Diokno, Benjamin E. - In: Philippine Review of Economics 47 (2010) 1, pp. 39-87
The Philippine national government had large and unsustainable budget deficits in the 1980s. But after a brief period of near-balanced budget in the mid-1990s, large deficits have reemerged in recent years. What explains the poor fiscal performance of the Philippines in recent years? Was it the...