The government budget may be viewed as the financial mirror of society's economic and social choices, but does the budget contribute to the attainment of the overall objectives of economic policy, namely, growth, equity and stability? For government to be able to function and fulfill its role,...

Focusing on the structural fiscal policy adjustments specifically in the field of tax and expenditure policy, this paper reviews the recent experience of the ASEAN countries in the area of fiscal policy reform and collects the major lessons that emerge from such endeavor. It reviews variations...

The last decade has witnessed a very active government expenditure program in the Philippines. Although the country’s national government expenditures as a proportion of GNP have been lower compared to other Asian countries, it has been high relative to available budgetary resources. This...

This study looks at the status of rural nonfarm enterprises (RNEs) in the Visayas area. Descriptive statistics indicate that majority of the RNEs are micro- and cottage-sized enterprises managed by the owner/operator only. Very few can be considered small-scale. Major activities undertaken are...

This paper discusses the policy regime that defines the revenue structure of the different levels of government during the period 1976-1991. It also analyzes the patterns of revenues and finances and the fiscal responsibilities assigned to LGUs. Several issues and prospects on fiscal federalism...

As part of the assessment of the Aquino Administration, this paper investigates the Philippine management on external debt. The insights offered here is valuable to future steps the present and succeeding government might wish to undertake.

For the last 25 years, the government has been incurring heavy budgetary deficits. Yet, data on recent Philippine experience reveal that no well-established guidelines on how to finance a budget deficit have been formulated. This paper investigates the means and measures to finance a deficit,...

In response to the 1983-1985 economic crisis, the Philippine government has assigned a major role to fiscal policy given its contribution to the said disaster. This paper reviews the conduct of Philippine fiscal policy in 1986-1988. It examines how the policy actions undertaken fit into the...