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Item Restricted The role of foreign direct investment and public-private partnership in economic growth: Philippines, 1991-2020(2023-01-19) Agustin, Juan Carlos P.; Sales, Marianne C.; Mendoza, Adrian R.The role of foreign direct investment (FDI) and public-private partnership (PPP) projects in economic growth has been a topic of discussion for some time now. However, the conclusions from empirical studies tend to vary, including those in the Philippines. Using data from the World Development Indicators database of the World Bank, the Philippine Statistics Authority (PSA), and the Public-Private Partnership Center (PPPC) of the Philippines, this study employs descriptive and econometric analysis to estimate the impact of FDI inflows and PPP projects on the economic growth of the Philippines over the period 1991–2020, along with the usual components of GDP, i.e., consumption spending, investment, and government expenditure. The evidence shows that FDI and PPP infrastructure projects have a positive impact on economic growth, but only PPP infrastructure projects produce significant results. Unfortunately, the COVID-19 pandemic posed a major constraint on FDI and PPP projects. Nevertheless, it is hoped that the results of this study will lead to policy implications that would promote FDI and PPP projects for faster economic growth and inclusive development.Item Restricted A cross-country study of green bond issuance on the environment and economy in ASEAN(2024-01) Banal, Denise A.; Bisnar, Judica O.; Balaoing-Pelkmans, Edylinda Annette O.Global awareness of environmental issues and climate change has been growing for years. There has also been pressure and a need to address these issues to mitigate their effects. With that, industries have been contributing to helping the environment through sustainable ways and policies. One example is how the finance industry helps combat these issues, such as countries that have started looking into green finance. Green bonds are a type of debt security that has the same structure as conventional bonds as the government or corporations issue them to fund environment- or climaterelated projects. This research addresses the significance and relationship of green bonds on both economic growth and the environment. It focuses on six ASEAN countries, particularly, the Philippines, Indonesia, Malaysia, Singapore, Vietnam, and Thailand. A panel analysis of 48 countries in Asia focusing on the six ASEAN countries from 2016 to 2022 reveals that Asia has better performance towards the environment because increases in green bond issuance reduce CO2 and GHG emissions and contribute to Climate Action (SDG 13). ASEAN green bonds are positively correlated with the GDP growth rate. With contribution towards economic growth, issued green bonds in ASEAN perform better than in Asia.Item Restricted The impact of the number of Higher Education Institutions (HEIs) on the annual regional GDP per capita in Philippine regions(2018-12) Garcia, Jaymich B. ; Lobo, Kevin Michael Y. ; Mendoza, Maria Nimfa F.Several studies have shown that the presence of higher education institutions (HEIs) affects economic growth through the production of human capital, innovation and the quality of education being offered. Although being fourth (4th ) in the world in terms of countries with most number of HEIs, the Philippines displayed a slower, stunted economic growth throughout the years. The purpose of this study is to assess and identify the specific contribution of the number of HEIs to the growth of Gross Domestic Product (GDP) per capita in the Philippine regions. Separate economic models are estimated by the researchers to evaluate both short and long run effects of HEIs to GDP per capita of Philippine regions. The study is limited from the year 2009 - 2017 due to data limitations. The pooled ordinary least squares model and the fixed effect model showed that having an additional HEI per region can increase annual real GDP per capita by .3% in the short-run while decreasing real GDP per capita by .2% in the long-run. Also, result shows that as one additional center of development or center of excellence (codcoe) translates to an annual 1.84% increase in real GDP per capita in a region. This further explains that quality as measured by the number of cod and coe per region affects GDP per capita more significantly than quantity of HEIs itself.Item Restricted The economics of natural disasters in the Philippines: an analysis of the effects of the 2006 and 2009 typhoon seasons on employment and output(2013-04) Capulong, Alexander A.; Sollano, Jose Gabriel Antonio T.; Carlos, Fidelina N.This study focuses on the Philippines and the effects of typhoons of the final quarter of 2006 and 2009 on the employment of 17 industries. In addition, this study also analyzes the effects of natural disasters, in general, to output levels and% share of GDP of the 