ECONOMIC POLICY MONITOR

PIDS EPM 2020-2021: Reset and Rebuild for a Better Philippines in the Post-pandemic World
by Philippine Institute for Development Studies

This issue of the Economic Policy Monitor (EPM) focuses on resetting and rebuilding from the COVID-19 pandemic to create a better Philippines in the post-pandemic world. It discusses possible actions to foster a better post-pandemic environment, such as resetting capitalism, making businesses more ethical through stakeholder capitalism, pursuing green and inclusive recovery, and maintaining a robust and healthy workforce. It also assesses the country’s macroeconomic performance in 2020, when the COVID-19 was declared a pandemic, and examines its prospects in 2021 and 2022 against the evolving global and domestic backdrop. Further, this EPM provides policy updates on poverty reduction and social protection; gender; health; education; labor and employment; housing; agriculture; environment and natural resources; trade and industry; services; science, technology, and innovation; infrastructure; energy; and fiscal policy. Click here to download the publication.

DISCUSSION PAPER SERIES

DP 2021-23: The Multifaceted Health Impacts of the COVID-19 Pandemic
by Valerie Gilbert T. Ulep

Understanding the direct and indirect health consequences of the COVID-19 pandemic is critical in designing a holistic public health response. This study has two objectives. First, we demonstrated the disruption of essential healthcare services using data from selected government facilities. Second, we estimated the productivity losses from direct and indirect health impacts of the pandemic. Validating our earlier study using health insurance claims, our findings showed a sharp decline in admissions and consultations in selected government facilities, particularly among the vulnerable population. Based on our estimates, the long-run costs from productivity losses from direct and indirect health impacts of the pandemic amount to PHP 2.3 trillion (at net present value). Indirect health impacts account for the majority of these costs. Click here to download the discussion paper.

PIDS study provides recommendations for a more effective, responsive 4Ps payment system

The government should review the provision of the Pantawid Pamilyang Pilipino Program (4Ps) cash grants to make it more effective and responsive to the needs of its beneficiaries.

This was underscored during a webinar recently organized by state think tank Philippine Institute for Development Studies (PIDS) on “Evaluating the Pantawid Pamilyang Pilipino Program's Payment System”. The webinar featured a PIDS study that examined the program’s payment system in terms of the amount, frequency, and mode of payment delivery of cash transfers. READ MORE

ICT expert and advocate calls for enactment of laws supporting 21st century ICT

The primary role of government is to establish a policy environment that promotes 21st-century information and communications technology (ICT).

This was according to Engr. Pierre Tito A. Galla, co-founder of Democracy.Net.PH, during the webinar “Analyzing the Results of the 2019 National ICT Household Survey” recently organized by the Philippine Institute for Development Studies (PIDS). READ MORE

Gov't must create 'enabling environment' for telcos in PH, says cable and telco assoc head

The government must create an enabling environment where telecommunications (telco) industry players could bridge the country’s digital divide.

Mr. Joel Dabao, president of the Philippine Cable and Telecommunications Association (PCTA), Inc., said this during a webinar recently organized by the Philippine Institute for Development Studies. READ MORE

BSP backs DSWD's financial literacy, inclusion efforts for 4Ps beneficiaries

The Bangko Sentral ng Pilipinas (BSP) supports the efforts of the Department of Social Welfare and Development (DSWD) to promote financial literacy and inclusion among the Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries.

BSP Economic and Financial Literacy Office Acting Deputy Director Sarah Padilla emphasized that 4Ps beneficiaries need an “intensified” financial literacy program, given that only a small portion of program recipients can save and invest the cash grants. The 4Ps is a flagship program of the government lodged with the DSWD to help extremely poor households improve their health, nutrition, and education. READ MORE

Businesses must be socially responsible toward society--business ethics professor

All businesses are “socially bound to always think of the welfare of the whole”.

This was highlighted by Dr. Benito L. Teehankee, a business ethics professor at the De La Salle University’s Management and Organization Department, during the webinar on “Resetting Capitalism” conducted as part of the 7th Annual Public Policy Conference (APPC). READ MORE

Business orgs, not morally bound to serve society's needs--economics professor

Business firms have no moral responsibility to serve the interests of others. However, the individuals that comprise these institutions are morally committed to look after the interests of others.

This was underscored by Dr. Niceto S. Poblador, a retired professor of economics and management at the University of the Philippines, during the first of the four-part webinar series of the 7th Annual Public Policy Conference (APPC). READ MORE

Human capital investment could improve IT-BPM sector in PH, says BSP researcher

Investing in human capital could improve the country’s labor productivity in the information technology and business process management (IT-BPM) sector.

