Abstract
This issue examines key economic and policy issues shaping Philippine development, from capital inflows and debt valuation to local governance and trade liberalization. One study underscores the need to redefine agricultural development and bolster industries and tradable services to drive sustainable growth. Another explores the nature of capital inflows to developing countries, highlighting the trade-offs of full sterilization on investment and growth. A related paper assesses the Institutional Investor Country Risk Rating to determine whether secondary market prices accurately reflect debt values, revealing issues of market illiquidity. Local governance is analyzed through an investigation of LGU bonds in the context of macroeconomic volatility. On the trade front, the issue includes an in-depth assessment of the Multi-Fibre Agreement. A review of existing literature and model-based analysis shed light on the implications of MFA liberalization for both importers and exporters.
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