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Item Restricted Wealth as an extra-legal factor in judicial decision making: Probing the party capability theory in the Philippine context(2013-10) Baluyan, Maria Jannie Luiza C.; Salazar, Kim Philip S.; Ducanes, Geoffrey M.This paper aims to test the occurrence of the Party Capability Theory in the Philippine context, particularly during the year 2012. The theory suggests that 'haves' -litigants with greater capability to acquire resources, inevitably fare better in court than 'have nots'. This advantage can be explained by the repeat player status of the 'haves' and their ability to obtain better legal aide through their wealth. However, previous literature on developing countries suggest that Third World countries tend to have a predisposition towards the less privileged. This is more apparent during times when the legitimacy of judicial bodies is in question [Haynie, 1994]. Our empirical results support the argument of previous studies that litigants with lower resource capability come out ahead in court. However, results that are limited to public cases suggest that more privileged litigants fare better. This can be explained by the nature of public cases, and the greater ability to harness legal resources by the 'haves'. Moreover, the results show that repeat player status negatively affects the likelihood of winning a case in the 2012 context.Item Restricted Testing the life cycle and permanent income hypothesis: an investigation on the role of wealth in stimulating consumption in the Philippines(2008-03) Alquiza, Mary Rose R.; Padolina, Melissa Anne W.The Philippine economy is highly characterized as consumption-driven. It is therefore important to examine the factors that affect consumption behavior. This study explores the wealth effects of residential and stock assets on aggregate spending in the light of the most recent consumption models, Permanent Income Hypothesis and the Life Cycle Hypothesis. The results indicate a higher residential wealth effect with a substantially larger marginal propensity to consume than stock wealth. Housing wealth was also found to be most influential on the consumption of all types of goods while stock wealth was significant only in explaining spending on furniture. The equity extractions from residential and stock wealth were also examined to further test the wealth effect on consumption. Equity extractions were found to have significant impact on the growth of residential and financial wealth with rent and last-quarter financial wealth as the main explanatory variables. Lastly, the consumption behavior of Overseas Filipino Workers was found to be consistent with the Life Cycle Hypothesis as shown by the high saving rates and investment in housing, stocks and business capital.Item Restricted Wealth determinants of household decision on child work(2008-10) Dinglasan, Katrina May J.This paper is a study on how different wealth variables affect the probability a child whose age is between 5 to 14 years old would engage in work. The kind of work specified in this paper is distinct from the official definition of child labor according to the International Labor Organization. It proceeds by estimating 3 regression models using Maximum Likelihood Estimation (MLE) method, each model differing on the independent variables involved. The estimation makes use of data from the National Statistics Office 2001 Survey on Children. As the results show, all three models consistently show that income increases and ownership of other assets are correlated with less child work incidence. Simulating the Pantawid Pamilyang Pilipino Programa provisions of how much to endow eligible households, it was shown that increasing the household income does decrease the probability a child would work in a household, but only by small amounts.Item Restricted Looking beyond wealth: the Philippine national happiness index as a complement for traditional income measures(2009-03-31) Carlos, Aries S.; Sampan, John Michael M.This study tests the validity of claims that pervade the study of economics today-happiness scores of people in any given country do not have any straightforward relationship with increasing economic growth. Philippine happiness data is used to correlate with various economic indicators in order to ascertain the pitfalls of using traditional aggregate growth measures in assessing the overall quality of living of the Filipino people. We empirically establish that in the Philippines, happiness has a strong cross-sectional correlation with income yet such a relationship is not observable across time. Then, we posit ways of constructing a new index for measuring "gross national happiness" while touching on issues regarding the viability of such a measure to complement, or even replace the GDP as a means of measuring the population's overall well-being. We propound the Human Development Index (HDI) as the model after which the Philippine National Happiness Index (PNHI) can be patterned. Coefficients generated from the regression analysis are used to determine the weights of specified dimensions in order to take into account the happiness of the population while minimizing the arbitrariness of the original HDI computation. Lastly, we touch on the issues concerned with government policies attempting to maximize national happiness or well-being instead of traditionally quantifiable growth measures.Item Restricted Health and wealth: linking life expectancy at birth to Philippine income per capita(2009-10) Quintos, Melanie Grace A.; Sabado, Precious Crisan R.How do improvements in health affect income per capita in the Philippines? To answer this question, the researchers used life expectancy as a general measure for overall health. Using data from year 1975- 2005, the impact of life expectancy on income per capita are exploited by running a regression to capture the contemporaneous, 10-year and 20-year lead effects. It is found that life expectancy has a large positive effect on population and that improvement in health has a first order effect of increasing income per capita. In this light, health by raising human capital could be an engine for economic growth most especially in developing countries like the Philippines where the principal movers that boosts the economy are sectors which are not capital intensive but rather labor intensive.Item Restricted The impact of wealth expectations on the incidence of lottery gambling(2010-03) Azis, Jauhari C.; Fulgar, John Raphael D.Gambling is especially problematic in third-world countries such as the Philippines because of one thing: it is not self-limiting. Logically, when disposable income runs out, the betting stops. However, in the Philippines, people go so far as to plunge themselves into debt to continue gambling. Much-needed savings are diverted to such risky activities instead of productive investments. This is a pervasive problem in a country where more than half the population suffers from poverty. Despite the deep-seated and long-running culture that propagates this problem, no major research has been done on the motivations behind these irrational economic decisions. Relevant entities instead rely on classic studies that tie gambling to common identifiers such as lack of education and job opportunities. However, as this study sets out to prove, this is no longer sufficient in explaining gambling behavior. Using recent national-level data from the Social Weather Stations, the authors ran a logistical regression that determined the variables that affected the odds of participating in lotteries. The model was able to produce results that contradict previous studies or popular expectations, such as the fact that higher levels of education actually increase the odds of gambling. Other important results point to a different way of thinking about gambling behavior, such as the fact that purchasing power is not significant in influencing the decision to gamble, but how the individual perceives his quality of life in relation to the past is. The results imply that individual wealth expectations and the factors that can distort these are the primary motivators in deciding to gamble. This study concludes with a set of recommendations for policy makers that target these factors. Some of these recommendations include providing income safety nets, addressing unemployment issues especially for fresh graduates, improving income equity, investing in human development and implementing programs that make investing in productive ventures like businesses more attractive.