The world economy has undergone at least three waves of globalization; currently the fourth wave is on-going, sweeping away old certainties are being overturned. The Philippines, which has hitherto been reaping the growth dividend from the third wave of globalization owing to a functioning...

Using a human capital model with stochastic lifetimes, we assess the potential long-term impacts of human capital spending shocks in the early years of the COVID-19 pandemic on survival, lifetime income, and inequality. In the model, health and education spending separately affect survival rates...

Often development focus has been on measuring and analyzing poverty in order to reduce poverty. While the poor face future prospects of being perpetually trapped in poverty, the nonpoor also are vulnerable to poverty. Vulnerability has been particularly recognized in the wake of the impact of...

The Philippine government's long-term vision, AmBisyon Natin 2040, aims for a prosperous, predominantly middle-class society where no one is poor. The Philippine Development Plan 2023- 2028 emphasizes strategies to develop and protect individual and family capabilities by reducing...

Asia's rapid population aging fortifies the case for strengthening human capital investments. Further, the experience of the newly industrialized economies suggests that human capital investments will be a vital ingredient of the transition from middle income to high income. Those investments...

Financing of education in the Philippines is mainly by the government (public) and by households (private), and since the 1990s there has been a shift in the public/private mix in education financing toward higher private share. Between 2007 and 2040 the schooling age population of the...

The NTA flow accounts for the Philippines for the year 2007 include not only national level estimates but also estimates by income group. Three income groups are defined, referred to as income terciles. This paper examines the financing of consumption by income group. One source of financing is...