Template-Type: ReDIF-Article 1.0 Author-Name: Gerald C. Nelson Title: Policy Reform for Philippine Sugar: Is Now the Time? Abstract: Recent developments in the world sugar market—probably the most distorted of all commodity markets— suggest that domestic policy responses in the Philippines need to be realigned towards a smooth transition to the world market environment. The paper first describes these events in the sugar sector as well as the external changes. It then investigates the nature and magnitude of efficiency losses and transfers resulting from current domestic policies. Various policy options to improve the efficiency of resource use in the sector are also proposed. Journal: Philippine Review of Economics Pages: 1-19 Volume: 28 Issue: 1 Year: 1991 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/159/443 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:28:y:1991:i:1:p:1-19 Template-Type: ReDIF-Article 1.0 Author-Name: Elvira A. Zamora Author-Workplace-Name: College of Business Administration, University of the Philippines Title: The Just-In-Time System in Selected Philippine Manufacturing Companies Abstract: The study evaluated the performance of the Just-In-Time System in four Philippine manufacturing companies. Research results indicate that the JIT concept can be applied successfully in the Philippines, and that the impact on operations is likely to be comparable with that in typical Japanese ?rms. However, there are indications that the system may not be readily applicable to raw materials and ?nished goods inventory. Findings also tend to show that the most important factor contributing to the success of the J IT effort is top management support, and the most important factor that in?uences the choice of speci?c JIT projects is the nature of manufacturing processes and equipment used in the company. There were also indications that differences in J IT results exist between companies engaged in assembly operations and companies engaged in continuous manufacturing. The study employed the case study approach and relied mostly on information obtained from plant visits and interviews with key officers of the selected ?rms. Average annual inventory reduction was the key measurement variable. Disparities in the levels of success were explained in terms of four success determinants — top management support, employee readiness and cooperation, engineering support, and supplier cooperation — and three project selection factors — manufacturing processes and equipment, product demand patterns, and product characteristics. Given the findings of the study, a four-phase JIT implementation program was developed. Journal: Philippine Review of Economics Pages: 20-38 Volume: 28 Issue: 1 Year: 1991 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/162/441 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:28:y:1991:i:1:p:20-38 Template-Type: ReDIF-Article 1.0 Author-Name: Virginia de Gui-Abiad Author-Workplace-Name: Agricultural Credit Policy Council Title: Borrower Transaction Cost Credit Rationing in Rural Financial Markets: The Philippine Case Abstract: This study looks at borrower transaction costs in rural ?nancial markets and its role in the rationing of credit in the Philippines. The objectives are: a) to quantify borrower transaction costs in rural ?nancial markets; b) to determine the factors that affect and are affected by the level of transaction costs; and c) to determine the role of borrower transaction costs as a credit rationing mechanism in the regulated and deregulated periods. The data set used is cross-section data from a household survey conducted in 1987 in six provinces in the Philippines. Regression analysis of the data using a simultaneous equations model was carried out, with two-stage least squares (TSLS) as the method of estimation. Three major conclusions can be drawn from the results of this study. Firstly, transaction cots play an important role in the demand for credit and in the rationing of credit among borrower classes. Second, the lifting of interest rate restrictions decreased the absolute level of transaction costs in the deregulated period compared to the regulated period - but the change was not statistically signi?cant, indicating that some barriers may be preventing its full effect. And third, transaction costs have a regressive irnpsct on borrowers, which instead of improving aiter deregulation, has proven to be of greater magnitude. A cross-country comparison was made for the Philippines and ?ve other underdeveloped countries. All six countries, including the Philippines, show a regressive transaction oost structure in relation to various loan sizes. Transaction costs as a percentage of loan amount received and as a proportion of nominal interest rate were greater for small loans and smaller for medium and large loans. For the Philippines, this regressive structure became more pronounced in the deregulated compared to the regulated period. Journal: Philippine Review of Economics Pages: 39-55 Volume: 28 Issue: 1 Year: 1991 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/163/438 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:28:y:1991:i:1:p:39-55 Template-Type: ReDIF-Article 1.0 Author-Name: T. Tambunan Author-Workplace-Name: Center for Development Planning, Erasmus University, Burgemeester Oudlaan 50, Rotterdam Title: The Role of Small Firms in Indonesia Abstract: This study examines the development potential of small firms which provide the bulk of employment in the manufacturing sector in Indonesia. The development of these firms during the period 1974-86 is looked into in terms of the number of establishments, employment and value added, as well as their relative importance in terms of income generation. Finally, the various factors affecting the growth and development of small firms are explored for their policy implications. Journal: Philippine Review of Economics Pages: 56-85 Volume: 28 Issue: 1 Year: 1991 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/252/442 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:28:y:1991:i:1:p:56-85 Template-Type: ReDIF-Article 1.0 Author-Name: M. A. B. Siddique Author-Workplace-Name: University of Western Australia Title: The Economics of Tea and Coffee Consumption in Australia Abstract: Demand for non-alcoholic beverages (NAB) in Australia is analyzed for the period 1964-89, with the use of consumption theory. The study's findings, which generally support those of earlier studies, suggest that demand for NAB is price-inelastic. A comparison of income elasticities further suggest that tea is an inferior good, coffee a necessity, and softdrinks, a luxury. Journal: Philippine Review of Economics Pages: 86-99 Volume: 28 Issue: 1 Year: 1991 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/253/437 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:28:y:1991:i:1:p:86-99 Template-Type: ReDIF-Article 1.0 Author-Name: Nazma Begum Author-Workplace-Name: Department of Economics, Dhaka University, Bangladesh Title: A Model of Inflation for Bangladesh Abstract: The study formulates a model of inflation for Bangladesh using a detailed approach which concentrates both on aggregate supply and demand. The final model consisting of nine semi-reduced form equations is empirically tested. The empirical test of the inflation equation for the model shows that the significant variables for inflation are agricultural and import bottlenecks, government expenditure, rate of interest, wage rate, bank credit and expected inflation. The signs of the coefficients of agricultural bottlenecks, rate of interest and credit show the dominance of the supply-side cost-push effect while the signs of the coefficients of import bottlenecks, government expenditure, wage and expected inflation show the dominance of the demand side effect. The policy shocks applied to the model reveals that devaluation reduces output and investment. Reduction in bank credit reduces output, investment and export while increasing prices. A simultaneous increase in exchange rate and decrease in bank credit reduces output, export and investment, and increases price inflation or in effect leads to stagflation. Journal: Philippine Review of Economics Pages: 100-117 Volume: 28 Issue: 1 Year: 1991 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/254/436 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:28:y:1991:i:1:p:100-117