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Item Restricted Assessing cointegration and spillover effects in East and Southeast Asia using an expanded financial conditions index(2022-05-25) Rodulfo, Hannah Mariz R.; Tabud, Shannah Lily C.; Mendoza, Adrian R.This study constructs monthly financial conditions indices (FCIs) for selected developing and large Asian economies using a common factor methadology based on Hatzius et al [2010]. Financial indicators are selected based on identified monetary transmission channels in the literature. The newly constructed FCIs for Asian economies were successful in capturing major financial crises. These constructed FCIs were then used to asses regional financial integration through the VAR-based Johansen and Juselius cointegration test. Asian FCIs were found to have long-run cointegration but are more cointegrated prior to the pandemic. Given this cointegration, the Diebold and Yilmaz spillover index was used to analyze the regional transmission of shocks. All developing countries except China were net transmitters of spillovers, while the equity market was a consistent net transmitter of financial shocks.Item Restricted Impacts of the novel coronavirus variants on the Philippine stock market(2022-05) Abante, Joshua I.; Estudillo, Jonna P.The COVID 19 pandemic has brought broad socioeconomic effects that stretch far beyond the health sector. With those effects come opportunities to examine the implications of major health crises on stock markets. This paper investigates the effects of the Variants of Concern (VOC) designation of the SARS-CoV-2 virus on the Philippine Stock Market by employing the Event Study Methodology. The results show significant reactions from the firms in the Philippine Stock Exchange index (PSEi), generally positive abnormal returns on stock prices, and the presence of sectoral effects.Item Restricted Painting the town red: examining the correlation between the number of insurgency instances and voter turnout at the provincial level in the Philippines(2021-01-18) Camara, Joergen Gerard H.; Tena, Jose Ramon V.For democracies around the world, elections have been the most primary way the people of a nation get their voices heard and as such, voter turnout and what affects it has become one of the most researched topics in election-related research. The Philippines is a country that typically enjoys a high rate of voter turnout, and while the Philippines also has many of the previously researched factors that normally affect elections, such as income and education, the Philippines also has other factors that could potentially affect those rates. One of those factors is the persistent Communist insurgency perpetrated by the CPP-NDF-NPA. The Philippine government has long considered combating this insurgency as a major policy due to its national spread and prolific nature. The focus of this paper is to determine if there is a correlation between insurgency and voter turnout. We used a panel data regression analysis to test whether instances of insurgency- related conflict affect the voter turnouts of a given election year, within the many provinces of the Philippines, excluding the National Capital Region and the Bangsamoro Autonomous Region of Muslim Mindanao. We found out that instances of insurgency-related conflict does affect voter turnout positively, but are weak given the sporadic and drawn-out nature of the conflict. We also found out that when the Filipino electorate votes in relation to insurgencies, they value casualties incurred more than they value the instances of insurgency themselves, showing lives lost carry more weight than mere events.Item Restricted A study on supplementary factors that influence the human development index(2022-01) Carangian, Gabrielle S.; Ugay, Jamielynne D.The Human Development Index is an important measure to keep track of a country's development based on three dimensions: health, education, and standards of living. The HDI, however, remains an inadequate index of development as it is a reductionist measure that does not take into account other important aspects of development. This study started off by identifying the supplementary factors that can possibly affect the HDI, namely poverty, inflation, unemployment, and population. Ordinary Least Squares (OLS) regression and the fixed effects model are used to determine the relative importance between HDI and the four variables. The researchers found that poverty negatively and population positively affects the HDI. Other variables namely, inflation and unemployment are not significant to HDI. Based on these results, alleviating poverty through government programs such as the 4Ps, and ensuring simultaneous quantity and quality improvements in the population are suggested to boost human development growth.Item Restricted Player performance on NBA trading card prices(2022-01-26) Bautista, Elijan John M; Orosco, Mark John D.The unprecedented surge of sports card trading in 2021 has proved the relevance of sports cards not only as a collector's item but as a profitable investment. With its market now valued at 14 billion USD, trading cards have captured even the interest of non-sport fans who seek alternative sources of income. However, despite the increased interest of people towards sports card trading, a guide on how sports cards are priced still remains non-existent. Thus, investors are left to their own wisdom in distinguishing factors that impact card prices in the resale market. In order to broaden the knowledge surrounding the prices of NBA trading cards in the secondary market, we explore how different elements of player performance affect NBA trading card prices. To determine the relationship of the variables, we employed panel data techniques and LASSO models using a constructed dataset of NBA players during the 2020-2021 season. The data gathered was in the form of in-game statistics from Stathead Basketball and card prices from Market Movers. Key insights from the results reveal that injury instance, blocks per game, and points per game are significant factors in the price of NBA trading cards. Specifically, injury instance has a negative impact on price, while blocks per game and points per game both have positive effects. As an application of the findings, we recommend that sports card traders not only look into in-game statistics but also consider the injury history of the player in