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The Philippines on debt row

Author

Listed:
  • Beja, Jr., Edsel

Abstract

Heavy indebtedness and debt service payments, indicated by debt magnitudes and shares to national budgets, revenues, or outputs, mean that spending for public infrastructure and basic services is crowded out, even as they entail more borrowings in order to timely meet debt obligations. The failure to reduce indebtedness, improve national revenues, and raise incomes has contributed to the economic decrepitude of the Philippines. Debt relief is neces-sary to pull the country out of such a state of affairs.

Suggested Citation

  • Beja, Jr., Edsel, 2009. "The Philippines on debt row," MPRA Paper 16553, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:16553
    as

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    File URL: https://mpra.ub.uni-muenchen.de/23232/1/MPRA_paper_23232.pdf
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    References listed on IDEAS

    as
    1. Beja, Edsel Jr., 2007. "Win or Lose, it’s the policy we choose: Comparative economic performance of the inflation targeters," MPRA Paper 4833, University Library of Munich, Germany, revised 12 Sep 2007.
    2. Seema Jayachandran & Michael Kremer, 2006. "Odious Debt," American Economic Review, American Economic Association, vol. 96(1), pages 82-92, March.
    3. M. Shahe Emran & Joseph E. Stiglitz, 2004. "Price-neutral Tax Reform With an Informal Economy," Public Economics 0407010, EconWPA.
    4. Nedelyn Magtibay-Ramos & Gemma Estrada & Jesus Felipe, 2008. "An Input-Output Analysis of the Philippine BPO Industry," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 22(1), pages 41-56, May.
    5. Lim, Joseph Y., 2000. "The Effects of the East Asian Crisis on the Employment of Women and Men: The Philippine Case," World Development, Elsevier, vol. 28(7), pages 1285-1306, July.
    6. Baunsgaard, Thomas & Keen, Michael, 2010. "Tax revenue and (or?) trade liberalization," Journal of Public Economics, Elsevier, vol. 94(9-10), pages 563-577, October.
    7. Léonce Ndikumana & James Boyce, 2002. "Africa’s Debt: Who Owes Whom?," Working Papers wp48, Political Economy Research Institute, University of Massachusetts at Amherst.
    8. Lim, Joseph Y., 2006. "Towards Financing the Millennium Development Goals of the Philippines," Discussion Papers DP 2006-23, Philippine Institute for Development Studies.
    9. Manasan, Rosario G., 2007. "Financing the Millennium Development Goals: The Philippines," Discussion Papers DP 2007-06, Philippine Institute for Development Studies.
    10. Rosario G. Manasan, 2007. "Financing the Millennium Development Goals : The Philippines," Development Economics Working Papers 21928, East Asian Bureau of Economic Research.
    11. Lamberte, Mario B. & Orbeta, Aniceto Jr. C. & Cororaton, Caesar B. & Guerrero, Margarita F., 1999. "Impacts of the Southeast Asian Financial Crisis on the Philippine Manufacturing Sector," Discussion Papers DP 1999-09, Philippine Institute for Development Studies.
    12. Balisacan, Arsenio M. & Fuwa, Nobuhiko, 2004. "Changes in Spatial Income Inequality in the Philippines: An Exploratory Analysis," WIDER Working Paper Series 034, World Institute for Development Economic Research (UNU-WIDER).
    13. Joseph Lim, 2008. "Central banking in the Philippines: from inflation targeting to financing development," International Review of Applied Economics, Taylor & Francis Journals, vol. 22(2), pages 271-285.
    14. Beja, Edsel Jr., 2006. "Capital Flight and the Hollowing Out of the Philippine Economy in the Neoliberal Regime," MPRA Paper 4830, University Library of Munich, Germany.
    15. Robert S. Dohner & Ponciano Intal, Jr., 1989. "III: The Marcos Legacy: Economic Policy and Foreign Debt in the Philippines," NBER Chapters,in: Developing Country Debt and Economic Performance, Volume 3: Country Studies - Indonesia, Korea, Philippines, Turkey, pages 371-372 National Bureau of Economic Research, Inc.
    16. Orbeta, Aniceto Jr. C. & Manasan, Rosario G. & de Guzman, Generoso & Reyes, Celia M., 1999. "Social Impact of the Regional Financial Crisis in the Philippines," Discussion Papers DP 1999-14, Philippine Institute for Development Studies.
    17. Joseph Hanlon, 2000. "How much debt must be cancelled?," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(6), pages 877-901.
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    Cited by:

    1. Luis Dumlao, 2013. "Gross International reserves: accumulation management, and relation to debt," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 50(1), pages 1-22, June.

    More about this item

    Keywords

    Philippines; indebtedness; debt penalty; debt relief;

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

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