Narrow Results

This paper investigates the existence of long-run relationship between unemployment and several key macroeconomic variables in Malaysia, Singapore, and the Philippines. The Johansen–Juselius cointegration method confirms the existence of a stationary long-run cointegration relationship between unemployment and its determinants in all three countries. Exports and foreign direct investment are important determinants of unemployment in Malaysia. In the Philippines, government spending and exports are inversely related to unemployment. In Singapore, only exports appeared as a significant factor in determining unemployment. The results show that the speed of adjustment following a shock is more rapid in Singapore compared to the other two ASEAN countries.

Intergovernmental fiscal transfer (IFT) is one of the several sources of funds of sub-national governments. There are two general types of IFT — conditional and unconditional. In many developing economies including the Philippines, the usual existing IFT is a form of unconditional fiscal transfer called revenue shares. In the Philippines, this revenue-sharing scheme is called the internal revenue allotment (IRA). Empirical literature says that unconditional IFTs are the type of fiscal transfers with the least effect on local government spending. The literature posits that the reason for this is that local governments use these transfers to substitute for own-sourced revenues such as local taxes. This explanation was formalized through a framework presented in this paper. Using panel data from Philippine provinces for the years 2001 to 2015, this paper attempted to determine the effect of revenue shares, in the form of IRA, on local government expenditures. Using different econometric methodologies, this paper arrived at several conclusions. First, IRA has a strong positive effect on total local government spending with a marginal effect slightly greater than one — much higher than what comparable studies found using data from other countries. Secondly, the effect of IRA on local government expenditures is even stronger for provinces with relatively greater ability to generate its own funds. Next, IRA and other externally sourced revenues have much stronger marginal effects on local government spending than do own-sourced revenues. Finally, IRA has widely varying effects on different components of local government expenditures.

Indian Government Finalizes New Drug Price Norms.

China Runs a Check on Its Medical System.

Chinese Drug Prices Down by 20 Percent.

Philippines Plans to Invoke WTO Policy on Drug Patents.

Australia OKs Limited GM Sugarcane Release.

New Drug Registration Law in China.

Use of Dead Fetuses for Stem Cell Research Allowed.

Japan to Revise Patent Laws.

Bt Corn Approved for Planting in the Philippines.

Kaipara Limits GE Organism Release.

Philippines Tightens GMOs Rules.

India to Approve GM Potato.

Bt Corn Well-Received in the Philippines.

Taiwanese Health Officials to Require Labeling of Ingredients for GM Food.

EU Countries retain the Right to Ban GM Food.

AusBiotech 2003 Key Session: Genetic Selection and Improved Nutrition in Animal Production.

Japan Approves Transgenic Rice Commercial Planting.

Golden Rice Shows Promise in Philippines.

Brazil Reverses Ruling on GM Soybeans.

GM Cottonwood Offer Remediation for Mercury Contamination.

United Nations Highlights the Role of New Biotechnology.

Philippines Testing GM Papayas.

Keep the weight off, keep diabetes at bay

Tackling obesity in ASEAN

This study examines the impact of growing political unrest or internal conflict on inbound tourism in the Republic of the Philippines during the period 1994 to 2011. From 2003 onwards, despite formal renunciation of terrorism by one group, the separatist MILF group, acts of violence have continued with increasing political unrest and internal conflict. At the same time an interesting trend of increasing numbers in tourist arrivals was observed from 2003 onwards. The study employs a state space model to test the factors driving tourism during the period 1994 to 2011. The results imply that despite the negative impact of internal conflict and rising inflation, the impact of past income and the inertial effect representing past experience and connectivity to the tourist destination have been sufficient to drive inbound tourism to the Philippines.