their investing decisions.Item Restricted Applying historical estimations of policy responses during the Asian and global financial crises to the covid-19 economy(2021-01-17) De Luna, Meira Beatris S.; Rivera, Gabriel Antonio V.In early 2020, the COVID-19 pandemic began spreading around the world causing massive health and socio-economic implications. In the Philippines, because of the extensive lockdowns and overall lax response at the onset of the pandemic, the country has experienced consecutive quarters of negative growth in 2020. Such economic downturn had not been seen since the Asian Financial Crisis (AFC) and Global Financial Crisis (GFC), where the country had been cited to be one of the more economically resilient nations at those times. Noting such resilience, examining the policy responses implemented during the AFC and GFC may lead to pragmatic learnings one may use to address the COVID-19 economy. To do such, we apply a 5-dimensional vector autoregression (VAR) model as a policy tool to measure the impact of the different fiscal and monetary policies used to address the shocks attributed to the AFC and GFC. After which, we employ a VAR model to forecast different macroeconomic indicators given the COVID-19 context, and use learnings from the AFC and GFC for possible policy recommendations. Our results show that in times of crises, the impact of monetary policy is evident almost immediately after the period of implementation, with money supply exhibiting a negative relationship with GDP in the short-run, while the effects of fiscal policies manifest themselves more in the long-run. These insights are then used to propose policy recommendations to address the macroeconomic issues that have risen from the COVID-19 pandemic.Item Restricted Building a financially literate Philippines: a study on the determinants of financial literacy among Filipino adults(2021-02-22) Batara, Joan Marie T.; Formoso, Nicole Danielle T.; Alburo, Florian A.Literacy has grown from a term that defines the ability of reading and writing to concepts that describe “new literacies” specific to subject areas and skills, one of which is financial literacy. Although the body of literature on financial literacy and its determinants has continuously been growing, spanning different focus areas and countries, there is much room for investigation in the Philippine setting. Most research on the determinants of Filipinos’ financial literacy has focused on specific target groups like teachers and university students. Using data from the Financial Inclusion Survey (FIS) 2019 of Bangko Sentral ng Pilipinas with a sample size of 1,200 Filipino adults, this paper conducts a study on the determinants of financial literacy in the Philippines. Ordinal logistic regression models were used to determine the effects of these factors on financial literacy which was measured by the score of each respondent on the financial literacy questions of the FIS 2019 survey. The results show that all the demographic and socioeconomic variables studied had no significant effect on financial literacy. Meanwhile, all geographic factors namely being of urban residence and residing outside of Metro Manila had negative effects on financial literacy. For financial inclusion variables, only account holding and investment holding show positive effects while both insurance holding and having formal credit are both statistically insignificant. The presence of significance for some variables confirms ideas posited by the Social Learning Theory, the Consumer Socialization Theory, and the concept of Financial Socialization. The findings also confirm an insight from related literature which is that most variables studied in this area of research often affect financial literacy in developed economies more than developing economies such as the Philippines.Item Restricted Pound devaluation and its effect on the Philippine import and exports(1969) Yu Jr., Koc Lee; Sicat, Gerardo P.Item Restricted Nacida and how it enhances the economic development of the cottage industry of the Philippines(1969) Yue, Mildred MayItem Restricted Suicide and gender development: an economic exploration of male and female suicide incidence(2022-01-26) Almaida, Johanna Denise I.; Panganiban, Jasmine Yari C.Suicide remains to be one of the primary causes of mortality in the world. Its economic rationality must be understood as the socioeconomic conditions experienced by an individual play an important role in investigating suicide incidence. This research intends to explore the nature of the impact of gender development indicators on suicide rates. The researchers hypothesize that indicators of the human development index (HDI) pertaining to job security are positively associated with suicide rates for both the male and female populations across all development groups, especially in the polar opposite groups (i.e., very high and low human development groups). Meanwhile, per capita income is inferred to be positively related to suicide incidence in the very high HDI group, but the former is negatively related to the latter in the low HDI group. To test this, the age-standardized suicide rates and the data on four HDI indicators (i.e., mean and expected years of schooling, life expectancy, and per capita incomes) and two measures of job insecurity (i.e., unemployment, and vulnerable employment) for the year 2019 were analyzed using two econometric models that utilize log-linear regression. Results show that per capita income was positively related to female suicide rates in the very high HDI group while it was negatively related to the latter in the low HDI group. Male suicide rates were negatively associated with per capita income in both groups. Unemployment and vulnerable employment possess a negative association with female suicide rates in the very high HDI group, while the inverse is true in the low HDI group. In both groups, male suicide rates were negatively associated with unemployment and vulnerable employment. Finally, irrespective of HDI group, males are more prone to suicide than females. These results suggest that societal inequality and engagement in vulnerable jobs are possible explanations behind female suicidal behavior. At the same time, the unconventionality of the patterns of male suicide behavior relative to unemployment and job insecurity necessitates the use of a multifaceted approach in identifying potential causes.