Template-Type: ReDIF-Article 1.0 Author-Name: Annette O. Balaoing-Pelkmans Author-Workplace-Name: Erasmus University Rotterdam School of Economics Title: A new look at Philippine export performance-a firm-level view Abstract: This article introduces a rich new database of the Philippine Statistics Authority that contains the universe of export and import transactions of all firms in the period 1991-2012, merged with all the manufacturing firm surveys since 1996. A new set of stylized facts is presented that pertains to the drivers of export growth and patterns of trade, including the dimensions of geographical location, size, and firm ownership. New firm typologies are developed tracing the behavior of every exporting and importing firm not only in terms of entry, exit, and survival, but also in terms of re-entry, permanent exit, and continuous or resilient survival. Micro evidence points to a steady decline in manufacturing exporters during the period under study with the drastic drop in new entry and survival rates of firms coinciding with a significant increase of permanent exit from export markets. Classification-JEL: F14, C55 Keywords: Export dynamics, firm-level data, firm heterogeneity, firm demographics Pages: 1-31 Volume: 54 Issue: 1 Year: 2017 Month: June File-URL: https://pre.econ.upd.edu.ph/index.php/pre/article/view/946/858 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:54:y:2017:i:1:p:1-31 Template-Type: ReDIF-Article 1.0 Author-Name: Jonna P. Estudillo Author-Workplace-Name: National Graduate Institute for Policy Studies Author-Name: Kinnalone Phimmavong Author-Workplace-Name: National Institute for Economic Research Author-Name: Francis Mark A. Quimba Author-Workplace-Name: Philippine Institute of Development Studies Title: Moving out of poverty: a brief review of the process of inclusive growth in Lao People’s Democratic Republic Abstract: Using a nationally representative data set, this review presents spatial features of poverty in Lao People’s Democratic Republic during its rapid economic growth between 2002 and 2012. We found that although the benefits of rapid economic growth have reached a large segment of the population, these have not flowed uniformly across population groups. The poor have benefitted, but the rich have benefitted more. People residing in Vientiane Capital, those living in urban areas, those belonging to the top quintile, and the Lao-Tai ethnic group obtained higher growth rates of per capita consumption. Access to electricity network significantly enhanced the growth of consumption, indicating the importance of infrastructure in moving out of poverty. Classification-JEL: I32, O15, O1 Keywords: growth, poverty, inequality Journal: Philippine Review of Economics Pages: 32-46 Volume: 54 Issue: 1 Year: 2017 Month: June File-URL: https://pre.econ.upd.edu.ph/index.php/pre/article/view/948/857 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:54:y:2017:i:1:p:32-46 Template-Type: ReDIF-Article 1.0 Author-Name: Edsel L. Beja Jr. Author-Workplace-Name: Ateneo de Manila University Title: Subjective well-being approach for testing money illusion-evidence using data from Social Weather Stations Abstract: This paper tests money illusion using measures of subjective well-being, nominal income, and price. It tests the hypothesis that there is no money illusion in the sense that proportional changes in both nominal income and price do not bring about a change in subjective well-being. The study uses food poverty data from Social Weather Stations as a proxy measure for nominal income and food Consumer Price Index inflation from the Philippine Statistics Authority as a proxy measure for price. The findings suggest no money illusion in general. More specifically, the findings provide conclusive evidence of no money illusion for the food-poor but not for the food-nonpoor. Classification-JEL: C25, D60, I31, O53 Keywords: Money illusion, subjective well-being, income, price, Philippines Journal: Philippine Review of Economics Pages: 47-62 Volume: 54 Issue: 1 Year: 2017 Month: June File-URL: https://pre.econ.upd.edu.ph/index.php/pre/article/view/949/856 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:54:y:2017:i:1:p:47-62 Template-Type: ReDIF-Article 1.0 Author-Name: Rudra P. Pradhan Author-Workplace-Name: Indian Institute of Technology Author-Name: Yasuyuki Nishigaki Author-Workplace-Name: Ryukoku University Author-Name: John H. Hall Author-Workplace-Name: University of Pretoria Title: The multivariate dynamic causal relations between financial depth, inflation, and economic growth Abstract: This paper examines the dynamic causal relationship between financial depth, inflation and economic growth in India and Pakistan using an autoregressive distributive lag bounds testing procedure and vector error correction modeling approach. The paper uses three proxies for financial depth: broad money supply; domestic credit to private sector; and domestic credit provided by the banking sector. The results of this study prove that financial depth, inflation, and economic growth are cointegrated, indicating the presence of a long-run equilibrium relationship between these variables. The study also finds that financial depth, inflation, and economic growth are Granger-causing each other. It is therefore recommended that both India and Pakistan should intensify their financial depth in order to increase economic growth and reduce inflation. Classification-JEL: O43, O16, E44, E31 Keywords: autoregressive distributive lag bounds testing, vector error correction modeling, financial depth, inflation, economic growth Journal: Philippine Review of Economics Pages: 63-93 Volume: 54 Issue: 1 Year: 2017 Month: June File-URL: https://pre.econ.upd.edu.ph/index.php/pre/article/view/950/855 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:54:y:2017:i:1:p:63-93 Template-Type: ReDIF-Article 1.0 Author-Name: Edita A. Tan Author-Workplace-Name: UP School of Economics Title: How we measure poverty underestimates its extent and depth Abstract: The country’s official definition of poverty is based on a threshold income that fails to adequately account for nonfood needs and is unrelated to actual behavior and real choices facing households. The resulting underestimation of the extent of poverty and rate of poverty reduction gives a false sense of comfort to policy-makers. Other sources of data particularly those on nutrition, education, and housing corroborate the existing gap between reality and official measures. After a critical look at existing methods, this paper proposes alternative thresholds of absolute poverty, with special attention to housing, that may provide a more accurate picture of the incidence and extent of the remaining poverty in the country. Classification-JEL: I32, I24, R31 Keywords: poverty measurement, poverty threshold, absolute poverty, housing, education, nutrition and malnutrition Journal: Philippine Review of Economics Pages: 94-119 Volume: 54 Issue: 1 Year: 2017 Month: June File-URL: https://pre.econ.upd.edu.ph/index.php/pre/article/view/951/854 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:54:y:2017:i:1:p:94-119 Template-Type: ReDIF-Article 1.0 Author-Name: Romeo T. Balanquit Author-Workplace-Name: UP School of Economics Author-Name: Lianca P. Coronel Author-Workplace-Name: UP School of Economics Author-Name: Jose Y. Yambao III Author-Workplace-Name: UP School of Economics Title: Measuring political dynasties in Metro Manila Abstract: This paper aims to measure the intensity of political dynasties within the local governments of Metro Manila. Specifically, it tries to answer some questions: Which cities have the highest incidence of political dynasties? Do they necessarily exhibit low levels of political competition? Which families hold the highest intensity of political dynasty in the region? Using official local election results since 1988, we construct and apply a political dynasty index that provides a quantifiable and comparable measure of the prominence of different political families in different localities. We assign weights to family members holding local government positions to measure their horizontal and vertical linkages. Horizontal linkages refer to the relationships among family members holding different positions during a given political term, while vertical linkages refer to the ties among family members in office between two consecutive terms. The degree of entrenchment in power of a ruling family is measured by aggregating the values of its horizontal and vertical linkages. Classification-JEL: D70, I39, O53, P16 Keywords: political dynasties, political competition Pages: 120-137 Volume: 54 Issue: 1 Year: 2017 Month: June File-URL: https://pre.econ.upd.edu.ph/index.php/pre/article/view/952/853 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:54:y:2015:i:1:p:117-142