Rogelio Mercado, Senior Economist at the SEACEN Centre, has published a paper entitled: “Are Capital Inflows Expansionary or Contractionary in the Philippines” at the Journal of Asian Economics. A working paper version was released as SEACEN WP27/2017. Click to read more.
The paper shows the following:
• Both bonds and non-bond capital inflows are expansionary to output and credit growth in the Philippines;
• For bond inflows, a positive impact was found for the short term while no effect was evident for the long term;
• For non-bond inflows, the short-term impact on output and credit was significantly greater, but this was followed in the medium term by a negative impact on output.
SEACEN Course on Monetary Policy Analysis with DSGE Models
The SEACEN Centre successfully concluded the SEACEN Course on Monetary Policy Analysis with DSGE Models, held in Colombo, Sri Lanka, from 15–18 June 2026 and graciously hosted by the Central
