Author: Oxford Business Group Publisher: Oxford Business Group ISBN: 1910068268 Category : Philippines Languages : en Pages : 276
Book Description
The Government has been Widely Commended for its Efforts to improve business conditions and Reduce Corruption, The while a Relatively conservative fiscal policy has Helped boost the economy's Credibility and steer investment into the : private sector. With the economy concentrated in the Metro Manila region, major Challenges lie ahead in overcoming long-standing infrastructure bottlenecks and developing stronger energy and manufacturing sectors. Yet the government is increasing its efforts to spread manufacturing and business process outsourcing growth across the country, and clear obstacles to developing other sectors where outlying regions have strong potential. 2015 is set to mark the inaugural year of the ASEAN Economic Community, with the Philippines playing an integral role in the foundation of this ambitious regional venture.
Author: International Monetary Fund. Asia and Pacific Dept Publisher: International Monetary Fund ISBN: 151359172X Category : Business & Economics Languages : en Pages : 75
Book Description
This 2015 Article IV Consultation highlights that the Philippine economy continues to expand strongly in line with potential growth. Real GDP grew by 6.1 percent in 2014, driven by household consumption, private construction, and exports of goods and services. Economic growth slowed in the first quarter of 2015, owing mainly to temporary factors, including the effects of dry weather on agricultural production, weak global demand for exports, and slow budget execution. The outlook for the Philippine economy remains favorable despite uneven and generally weaker global growth prospects. Real GDP is projected to grow by 6.2 percent in 2015, as lower commodity prices lift household consumption and improved budget execution raises public spending.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292547410 Category : Social Science Languages : en Pages : 188
Book Description
Against the backdrop of the global financial crisis and rising food, fuel, and commodity prices, addressing poverty and inequality in the Philippines remains a challenge. The proportion of households living below the official poverty line has declined slowly and unevenly in the past four decades, and poverty reduction has been much slower than in neighboring countries such as the People's Republic of China, Indonesia, Thailand, and Viet Nam. Economic growth has gone through boom and bust cycles, and recent episodes of moderate economic expansion have had limited impact on the poor. Great inequality across income brackets, regions, and sectors, as well as unmanaged population growth, are considered some of the key factors constraining poverty reduction efforts. This publication analyzes the causes of poverty and recommends ways to accelerate poverty reduction and achieve more inclusive growth. it also provides an overview of current government responses, strategies, and achievements in the fight against poverty and identifies and prioritizes future needs and interventions. The analysis is based on current literature and the latest available data, including the 2006 Family Income and Expenditure Survey.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498344658 Category : Business & Economics Languages : en Pages : 257
Book Description
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498344062 Category : Business & Economics Languages : en Pages : 74
Book Description
Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author: Oxford Business Group Publisher: Oxford Business Group ISBN: 1910068551 Category : Languages : en Pages : 272
Book Description
The Philippines emergence as a growth leader has been building gradually since the 1990s, following a long period of low growth and political upheaval. As of the 2010s improved governance under the administration of President Benigno Aquino III has helped to accelerate foreign direct investment (FDI) in business process outsourcing while reviving FDI into the manufacturing sector. This, and a demographic bulge in the young adult bracket, helped bring the average pace of growth in the first half of the 2010s to 6.3%, beating all the country’s main South-east Asian peers.
Author: Ms.Era Dabla-Norris Publisher: International Monetary Fund ISBN: 1513547437 Category : Business & Economics Languages : en Pages : 39
Book Description
This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Author: Asli Demirguc-Kunt Publisher: World Bank Publications ISBN: 1464812683 Category : Business & Economics Languages : en Pages : 228
Book Description
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Author: Ms.Carmen Reinhart Publisher: International Monetary Fund ISBN: 1498338380 Category : Business & Economics Languages : en Pages : 47
Book Description
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
Author: Oxford Business Group
Author: International Monetary Fund. Asia and Pacific Dept
Author: International Monetary Fund
Author: Asian Development Bank
Author: International Monetary Fund
Author: International Monetary Fund
Author: Oxford Business Group
Author: Ms.Era Dabla-Norris
Author: Asli Demirguc-Kunt
Author: Ms.Carmen Reinhart