(SP58) Exports and Economic Development by Delano Villanueva
A robust empirical determinant of long-term economic growth in many developing countries has been the expansion and diversification of the export sector. The latter in turn has been influenced by capital accumulation and economic growth. The growth model developed here explores this interdependence in the context of the new growth theory. The analytical results are…
(SP57) Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines by Delano Villanueva
This paper proposes a model of endogenous economic growth and distribution explicitly incorporating social extraction and political competition with an application to the Philippine historical experience. The major objective is to explain developments in the distribution of national income and wealth and in the growth rate of per capita capacity output. When calibrated the proposed…
(SP56) International Cooperation in Central Banking by Vicente B. Valdepeas Jr.
This paper addresses the need for cooperation in central banking and traces the evolution of the research and training activities of The SEACEN Centre. It discusses the successor generation of central bankers; resources for cooperation in central banking; lessons learned; and a vision of growth and stability in the Caribbean community.
(SP55) Savings Mobilization: The Case of Indonesia by Mulyana Soekarni
This paper describes the measures which have been carried out by the Indonesian Government to mobilize domestic savings and identifies the key variables explaining the behaviour of private savings in Indonesia.
(SP54) Structural Changes and Policy Issues in ASEAN Financial Markets by Vicente B. Valdepeas Jr.
This is an update of the paper which was originally prepared by invitation for the Nineteenth Conference of the Federation of ASEAN Economic Associations hosted in Manila by the Philippine Economic Society on 8-9 December 1994. Its presentation in Manila stressed the dynamic adjustments in the money and capital markets in the individual ASEAN countries…
(SP53) Money Income Prices and Causality: The Nepalese Case by Danda Pani Paudel
This paper is aimed at reviewing briefly the monetary system in Nepal and then performing empirical tests conducive to the settlement of the disputes on the direction of causality. Accordingly the author re-estimated the demand for money and re-examined the causal relationship between money income and prices in the case of Nepal. He uses annual…
(SP52) Market-Oriented Central Banking by Vicente B. Valdepeas Jr.
This paper was originally prepared by invitation for the International Seminar on Banking and Financial Reform in Asia Pacific hosted by the Peoples Bank of China on 15-20 September 1991 at Hangzhou Zheyiang Province Peoples Republic of China. The Seminar was mounted in cooperation with the Center for Pacific Basin Monetary and Economic Studies of…
(SP51) Exports Growth and Causality in the SEACEN Countries by Danda Pani Paudel
This paper examines the causal relationship between exports and economic growth (and vice versa) for the SEACEN Countries. Empirical tests were performed with and without component effects of exports to economic growth to see which variable influences another. Unit root test and cointegration test were conducted to test the stationarity of the time series to…
(SP50) Some Analytics of Migrant Earnings the Current Account and Central Bank Policies by Diwa C. Guinigundo
This paper traces the differences in some selected South East Asian countries (SEACEN) accounting system involving overseas workers remittances (OWRs) in their respective balance of payments and the incentive schemes to the relative importance of OWRs to the current account within the broad context of on-going liberalization and deregulation in the region. The countrys stage…
(SP49) Factors Affecting Savings Behaviour in SEACEN Countries by Y.M.W.B. Weerasekera
This paper attempts to identify the factors affecting savings behaviour in the SEACEN countries for the period 1970-1991 using a simple regression model. The time series data have been tested for stationarity using unit roots and cointegration techniques. Results indicate that current income exports and dependency ratios are important determinants of savings. The response of…