12 industries of production. Specifically, this study attempts to apply, in the case of the Philippines, what researchers have recently done in the United States, Australia and Japan. The study attempts to lay the ground work for future research in the field here in the Philippines. It should be clear that the study can be extremely beneficial to future policy makers and other economic planners given that the Philippines is geographically located within the Pacific Typhoon Belt. Available data from both international and local sources are utilized in this study. An adapted ARIMA model with intervention variables for the years 2006 and 2009 will be used to run econometric analyses on the 17 different sectors in the Philippines with regard to their employment growth from 2001 and 2011 and on the output level and% share of GDP of 12 industries from 1998 to 2012. The paper attempts to capture the effects over short and medium term periods so as to make a forecast of future effects possible. In the end, the results have showed all industries can withstand the effect of the typhoons; even the usual suspects (Agriculture, Fishing and Construction) are more robust than expected for employment. Despite heavy losses caused by typhoons, they are not sufficient to significantly alter the established trend of any industry's hiring practice. As for the output levels, only the industries of Forestry, Manufacturing, and Construction have increased their production after the year of 2009 in the medium-term. Moreover, in the medium-term after 2006, the industries of Mining and Quarrying and Manufacturing have taken a higher share % of GDP while the Electricity, Gas and Water Supply incurred loss and in the medium-term after 2009, the share was allocated to Forestry, Mining and Quarrying, and Other services from the lost % share GDP of the Agriculture and Fishing industry. The results bolster the suggestion of other studies that natural disasters may have a short -lived positive effect despite other sectors having long lasting negative consequences. Similar to the case of the Philippines, there have been instances of shifts in the industrial landscape by share of GDP.Item Restricted An analysis of trade flows in the Philippines using the gravity model(2011-10) Sagun, Ray Alvin L.This paper applied the Gravity Model of International Trade to approximate the total volume of trade ( defmed as the total exports plus total imports in current prices) exchanged by the Philippines with its top The partners. The basic gravity model was used, where the explanatory variables are the economic/market size of the trading countries and Hence, distance between them. Hence, Gross Domestic Product are Gross Domestic In addition, (GDP) and distance. In addition, other important variables were added, Two types population Ordinary Least Squares Two types of Ordinary Time Squares (OLS) regressions were employed: Time series regression (1980-2009) and cross sectional regression for the The , 1981, 1988, 1995, 2002, and 2009. The Philippine results indicate that the gravity model in The setting follow the typical results of previous studies. The Philippines variables that best explain trade flows of the The are the GDP of the importing Population and distance. The elasticity of the importers' GDP and Population to trade volume in the cross-sectional regression show little fluctuation over the years.Item Restricted The effects of GDP growth, currency depreciation, and lending rates on non-performing loans(2002-03) Hernandez, Jeffrey A.; Pascua, Jeffrey V.; Reside, RenatoItem Restricted The impact of natural calamities on GDP(2003-03) Felix, Erwin Rommel; Manalo, Eric; Diokno, BenjaminThe waters rose fifteen cubits higher, submerging the mountains. And so all things of flesh perished that moved on the earth, birds, cattle, wild beasts, everything that swarms on the earth, and every man. Everything with the breath of life in its nostrils died, everything on dry kind. Yahweh destroyed every living thing of the face of the earth, man and animals, reptiles and the birds of heaven" (Genesis 7:20-23). This comprehensive paper aimed to answer whether or not natural calamities have an impact on GOP. To address this issue, the researchers employed the regression analysis method in order to prove the relationship· between the damage brought about by natural calamities to the country's GOP. Upon conducting the analysis, it was discovered that the Agricultural sector is the most negatively affected in the event of any natural calamity. Furthermore, another issue surfaced: given the adverse effects of such occurrences on the Agricultural sector, how does the Philippine government respond to such concerns? The researchers conducted a cost-benefit analysis of a past damage mitigation project and discovered that such project yields a positive net present value. This means that if the government should adopt a pro-active stance (when it comes to dealing