POLICY NOTES

PN 2019-05: Financial Sector Development:
A Review
by Melanie S. Milo

This Policy Note assesses the financial sector development in the Philippines vis-a-vis other member-states of the Association of Southeast Asian Nations (ASEAN). Among others, it finds that the Philippines has lagged behind other comparable ASEAN member-states, particularly Malaysia and Thailand, with respect to financial deepening, access, and efficiency. There was also no significant transformation in the Philippine financial services sector over the past three decades. Nonetheless, it finds that the Philippine banking system fared better in terms of financial stability. The study urges the Philippine government to push for a more diversified, dynamic, competitive, and resilient financial system that offers a wider range of financial products and services both to consumers and businesses through more efficient delivery channels. Drawing up a comprehensive and detailed long-term strategic action plan for the Philippine financial sector would help to identify reforms to address the weaknesses and actualize the vision of a truly inclusive financial sector that is supportive of the country's economic development. Click here to download the paper.

PN 2019-04: Challenges in the Philippine Mining Industry
by Eligia D. Clemente

This Policy Note revisits the legal framework on Philippine mining, focusing on the Philippine Mining Act (PMA) of 1995 and the Indigenous People's Rights Act (IPRA). It uncovers several issues on the implementation of PMA and IPRA, such as the circumvention of the requirements of permits, delays in the declaration of the claims of the indigenous peoples, and institutional issues within the National Commission on Indigenous Peoples (NCIP). It also notes discrepancies in the implementation of these laws across regions. The study urges the government to review its mining policies and come up with a common implementing guideline for all agencies involved to eliminate personal tendencies to relax rules. It also recommends the augmentation of human resource in NCIP offices for them to carry out their tasks timely and efficiently. Further, with the backlog in personnel, issuances from NCIP can be harmonized, such that a single protocol for permitting can be followed and duplication of requirements can be minimized. Click here to download the paper.

PIDS study recommends review of DICT's functions, scope of authority

Policymakers need to revisit and rethink the scope of power of the Department of the Information and Communications Technology (DICT), according to a study of state think Philippine Institute for Development Studies (PIDS).
 
Established in 2015, the DICT is a government agency tasked to develop policies and plans for ICT development in the country. It exercises broad powers over telecommunications and broadcasting, data privacy, consumer protection, and the promotion of trade and investment in ICT and ICT-enabled services (ICT-ES). READ MORE

Over USD 1 trillion needed annually to achieve SDGs in Asia-Pacific region—UNESCAP

To achieve the 2030 Agenda for Sustainable Development Goals (SDGs), the Asia-Pacific region needs an annual investment of about USD 1.5 trillion (equivalent to PHP 78.9 trillion), according to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).

“This is on top of what [the region] is already spending [for SDGs],” said Vatcharin Sirimaneetham, UNESCAP’s economic affairs officer, during a policy dialogue coorganized with the Philippine Institute for Development Studies (PIDS).

Presenting the results of UNESCAP’s “Economic and Social Survey of Asia and the Pacific 2019”, Sirimaneetham said it is important for the region to “look beyond economic growth and integrate the social dimensions of development”. READ MORE

Govt’s cash transfer can minimize impact of TRAIN, says PIDS consultant

The implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law could affect Filipinos living in poverty. However, its impact on poor households could be minimized through the proper implementation of the unconditional cash transfer (UCT) as stipulated in the law.
 
Under the TRAIN law, households belonging to the lowest five income deciles, which is estimated at 10 million poor families, are to receive cash assistance of PHP 200 per month in 2018, and PHP 300 per month in 2019 and 2020. Of the 10 million households, about 4.4 million are existing Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries. READ MORE

PIDS is now ISO 9001:2015 certified

State think tank Philippine Institute for Development Studies (PIDS) is now ISO 9001:2015 certified after passing the rigorous and grueling assessments of third party auditors in March this year.
 
“We are pleased to announce that PIDS has successfully passed the audit reviews. Thanks to the hard work and sacrifice of everyone who, in one way or another, has contributed to this feat,” PIDS President Celia Reyes said.

Reyes said this feat reflects the Institute’s commitment to uphold its mandate of promoting and providing evidence-based research studies to help policymakers make informed decisions and policies on development issues. READ MORE

S&T experts lament lack of STEM, doctoral degree grads in PH

The Philippines needs to invest in science & technology (S&T) if it wants to keep up with other countries that are stepping up in their innovation efforts.

This was according to PIDS Senior Research Fellow Jose Ramon Albert during a seminar on innovation recently organized by state think tank Philippine Institute for Development Studies (PIDS).

According to Albert, investments in human capital are not being prioritized, noting there is very little spending on scholarships for the science, technology, engineering, and mathematics (STEM) strand in the Philippines. READ MORE

PIDS urged DepEd to review workload policy for public school teachers

The Department of Education (DepEd) should review its policy concerning public school teachers' workload, particularly those concerning administrative and other duties unrelated to teaching.
 
In a study by state think tank Philippine Institute for Development (PIDS) titled "Pressures on Public School Teachers and Implications on Quality", authors Clarissa David, Jose Ramon Albert, and Jana Flor Vizmanos cautioned that actual teaching is increasingly being sidelined by the multitude of other responsibilities and roles that teachers play, which, in turn, can erode teaching quality. READ MORE

PH-Taiwan mutual economic ties remain strong

The Philippines continues to be a major source of manpower for Taiwan’s electronics industry.
 
This is according to Dr. Kristy Hsu, director of the Taiwan ASEAN Studies Center at the Chung Hua Institution for Economic Research (CHIER), during a recent public symposium jointly organized by the Philippine Institute for Development Studies, Philippine APEC Study Center Network, and CHIER.
 
Filipinos are currently the most important labor force in Taiwan’s technology companies, Hsu said. READ MORE

POLICY ISSUE AT A GLANCE

Are Senior HS Graduates Ready for the Job Market and Are Firms Ready to Take Them?

With the passing of the Enhanced Basic Education Act of 2013 (Republic Act 10533), more popularly known as K-12 program, three years were added to basic education kindergarten and two years of senior high school (SHS). Among its objectives is to equip learners with the skills that will better prepare them for employment or entrepreneurship.

This infographic provides a background of the SHS program, the profile of students and schools, the willingness of firms to hire them, and the types of jobs available to them. It also looks at some of the issues affecting the labor market outcomes of SHS graduates and provides recommendations that may improve the implementation of K-12 and the likelihood of achieving its employment and entrepreneurship objective.

This infographic is based on PIDS Discussion Paper Series No. 2018-49 titled Senior High School and the Labor Market: Perspectives of Grade 12 Students and Human Resource Officers written by Aniceto Orbeta Jr., Marites Lagarto, Ma. Kristina Ortiz, Danica Aisa Ortiz, and Maropsil Potestad. The authors are PIDS senior research fellow, consultant, supervising research specialist, research specialist, and research analyst, respectively. 

To view in actual size, visit the PIDS website or the PIDS Facebook page.

FACT FRIDAY

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

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