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Is Government a Good Investment? Public Transfers for Filipino Generations Born in 1950 to 2020

Author

Listed:
  • Estopace, Katha Ma-i M.
  • Abrigo, Michael R.M.
  • Tam, Zhandra C.
  • Alicante, Kean Norbie F.

Abstract

This paper presents a new comprehensive and consistent set of public transfer accounts, disaggregated by age and major government programs from 1950 to 2020. Based on these public transfer accounts, we find that except for some programs, particularly social health insurance and old-age pensions, the Philippines’ public transfer system as a whole is fiscally sustainable, with cumulative lifetime net contributions due to government across cohorts. The implied rates of return from key social protection programs also approximate market interest rates, especially when these programs are taken together, suggesting that the country’s public transfer system closely mimics competitive market outcomes. Comments to this paper are welcome within 60 days from the date of posting. Email publications@pids.gov.ph.

Suggested Citation

  • Estopace, Katha Ma-i M. & Abrigo, Michael R.M. & Tam, Zhandra C. & Alicante, Kean Norbie F., 2022. "Is Government a Good Investment? Public Transfers for Filipino Generations Born in 1950 to 2020," Discussion Papers DP 2022-57, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2022-57
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    File URL: https://www.pids.gov.ph/publication/discussion-papers/is-government-a-good-investment-public-transfers-for-filipino-generations-born-in-1950-to-2020
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    More about this item

    Keywords

    public sector; demographic change; National Transfer Account; intergenerational transfers; intergenerational equity; fiscal sustainability;
    All these keywords.

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