This paper uses a Kaleckian model to study the effects of export expansion on income distribution given particular "structural defects" and institutional constraints in a developing economy. The results show that there might be negative impacts on income distribution if the following conditions...

Since the late 1960s, there has been strong resistance from several quarters against any form of devaluation. While many empirical studies corroborate their sentiments, this paper attempts to show that if exchange rates were fixed, then it would be misleading to use them in macro-supply...

This study resulted from UNDP’s interest in the Philippine proposal for debt-to-MDG financing presented to the United Nations in September 2005. It is based on an analysis of the problem and the processes involved as well as consultations with key Philippine stakeholders, and views of creditor...

Since the debt crisis of the 1980s, Philippine economic performance has been an outlier in East Asia, in spite of reform policies that generally have conformed to worldwide norms of trade liberalization and deregulation. In the 20-year period since 1980, the proportion of GDP attributed to...

This paper presents a three-gap model that allows the writers to do exercises which will determine how much foreign inflows (or reduction of foreign outflows) will be required to sustain a satisfactory growth rate for the Philippines given the binding foreign exchange and fiscal constraints. The...

The paper focuses on the relationship between overall macroeconomic policy and rural finance to cover the credit gap for agricultural production. Several laudable measures have been proposed by the Agricultural Credit Policy Council (ACPC), including intensifying rural savings mobilization,...

The implications of labor migration and remittances on poverty are becoming a global issue. The Philippines is considered as one of the largest labor-sending countries in the world. There are numerous studies on remittances and migration and how they contribute to poverty reduction. However, the...

While exchange rate dynamics is an important topic in open economy macroeconomics, the standard tool commonly used to introduce exchange rate dynamics - the Dornbusch (1976) seminal paper along with phase diagram - is not well-suited for undergraduate students as most of them do not have yet a...