Template-Type: ReDIF-Article 1.0 Author-Name: Ricardo D. Ferrer Author-Workplace-Name: University of the Philippines Title: Society, Politics, and Economic Development: Some Exploratory Notes Abstract: This paper attempts to undertake a further discussion of the dynamics of social, political, and economic development, The author believes that there exist broad but well-specified theories of social, political, and economic development, one of which is Marxism which permits formulation of broad but empirically testable hypotheses. The paper presents some empirical hypotheses deducible from the Marxist theory of social change, which are subsequently Iisted using the same set of data used by Adelman and Morris (1967). Basically, the results demonstrate that the Marxist proposition about social change can be subjected to standard empirical tests, and provide empirical support to two fundamental Marxist propositions, namely that the rate of social and economic development increases upon attaining some thresholds in the development of capitalist forces in society and that imperialism, specified in some manner, is a significant factor in economic development. Journal: Philippine Review of Economics Pages: 01-38 Volume: 21 Issue: 1&2 Year: 1984 Month: March & June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/download/331/333 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:21:y:1984:i:1&2:p:01-38 Template-Type: ReDIF-Article 1.0 Author-Name: John A. Larkin Author-Workplace-Name: State University of New York Title: The International Face of the Philippine Sugar Industry: 1836-1920 Abstract: The role of international trade in the development of the sugar industry in the Philippines is explored here. It is established that the formation of the Philippine sugar industry during the crucial 84-year period from 1836 to 1920 presents an example where outside forces supplied both the initial impulse for change and the guiding force of development. Moreover, Filipino entrepreneurship was essential for the creation of new sugar estates, and native labor transformed the Philippine jungle into prime agricultural land. These actions led to the creation of a sugar society decidedly colonial Filipino in structure, culture and outlook. Journal: Philippine Review of Economics Pages: 39-58 Volume: 21 Issue: 1&2 Year: 1984 Month: March & June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/download/332/330 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:21:y:1984:i:1&2:p:39-58 Template-Type: ReDIF-Article 1.0 Author-Name: Gregory C. Lassiter Author-Workplace-Name: California State University Author-Name: Daniel G. Sisler Author-Workplace-Name: Cornell University Title: The Factor Proportions Theory of International Trade: Empirical Results from the United States and the Philippines Abstract: This paper tests empirically whether the factor proportions of Hecksher-Ohlin theory is applicable to two countries with highly contrasting factor endowments -- the United States and the Philippines. A multi-factor model is presented which includes measures of skilled labor, technology and natural resources along with capital and labor, and incorporates a measure of net export performance that overcomes weaknesses in previously used measures. It was hoped that empirical tests of this more elaborate trade model might reconcile the paradoxical test results of the more simplistic two-factor models. The findings however, provide a few definitive guidelines in the development of a more refined empirical test. Journal: Philippine Review of Economics Pages: 59-76 Volume: 21 Issue: 1&2 Year: 1984 Month: March & June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/download/333/331 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:21:y:1984:i:1&2:p:59-76 Template-Type: ReDIF-Article 1.0 Author-Name: Filomena M. Cantoria Author-Workplace-Name: University of the Philippines, College of Business Administration Title: The Role of Expectations in Interest Rate Determination Abstract: The purpose of this paper is to understand the role of expectations in the determination of interest rates in the Philippines. The study focused on the interest rates of Philippine Treasury Bills from 1970 to 1980. The results show that the market makes forecast of the future levels of interest rates and that the market participants revise these expectations in a manner consistent with the error-learning behavior. The changes in expectations as measured by the forward rates are a positive function of the forecasting errors, However, the forward rates are biased estimates of future rates, due to the presence of a liquidity premium on longer-term maturities. This makes the Treasury bills of varying maturities of varying maturities non-substitutable with each other. Journal: Philippine Review of Economics Pages: 77-99 Volume: 21 Issue: 1&2 Year: 1984 Month: March & June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/download/334/332 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:21:y:1984:i:1&2:p:77-99 Template-Type: ReDIF-Article 1.0 Author-Name: Eli M. Remolona Author-Workplace-Name: University of the Philippines Title: A Simple Model of Squatters Abstract: The object of the model is to determine the number of squatters in a city. In the model, households with incomes below a certain threshold level of income choose to squat and households with incomes above that threshold choose not to squat. This threshold depends on the amount of land available to each squatter household, which itself depends on the number of households choosing to be squatters. The equilibrium established consists of values for the threshold and the amount of land per squatter household that are both consistent with utility-maximizing choices, given such factors as the rate of eviction and the distribution of income, An increase in the rate of eviction will reduce the equilibrium number of squatters in a city even if the total amount of squatter land remains fixed. Fewer households choose to squat because of this higher risk of eviction. A numerical example is presented to show how plausible the model is. Journal: Philippine Review of Economics Pages: 101-111 Volume: 21 Issue: 1&2 Year: 1984 Month: March & June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/download/335/324 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:21:y:1984:i:1&2:p:101-111 Template-Type: ReDIF-Article 1.0 Author-Name: Jose Encarnacion Jr. Author-Workplace-Name: University of the Philippines Title: Becker on the Interaction Between Quantity and Quality of Children Abstract: No Abstract Journal: Philippine Review of Economics Pages: 113-115 Volume: 21 Issue: 1&2 Year: 1984 Month: March & June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/download/633/315 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:21:y:1984:i:1&2:p:113-115 Template-Type: ReDIF-Article 1.0 Author-Name: Author Author-Workplace-Name: Not Available Title: Abstracts of Dissertations and Theses Abstract: No Abstract Journal: Philippine Review of Economics Pages: 117-122 Volume: 21 Issue: 1&2 Year: 1984 Month: March & June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/download/634/317 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:21:y:1984:i:1&2:p:117-122