 1978.Item Restricted An evaluation of the economic planning, appraisal, implementation and performance of selected irrigation projects in the Philippines(1980-10) Cruz, Alcadio L.; Alonzo, Ruperto P.There is a tendency among planners and leaders to attribute the present problems in development planning and difficulties in attaining development goals to a variety of reasons like unpredictable weather condition, inadequate financial and technical assistance and foreign influences. While there must be some truth under certain circumstances to such claim, it is generally believed that what actually leads to failures of projects/programs are: i) deficient decision-making process, ii) poor project selection and preparation and iii) poor implementation. The paper is about a midterm evaluation of two irrigation projects, which involves taking a snapshot of the two projects in 1979, inferring the developments between then and project initiation, and projecting trends between 1979 and end of project life on the conservative assumption of 1979 values as those of full development. The objective is to see if project assumptions held at the time of inception remained valid, and how differences between assumptions and actual developments affected the profitability of the two projects based on their economic and financial viewpoints. The results of the analysis showed that the projects remained feasible, in fact had higher feasibility measures in spite of cost overruns and construction delays. From the national viewpoint, the internal rates of return are 27.8 and 29.9 per cent for the Cotabato and the Davao projects respectively. Net present values are large, amounting to P174,384 thousand for Cotabato and P404,794 thousand for Davao. Farmers' profitability, measured by the financial rates of return, are very attractive. Values of 22.9 per cent and 17.4 per cent were obtained for the Cotabato and the Davao projects, respectively. Net present values are substantial, amounting to P103,893 thousand for Cotabato and P147,933 thousand for Davao. While this study demonstrates the usefulness of benefit-cost analysis, the procedural and data requirements of the study could be a complicated and demanding task, The requirements are often compounded by constraints of the planning environment in various agencies, the absence of an adequate organization for planning, the limited number of planning staff with the required skills, the costly gathering of information, and sometimes the absence of national parameters. It is therefore suggested that the present practices of monitoring, control and evaluation as tools of project management be upgraded greatly both at the project and at the sectoral levels. No management organization can perform effectively even if it is organized unless it is provided with information on project operation to enable it to compare current and past performances.Item Restricted Trends and patterns of job advertising in Philippine newspapers(1980) Cabato, Rachel; Tidalgo, Rosa Linda P.This paper, Trends and Patterns of Job Advertising in Philippine Newspapers, is a study on the utilization of job openings advertised in newspapers as a job vacancy measure indicating trends and patterns of unfilled demand for labor and as an information channel entailing search costs to employers. The focus of the study reveals bias of job advertising for certain occupations and the sources of these bias. It further describes the occupational composition of vacancies advertised in Philippine newspapers, its seasonal variations, trends and patterns in search costs eventually providing insight into the recruitment activity of employers using formal channels. The primary data sources of this study are all Sunday issues of the Manila Times for the years 1959, 1965 and 1971 and the Bulletin Today for 1977. There has been an increasing preference for Sunday issues in advertising job openings since 1959 as evidenced by the higher price paid per unit of space and greater number of pages purchased since then. The labor market reviewed pertained only to the Metro Manila area where the rate of newspapers circularized is high. Likewise, job advertising in newspaper is likely to be biased indicator of total job openings because the advertisement represent a biased sample of total job vacancies. This is identified in the study as readership bias. Closely related to readership bias. Closely related to readership bias of job advertisings is the employer's expressed preference for experienced workers. Another bias affecting the job vacancy measure using advertisements is the wage bias. Teachers for example have low cost offers while other college-trained professions have high ones. The quality bias on the other hand, affects the advertisements for engineers and skilled industrial workers. As a source of information on job opportunities for wage employment, job advertising more likely reflects employers demand for the educated and skilled workers than for the less educated and unskilled. Related to being a biased indicator of total job vacancies, job advertising may not likely reflect job applications for the experienced and unskilled but may well be a useful source of information on jobs for the educated, skilled workers, particularly professional, skilled and college-trained workers. Seasonal patterns of job advertising for certain types of workers were also revealed, and cost trends and patterns of job advertising in newspapers were closely looked into. This study provided a framework for examining the recruitment activity and identifying certain factors associated with the synthesized utilization of job advertising as vacancy measure and information channel. Further areas of research were suggested which were not within the scope of the study. These involve the measurement of the importance of job advertising for occupation identified in this study relative to other information channels; the investigation of pressures or labor shortages relative to job advertising; and the seasonality of other occupations.Item Restricted An empirical forecasting model of government revenue for the Philippines(1980-10) Legaspi, Julieta L.; Alonzo, Ruperto P.The objective of this paper is to generate an empirical model for forecasting tax collections in the Philippines which can be very useful for better fiscal planning and management. An indication of how much resources in terms of government tax revenues can be generated in the future with the existing tax structure, rates and system of administration, will provide a workable guide for setting ceilings of government expenditures. Improved debt management will also be ensured if projections of revenues are available for government planners and decision-makers. Information on the actual needs and the available resources will provide policy makers with the signal to formulate and implement new revenue reform to beef up revenues of the government. This will also avoid costly mistakes of incurring excessive debts which are more than enough to finance the development program. Furthermore, information on the available resources will also facilitate an improved programming of government capital projects. The study covers the period 1967-1978 and limits its discussion to the national government tax and social security collections. This paper gives detailed consideration to some of the factors likely to affect tax levels in the Philippines. The variables determining the levels of collections of specific tax components are identified and projected. Tax collections over the period 1979-1990 are projected using estimated relationships between tax collections and their determinants or bases. Two projections series are made with regard to the total taxes. One uses the regression equation which specifies per capita income, import and price as explanatory variables of total tax collections, and the other is the summation of projected collections from the different types of taxes. The former yields more optimistic results while the latter appears somewhat conservative. This result may imply that the economy might be at that stage of development whereby the presently used tax bases for the different categories of taxes might no longer be productive for the tax system to yield the necessary revenues to finance the development program. While important gaps remain to be covered, the empirical findings of this paper suggest that tax levels which is a possible indication of the size of the public sector are importantly affected by the availability and effective exploitation of taxable bases. As the economy advances, most of other bases are likely to emerge, thus giving greater scope for increasing tax collection necessary to finance higher levels of government expenditures.Item Restricted Measuring regional price differences in the Philippines: 1965-1975(1980-04) Holazo, Virginia Fe V.; Tan, Edita A.Applying Theil's index of relative price differences to regional price data for 1965, 1971 and 1975, this paper shows that differences in price levels exist between regions and are increasing over time. Aside from measuring relative differences in price levels Theil's index allows a one-dimensional ranking of regional price level such that their relative differences can be measured as on a distance line. It is clearly shown that Manila and Suburbs (Region I) has the highest price level and is responsible for 64 per cent of total regional price differences in 1965, 62 per cent in 1971 and 63 per cent in 1975. Differences in price levels among the other regions, though significant and increasing over time, are small when compared to price level differences involving Manila and Suburbs (Region I). Three main structural types are observed. Again, large structural price differences are measured between Manila and Suburbs (Region I) and other regions, though these differences are found to decrease over time. Regional price levels exhibit a uniform rate of change, stemming mainly from weighted food price increases, which accelerate from an average of 46 per cent for 1965-1971 to 56 per cent for 1971-1975. Structural changes within regions over time are small. Average differences in expenditure shares, which are the weights used in Theil's index, are also looked into.