Abstract
This issue delves into key economic challenges and policy considerations in the Philippines, covering topics such as balance of payments, credit markets, public enterprises, and rural income structures. A study on the monetary approach to the balance of payments tests the claim that domestic credit expansion leads to external imbalances, using empirical methods to validate the hypothesis. Another article explores the role of informal credit markets in promoting new technology in the rice and corn sectors. The macroeconomic impact of Philippine public enterprises is also examined, assessing their contributions to investment, employment, and fiscal sustainability. A separate study investigates the structure of rural household incomes, focusing on the role of nonfarm employment opportunities in mitigating agricultural sector weaknesses. An analysis of the Philippine cooperative system reviews its successes, failures, and persistent challenges, offering insights into policy improvements. Lastly, a study on defense spending and economic growth tests causal relationships.
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