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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 Capital intensity in Philippine manufacturing(1967-04-30) Franco, Ma. Eloisa G.; Power, John H.Item Restricted Philippine-United States manufacturing productivity differentials: a technoligical diffusion process(1968-11) Alburo, Florian A.; Encarnacion, Jose Jr.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.