This chapter focuses on the Xinhua News Agency and the People's Daily as the representatives of the mainstream media and, based on the sampling statistic study in their news coverage of the South China Sea disputes in 2010–2011, draws the conclusions such as the reports of the China's mainstream media basically match with the relevant policies and diplomatic actions of the Chinese government. Based on the statistics on the articles of the Xinhua News Agency related to the South China Sea quoted and forwarded by the overseas media and the changes in the positions of the relevant countries, the chapter conducts quantitative, qualitative and sampling studies in the role and feedback of the signals conveyed by the mainstream media in China. It also conducts multidimensional analysis and illustration on the roles of China's mainstream media as a signal transmitter in the diplomatic disputes, including both the positive and the negative roles, with the theoretical tools such as the communication theory, the prospect theory and the audience cost theory, with considerations on the world and national situations during the evolution of the South China Sea disputes. In addition, the chapter analyzes the reasons why the government dominated mainstream media in China plays the above roles in the diplomatic dispute in three aspects: (i) the media properties, (ii) the diplomatic policies and (iii) the national interests. It also points out the deficiencies of the mainstream media in China in terms of bridging the official and civil public opinion fields, overseas information delivery and agenda setting based on the current development of the international and domestic public opinions.

The Association of Southeast Asian Nations (ASEAN) electricity market is being liberalised in some regional countries. This step of opening electricity markets is aimed at establishing a competitive and efficient environment that not only reduces electricity prices and CO₂ emissions from electricity generation but also promotes the wider use of renewable energy resources. This paper examines the effects of liberalisation on these expected outcomes in the electricity markets of Singapore and the Philippines during 2015–2020. The regression analysis results show that, in the specified period, liberalisation of the electricity market in Singapore has delivered price reductions and improvement in renewable energy share. However, there is no significant effect of liberalisation on the reduction of CO₂ emissions from the generation of electricity. The results also imply that, with the electricity market liberalisation in the Philippines, prices for household consumers and CO₂ emissions have increased. Also, the liberalisation has no significant impact on renewable energy share and industry electricity prices in the Philippines. To avoid the mixed results and strike a balance between expected outcomes, policy recommendations are given for ASEAN economies following the pathway of liberalised electricity markets.

This chapter analyses the Philippine electricity market reform from a governance perspective, using a methodological framework built on the basic tenets of elite theories. The analysis suggests that Philippine electricity governance processes have been influenced by the priorities and agendas for governing the country’s socio-economic activities and that these priorities and agendas have essentially reflected the changing interests of the dominant, ‘politically powerful’ elites. By implication, this suggests that Philippine electricity reform is largely a process through which the elites have continued to realign their interests (for example, extending their business interests into the electricity industry) with the electricity industry interests (such as, reducing the debts of public electric utilities). This realignment has led to significant industry restructuring and privatisation, with limited efforts to improve competition and regulatory independence. The outcome has been a highly concentrated market dominated by a few large conglomerates that are restrained neither by adequate competition nor by effective regulation. In such a setting, the question of industry performance has become subservient to the more pressing need to redress (narrow) private interests. This also explains why the Philippine electricity industry has always been slow in addressing issues of public concern. This research further posits that the establishment of a ‘strong’ regulator is essential to translate the implementational success of reform into improved industry performance, as it provides a necessary check-and-balance between financial and socioeconomic objectives for governing the electricity industry.

The growth in the microfinance industry in the Philippines as a potential ‘financial inclusion’ innovation is a welcome development. Micro, small and medium enterprises (MSMEs) and low-income clients are able to increase their economic activity and income, build up assets, prepare against emergencies and invest in education, health and housing services.

But despite the many benefits and growing importance of microfinance, there remain social and financial performance issues as well as impact concerns that continue to challenge the industry. Central to its success is a strong link between rural finance and other components of development like access to basic infrastructure, appropriate technology and improved marketing infrastructure that are necessary conditions for competitive and sustainable economic activities. The inclusion of the private sector in financial intermediation must be reinforced by microfinance institutions (MFIs) and other channels of government funds that have the required competence, network, carrying capacity as well as infrastructure to minimise, if not totally eliminate, credit pollution and defaults. Regular access and proper use of credit ultimately leads to increase in total income, the springboard of the two long-standing development objectives of poverty alleviation and food security. The chapter discusses the role of microfinance in rural development in the Philippines. It particularly identifies the effects of microcredit on input use, productivity and income in the context of Philippine agriculture. The chapter concludes with an overview of the success of microfinance in the Philippines followed by policy directions.