Company type | public interest organization |
---|---|
Industry | research and advocacy |
Founded | 1996 |
Headquarters | West Trade Center, West Avenue, Quezon City 1104 |
Area served | Philippines |
Key people | See Women and Men of AER |
Products | policy analysis, publications |
Website | http://www.aer.ph "...General principles are not enough to deal with complex issues that require nuanced analysis. The gains of the reform struggle will ultimately be measured in concrete terms: the specific features, the context, the enabling conditions, the timing, the phasing, and the sequencing..." - From Chartering New Paths, AER's mission statement |
Action for Economic Reforms (AER) is a Philippine non-government organization engaged in research and advocacy. [1] It was founded in 1996 by a group of progressive scholars and activists as an "independent, reform-oriented and activist policy group".
AER works on macroeconomic issues, with an emphasis on fiscal policy and tax policy and administration, [2] and looks at their impact on equity, poverty reduction, and sustainability. As part of its macroeconomic intervention, AER also addresses exchange rate, monetary, and trade issues.
AER likewise concerns itself with creating the conditions for long-term growth. In this context, AER gives attention to the role of institutions. It has pursued advocacy on building state capacity that will enable markets and correct both market and government failures. A key aspect of the work on institutions is the promotion of transparency, especially pushing for a Freedom of Information law in the Philippines. [3]
AER also forges strong links with civil society organizations, legislators and other government officials, as well as technocrats and academics towards building alliances to secure progressive reforms.
While Philippine concerns occupy an extensive part of its programs, AER is also known for its regional and global work on crucial development issues like financing for development, the Millennium Development Goals, international trade, capital flows, regional integration as well as government transparency and disclosure. [4] Among official multilateral institutions that AER has worked with are United Nations agencies, the World Bank, the International Monetary Fund, the Asian Development Bank, and the European Union. [5] Among AER's international NGO partners are Christian Aid, Oxfam, Focus on the Global South, the Global Transparency Initiative, the International Development Economic Associates (IDEAs) and the Tax Justice Network. It has also collaborated with economists including Nobel Prize recipient Joseph Stiglitz [1] and UN Assistant Secretary-General for Economic Development Jomo K. Sundaram. [6]
AER writes weekly columns in two major Philippine business dailies. Yellow Pad is published in the BusinessWorld and takes on political, social and economic policy issues affecting the Philippines. Manuel Buencamino writes political commentaries for AER in the Business Mirror column, called Dispatches from the Enchanted Kingdom. These articles, policy papers, and statements can be found on the AER website as well as in the Socioeconomic Research Portal of the Philippines. AER has publications such as The State and the Market : Essays on a Socially Oriented Philippine Economy [7] and The Philippine Electric Power Industry Reform. [8]
The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in 6 ADB Avenue, Mandaluyong, Metro Manila 1550, Philippines. The bank also maintains 31 field offices around the world to promote social and economic development in Asia. The bank admits the members of the UN Economic and Social Commission for Asia and the Pacific, and non-regional developed countries. Starting with 31 members at its establishment, ADB now has 68 members.
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output/GDP and national income, unemployment, price indices and inflation, consumption, saving, investment, energy, international trade, and international finance.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2024, the Philippine economy is estimated to be at ₱26.55 trillion, making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
The economy of Togo has struggled greatly. The International Monetary Fund (IMF) ranks it as the tenth poorest country in the world, with development undercut by political instability, lowered commodity prices, and external debts. While industry and services play a role, the economy is dependent on subsistence agriculture, with industrialization and regional banking suffering major setbacks.
The economy of governments covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labour market, national ownership, and many other areas of government interventions into the economy.
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic action that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability. Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies.
The Bangko Sentral ng Pilipinas is the central bank of the Philippines. It was established on January 3, 1949, and then re-established on July 3, 1993 pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993 as amended by Republic Act 11211 or the New Central Bank Act of 2019. The principal author was Senator Franklin Drilon. It was signed by President Rodrigo Duterte.