Dr. Laura Britt-Fermo, a senior researcher at the Bangko Sentral ng Pilipinas (BSP), said this could help the IT-BPM sector move up the global value chain, which could then ensure the industry’s competitiveness in the post-pandemic era. READ MORE

Financial inclusion crucial in addressing rise in poverty due to COVID-19 pandemic

New research suggests that there will be an increase in extreme poverty resulting from the COVID-19 pandemic. For Filipinos, one way to address this is through financial inclusion.

This was according to Margarita Debuque-Gonzales, senior research fellow at the Philippine Institute for Development Studies (PIDS), who presented the PIDS study titled “Understanding and measuring financial inclusion in the Philippines” in a research forum jointly organized by PIDS and the Bangko Sentral ng Pilipinas. The study was coauthored with PIDS Supervising Research Specialist John Paul Corpus. READ MORE

NCIP intensifies partnerships with gov't agencies, stakeholders to address 'limited funds'

The National Commission on Indigenous Peoples (NCIP) has intensified its partnership with other government agencies and stakeholders to supplement its meager budget.

This was shared by NCIP Director for Policy, Planning and Research Mary Grace Buasen during a webinar recently organized by the Philippine Institute for Development Studies (PIDS) on “Assessing the Institutional Arrangements and the Implementation of Policies on Indigenous Peoples”. The webinar featured the findings of the PIDS study “Review of Indigenous Peoples Policy and Institutional Grounding” authored by PIDS Senior Research Fellow Sonny Domingo and PIDS Research Specialist Arvie Joy Manejar. READ MORE

Foreign direct investment seen as key financing source post-pandemic--BSP financial expert

Governments need to focus on improving their investment environments to retain and attract foreign direct investments (FDIs) as the COVID-19 pandemic has created a lot of economic uncertainties that have delayed investment plans.

This was emphasized by Hazel C. Parcon-Santos, a senior researcher at the Bangko Sentral ng Pilipinas (BSP), during the webinar “Resilient Legs for Economic Recovery in the Post-Pandemic Era” organized by the Philippine Institute for Development Studies in collaboration with the BSP. READ MORE

Revisit, assess law protecting indigenous peoples--PIDS study

There is a need to revisit the implementation of Republic Act 8371 or the Indigenous Peoples Rights Act (IPRA) of 1997 to enhance service delivery to IPs.

This was according to Philippine Institute for Development Studies (PIDS) Senior Research Fellow Sonny Domingo at a webinar last October in support of the National Indigenous Peoples Month. READ MORE

Firms should prioritize mental resilience of employees amid the pandemic--HR director

Several mental stressors affect the workforce, especially during the pandemic, thus, the need to prioritize mental health.

Pryncess Hyacinth Esguerra, director of the Human Resource Department of the Robinsons Land Corporation (RLC), emphasized this during the closing program of the 7th Annual Public Policy Conference (APPC) webinar series organized by the Philippine Institute for Development Studies (PIDS). READ MORE

UNESCAP director identifies opportunities to improve social protection in the Asia-Pacific

The COVID-19 pandemic exacerbates socioeconomic challenges and underscores the need for better social protection schemes in the Asia-Pacific region.

This was highlighted by Dr. Srinivas Tata, director of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP)’s Social Development Division, during the last of the four-part webinar series of the 7th Annual Public Policy Conference (APPC). READ MORE

Labor economist proposes policy interventions to enhance PH workforce post-pandemic

The impacts of the COVID-19 pandemic reversed the country’s economic and labor sector gains in the past decade.

This was pointed out by Yoonyoung Cho, senior economist at the World Bank, during the last of the four-part webinar series of the 7th Annual Public Policy Conference (APPC). READ MORE

Climate finance crucial in addressing climate change amid COVID-19 pandemic, says Green Climate Fund director

Countries need long-term and affordable climate finance in addressing climate change.

This is especially true for developing countries, where access to climate finance is “severely undermined” by the economic and financial crisis resulting from the COVID-19 pandemic, according to German Velasquez, director of Green Climate Fund’s Mitigation and Adaptation Division, during the third of the four-part webinar series of the 7th Annual Public Policy Conference (APPC) organized by the Philippine Institute for Development Studies. READ MORE

FACT FRIDAY

Every Friday, PIDS releases nuggets of research results culled from different PIDS studies. Here are some of the latest #PIDSFactFriday issues.

INFOBITS

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Webinar Bites

Watch these videos and get a glimpse of the highlights of our webinars on "Assessing the Institutional Arrangements and the Implementation of Policies on Indigenous Peoples" held on October 21, “PIDS-BSP Webinar on Resilient Legs for Economic Recovery in the Post-Pandemic Era” held on October 27, "Evaluating the Pantawid Pamilyang Pilipino Program's Payment System" held on November 4, “Analyzing the Results of the 2019 National ICT Household Survey” held on November 11, and "Examining the Health Impacts of the COVID-19 Pandemic in the Philippines" held on November 18.

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