Political Governance, Economic Policy Reforms, and Aid

Document technical information

Format ppt
Size 49.7 kB
First found May 22, 2018

Document content analysis

Category Also themed
Language
English
Type
not defined
Concepts
no text concepts found

Persons

Ridley Pearson
Ridley Pearson

wikipedia, lookup

Organizations

Places

Transcript

Political Governance,
Economic Policy Reforms, and
Aid Effectiveness: The Case of
the Philippines/Lessons from
the Ramos Administration
By Dante B. Canlas
Professor
School of Economics
University of the Philippines
Outline
•
•
•
•
•
•
Introduction
Political Governance
Economic Policy Reforms
Aid Effectiveness
Outcomes of the Reform Process
NEDA’s Role
Introduction
• Tools for creating opportunities and
expanding human choices under Ramos
administration
– Political governance
– Economic policy reforms
– Aid effectiveness
Political Governance: Challenges
and Responses
• Challenges faced by the Ramos administration
– Political instability
– Internal and external insecurity
– Judicial activism in economic policymaking
• Responses
–
–
–
–
–
Coalition building in Congress
Amnesty and peace talks with rebels
Judicial appointments and reforms
Legislative-Executive Development Advisory Council
Multisectoral People’s Summit
Economic Policy Reforms
• Setting the stage: overcoming a power
shortage
• Macroeconomic stabilization
• Long-run industrial restructuring
• Social reform agenda
Overcoming a Power Shortage
• Electric Power Crisis Act: 5 new power
plants
• Amended BOT Law: 15 BOT power plants
• Outcomes
– 770 MW of new capacity in Luzon
– Brownouts gone by December ‘93
Macroeconomic Stabilization
• Responsible deficit reduction
– Spending cuts
– Tax enhancers
• Excise tax on cigarettes
• Comprehensive Tax Reform Act of 1997
• Privatization
• Outcomes
– Increased tax effort
– Consolidated public sector surplus in 1996
Macroeconomic Stabilization
• Monetary and exchange-rate policies
– Independent central bank
– Inflation targeting
– Flexible exchange-rate system
• Outcomes
– Low inflation rate
– Sustained real GDP growth
Long-term Industrial Restructuring
•
•
•
•
•
Industrial policy
Deregulation and privatization
Import liberalization and tariff reduction
WTO accession
Financial-market liberalization
Industrial Policy
• Raise agricultural productivity
– Expand access to modern seeds
– Increase investments in rural infrastructure
• Raise investments in industry and services
– Enact Land Lease Law
– Ratify MIGA ratified
– Trim Negative Lists in Foreign Investments
Act
Deregulation and Privatization
• Mandate interconnection among telecom
companies
• Oil Industry deregulation
• Privatize Petron, PNB, MWSS, etc.
• File bill on retail-trade liberalization
Import Liberalization and Tariff
Reduction: Getting Global
• Executive Order 470 on tariff reduction
• Removal of quantitative restrictions on
imports
• Accession to the WTO, AFTA-CEPT, and
APEC
Financial-Market Liberalization
• Liberalize bank branching
• Allow entry of 10 new foreign banks
• Allow entry of 10 new insurance
companies
• Merging of two bourses (Makati and
Manila)
Social Reform Agenda
• Embodies anti-poverty and equitable
growth program
• Affirmative action for disadvantaged
groups
• Social Reform Council: precursor to
National Anti-Poverty Commission (NAPC)
Aid Effectiveness
• Set up Presidential Task Force on Rightof-Way Acquisition
• Protect budget cover of ODA-funded
projects
• Set up Flagship Committee
• Start Credible ODA Review Process
• Raise utilization rate and absorptive
capacity
Outcomes of the Reform Process
•
•
•
•
Reliance on markets and price signals
Sustained real GDP growth
Single-digit inflation rate
Resiliency amid 1997 Asian financial crisis
NEDA’s Role
• Complete staff work through NEDA Board
Committees
– Investment Coordination Committee (ICC)
– Development Budget Coordination Committee
(DBCC)
– Infrastructure Committee (Infracom)
– Social Development Committee (SDC)
NEDA’s Role
• Project monitoring
• ODA programming and monitoring
• Secretariat to LEDAC
×

Report this document