Structural adjustment programs (SAPs) consist of loans provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experience economic crises. Their stated purpose is to adjust the country's economic structure, improve international competitiveness, and restore its balance of payments.
John Brian Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University, and the George P. Shultz Senior Fellow in Economics at Stanford University's Hoover Institution.
Articles in economics journals are usually classified according to JEL classification codes, which derive from the Journal of Economic Literature. The JEL is published quarterly by the American Economic Association (AEA) and contains survey articles and information on recently published books and dissertations. The AEA maintains EconLit, a searchable data base of citations for articles, books, reviews, dissertations, and working papers classified by JEL codes for the years from 1969. A recent addition to EconLit is indexing of economics journal articles from 1886 to 1968 parallel to the print series Index of Economic Articles.
Rafael Carlos Baltazar Buenaventura was a prominent banker in the Philippines who served as the second Governor of the Bangko Sentral ng Pilipinas ; he served under two Philippine presidents during one of the most tumultuous political transitions in the country's history.
Cesar Antonio Velasquez Purisima is a Filipino accountant and financial expert. He was the Secretary of Finance of the Republic of the Philippines under the administration of President Benigno S. Aquino III. He also served as the chair of the Cabinet Economic Development Cluster and member of the Monetary Board of the Bangko Sentral ng Pilipinas. Purisima is a multi-awarded finance minister, recognized 7 times in 6 consecutive years by various international institutions for turning the Philippine economy around and restoring investor confidence.
The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy.
The IBON Foundation is a non-profit research, education and information-development institution with programs in research, education and advocacy based in the Philippines. It provides socioeconomic research and analysis on people's issues to various sectors. It aims to contribute to people's empowerment through education and advocacy support. The foundation is also engaged in international solidarity work.
Takehiko Nakao is a Japanese former civil servant who served as the ninth president of the Asian Development Bank between 2013 and early 2020. He is Adviser, Sumitomo Corporation and Chairman, Center for International Economy and Strategy. He is also a board member (external) of the Daiichi Life Insurance Ltd. He teaches international economic policies and development economics as visiting professor at the Graduate School of Public Policy at Tokyo University and National Graduate Institute for Policy Studies (Tokyo).
Tajikistan gained independence in 1991 after the collapse of the Soviet Union, and began its transition from socialist economics to a more liberal, market economy. Initially, efforts to effectively liberalise education to reflect the new economic order were hampered by the civil war that raged between 1991 and 1997, and the resulting economic collapse. Tajikistan has since received aid from the International Monetary Fund (IMF), the World Bank (WB), and the Asian Development Bank (ADB), adopting a number of educational reforms with mixed results.
Carlos "Sonny" García Domínguez III is a distinguished Filipino businessman who was appointed as Philippine Cabinet Secretary thrice: as Minister of Natural Resources (1986-1987), Secretary of Agriculture (1987-1989), and as Secretary of Finance (2016-2022).
Cielo Diaz Magno-Gatmaytan is a Filipino academic who is a former Undersecretary of the Department of Finance. She served as the Undersecretary for the Fiscal Policy and Monitoring Group from August 2022 to September 4, 2023. She also served as the Chairperson of the Philippine Extractive Industries Transparency Initiative, the Fiscal Incentives Review Board (FIRB) Technical Committee, and the Inter-Agency Investment Promotion Coordination Committee (IIPCC) Technical Committee. She resigned from her post after she criticized Executive Order No. 39 of President Ferdinand Marcos Jr. which imposed the price ceiling on rice prices. She posted the basic graph of supply and demand curve on her Facebook page with the line showing how the price cap can lead to rice supply shortages and may negatively affect farmers and consumers. Her post earned the ire of Malacanang with Executive Secretary Lucas Bersamin issuing a statement saying that "she clearly does not support the administration and its programs for nation-building." Her controversial post earned her the reputation "for speaking her mind" especially on careless policies that may significantly affect the people's welfare.
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: CS1 maint: archived copy as title (link) People’ right to know upheld in Freedom of Information bill, Philippine Daily Inquirer