with calamities) it will prove to be more beneficial. It is incomprehensible why the government is not investing that much in damage mitigation projects, but instead appropriates the budget in the allocation of calamity funds.Item Restricted Oil price, real GDP, and real exchange rate shocks and commodity price responses(2008-03) Angeles, Jan Erik R.; Velasco, Kevin Tristan S.With the steadfast increase in the prices of oil in recent years, what does it spell for the economy of the country and its people? As the prices of oil continue to increase, exchange rate of the country continues to depreciate and prices of commodities persistently increase. Although price rollbacks decrease the prices on certain commodities, there haven't been enough to negate the volume and gravity of the price increases before it. The same is true for the exchange rate of our currency. That being said, do oil price shocks have a direct negative or positive impact on the Philippine economic indicators, namely: gross domestic product, exchange rate, and domestic prices of commodities? This study explores and analyzes the relationship of oil price shocks on the different variables of the Philippine economy. Specifically, the study will uncover the velocity and magnitude of oil price shocks and their effects channel into the economic indicators and finally into commodity prices. This will give an insight to how much the Philippine economy relies on oil and how it responds and reacts to sudden increases in oil price.Item Restricted Class of worker responsiveness to GDP(2008-11-18) Hao, Nicole Ranna; Pizarro, Anna PatriciaThis paper sought to examine the responsiveness of each class of worker, namely wage and salary earners, own account earners and unpaid family workers, to GDP growth. It attempts to explain the lack of apparent correlation between GDP growth rate and employment growth rate in the Philippine setting. It also sought to determine which class of worker best tracks GDP growth. A background on the employment and GDP over a period of 15 years (1993-2007) was provided to narrate actual events, which led to the increase or decrease of employment and GDP. A correlation and significance testing of each class of worker's growth rate to GDP growth rate were also conducted to provide statistical evidence of their relationship. Results showed that wage and salary earners are more positively correlated and statistically significant to GOP growth. The movement and growth of wage and salary workers deemed to best track GDP growth. On the other hand, both own account earners and unpaid family workers have a negative correlation to GDP growth. However, unpaid family workers are the least significant among the three major classes of workers. An interesting finding in our study is such that removing the variability caused by the unpaid family workers, employment without unpaid family workers showed a more significant and positively correlated relationship with GDP growth than employment with unpaid family workers. On a broader point of view, our findings suggest that as the Philippines progresses in terms of higher GDP growth implies more participation to become wage and salary earners.Item Restricted The environment economy trade-off in the Philippines: an assessment of sustainable economic growth using decoupling, decomposition, and cointegration analyses(2022-06-20) Cabrito, Roni N.; Martinez, Paula Joy B.; Alburo, Florian A.The urgency of the climate crisis underscores the dire consequences of economic growth at the expense of the environment. This study aimed to provide a comprehensive assessment of the sustainability of the Philippine economy in the years 2015-2020 through a supplemented 2x2x2 (two-by-two-by-two) methodology: two analyses (decoupling and cointegration) were performed in two scales (regionwide and countrywide) using two measures of environmental degradation (regional CO2 concentrations and national CO2 emissions) to characterize the short- and long-run dynamics of economic growth and environmental degradation, with a decomposition method to supplement the short-run analysis. Findings under both scales corroborated a decoupling trend from z6i5-2019, followed by a recoupling phase at the regional level and a decoupling phase at the national level during the height of the pandemic in 2020. The region of BARMM consistently had low environmental intensity while the Central Luzon transitioned from being the least environmentally intensive region in io16-2017 to having the highest environmental intensity in 2019-2020. On a macro-scale, economic intensity was the key driver of CO2 emission changes while energy intensity was the primary inhibitor. The short-run analysis gave indications of a trend towards energy efficiency in the country, and while co integration regression outcomes confirmed a long-run convergence between CO2 emissions and GDP, findings deny the presence of the EKC hypothesis in the Philippines.