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The Philippine economy and poverty during the global economic crisis

Author

Listed:
  • Arsenio Balisacan

    () (University of the Philippines School of Economics)

  • Sharon Piza

    (Asia Pacific Policy Center)

  • Dennis Mapa

    (University of the Philippines School of Statistics)

  • Carlos Abad Santos

    (Asia Pacific Policy Center)

  • Donna Odra

    (Asia Pacific Policy Center)

Abstract

Anecdotal evidence permeates accounts on the impact of the global economic crisis (GEC) on Philippine poverty. This study systematically assesses the evidence and recent data. It adopts a somewhat eclectic approach, applying regression and decomposition techniques to trace the GEC impact on GDP and its major components, constructing panel data from nationally representative household surveys to trace the changes in household welfare during the crisis, and combining national income accounts and household survey data to simulate the differential effects of the crisis across population groups and social divides. Empirical findings suggest that although the Philippine economy did not slide to recession during the GEC, the impact of the crisis on the economy and poverty across population groups was nonetheless severe—and may linger for many years to come.

Suggested Citation

  • Arsenio Balisacan & Sharon Piza & Dennis Mapa & Carlos Abad Santos & Donna Odra, 2010. "The Philippine economy and poverty during the global economic crisis," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 47(1), pages 1-37, June.
  • Handle: RePEc:phs:prejrn:v:47:y:2010:i:1:p:1-37
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/644/3
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    References listed on IDEAS

    as
    1. Magnoli Bocchi, Alessandro, 2008. "Rising growth, declining investment : the puzzle of the Philippines," Policy Research Working Paper Series 4472, The World Bank.
    2. Datt, Gaurav & Hoogeveen, Hans, 2003. "El Nino or El Peso? Crisis, Poverty and Income Distribution in the Philippines," World Development, Elsevier, vol. 31(7), pages 1103-1124, July.
    3. Felipe M. Medalla & Karl Robert L. Jandoc, 2008. "Philippine GDP Growth After the Asian Financial Crisis : Resilient Economy or Weak Statistical System?," UP School of Economics Discussion Papers 200802, University of the Philippines School of Economics.
    4. Desiree A. Desierto & Geoffrey M. Ducanes, 2013. "Philippines," Chapters,in: Asia Rising, chapter 13, pages 385-407 Edward Elgar Publishing.
    5. Manasan, Rosario G., 2009. "Reforming Social Protection Policy: Responding to the Global Financial Crisis and Beyond," Discussion Papers DP 2009-22, Philippine Institute for Development Studies.
    6. Arsenio M. Balisacan & Hal Hill (ed.), 2007. "The Dynamics of Regional Development," Books, Edward Elgar Publishing, number 4178.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Mapa, Dennis S. & Albis, Manuel Leonard F. & Lucagbo, Michael, 2012. "The Link between Extreme Poverty and Young Dependents in the Philippines:Evidence from Household Surveys," MPRA Paper 40895, University Library of Munich, Germany.
    2. Dennis S. Mapa & Michael Daniel Lucagbo & Heavenly Joy Garcia, 2012. "The link between agricultural output and the states of poverty in the Philippines: evidence from self-rated poverty data," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 49(2), pages 51-74, December.
    3. Sisira Jayasuriya & Purushottam Mudbhary & Sumiter Broca, 2013. "Food Security in Asia: Recent Experiences, Issues and Challenges," Economic Papers, The Economic Society of Australia, vol. 32(3), pages 275-288, September.
    4. Arturo Martinez Jr. & Mark Western & Michele Haynes & Wojtek Tomaszewski, 2014. "Is there income mobility in the Philippines?," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 28(1), pages 96-115, May.

    More about this item

    Keywords

    poverty; economic growth; global economic crisis; Philippines;

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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