Abstract
This issue explores key economic and financial concerns in the Philippines, with studies examining monetary policy, public enterprises, rural income structures, and defense spending. A critical analysis of the monetary approach to the balance of payments tests the validity of the hypothesis that excess domestic credit expansion leads to a deteriorating balance of payments. Informal credit markets play an essential role in technological advancement, particularly in the rice and corn sectors. One study investigates how technical changes have influenced credit market structures, debt burdens, and borrower repayment capacity, offering insights into policy implications. The role of Philippine public enterprises is assessed in terms of their contributions to investment, employment, and national budget deficits. Rural household income structures are examined, focusing on the increasing importance of nonfarm employment in alleviating rural poverty. The challenges of the Philippine cooperative system are also explored, highlighting factors contributing to its successes and failures. An investigation into the relationship between defense spending and economic growth provides evidence for its policy implications.
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