Raul Fabella

Last updated
Raul V. Fabella
Raul Fabella NAST.jpg
Official portrait, National Academy of Science and Technology
Born (1949-04-12) April 12, 1949 (age 75)
Bacolod, Negros Occidental, Philippines
Nationality Filipino
OccupationEconomist
Academic career
Alma materSeminario Mayor-Recoletos (AB)
University of the Philippines Diliman (MA)
Yale University (PhD)
Awards National Scientist of the Philippines

Raul V. Fabella (born 12 April 1949, Bacolod, Negros Occidental, Philippines) is a Filipino academic, economist and National Scientist of the Philippines. [1]

Contents

Biography

He was born to Estelito Fabella and Magdalena Villaseñor in Bacolod, Negros Occidental. Raul is the grandnephew of Gabriel Fabella, father of June 12th. Raul's grandfather Adriano was Gabriel's brother.

Fabella was educated at the Seminario Mayor-Recoletos (now the Casiciaco Recoletos Seminary, Ph.B. 1970); the University of the Philippines School of Economics at UP Diliman (M.A. 1975). He obtained his Ph.D. from the Department of Economics of Yale University in 1982 with the dissertation "Economies of Scale in the Household Production Model and Intra-Family Allocation of Resources". [2] His entire academic career has been spent with the faculty of the University of the Philippines School of Economics (UPSE), which he served as dean from 1998 to 2007.

Fabella has written articles in both theoretical and applied fields: political economy and rent-seeking; the theory of teams; regulation; international economics; and mathematical economics. Notable concepts associated with him are the "Olson ratio" [3] in rent-seeking, egalitarian Nash bargaining solutions, [4] and the debt-adjusted real effective exchange rate. [5]

Fabella was elected to the National Academy of Science and Technology (NAST) in 1995. Upon endorsement by NAST, he was awarded the title of National Scientist by President Benigno Aquino III on 27 July 2011. The National Scientist title is the highest recognition given by the Philippine Government to a Filipino for his or her outstanding contributions to science and technology.

Economic views

In public-policy debates he has been a prominent advocate of a policy of currency undervaluation as a tool of development.

Maharlika Investment Fund

Fabella, sending a critique to the Philippine Daily Inquirer, criticized the Maharlika Investment Fund bill claiming that it is a "moral hazard arising from unnecessary state intervention and the unjustified economic backdrop". In his critique, "Beyond Repair: The Maharlika Wealth Fund", Fabella stated that the financial resources, excluding the Social Security System and Government Service Insurance System, for the House Bill will not solve the "fundamental problems". Fabella argues that the fund's assumption that the primary issue in Philippine infrastructure is financing is incorrect. He believes that the core problem lies elsewhere, possibly in governance, planning, or execution. [6]

The Comprehensive Agrarian Reform Program (CARP)

In a Second International Conference on Agricultural and Rural Development in Southeast Asia (ARD2014) at the Shangri-La Hotel, Makati City, Fabella reported that the Comprehensive Agrarian Reform Program (CARP) met the "opposite" of its goals. In his report, the production of coconut and sugar has significantly decreased in 2011. [lower-alpha 1] On the other hand, there has been improvement in the productivity of corn and rice. Despite land reform efforts, poverty levels remain high among farmers who benefited from the program. Fabella blamed the "sad results" from the illegalization of the market for land assets and the five-hectare land ownership ceiling. [7]

1987 Philippine Constitution

In February 2024, during a roundtable forum at the House of Representatives, Fabella stated that amending the 1987 Philippine Constitution would enhance the country's economic performance. [8] He expressed his dissatisfaction with the constitution. One particular provision he points out is Section 11, Article 12, which mandates at least 60% Filipino ownership in Philippine businesses. This, according to him, limits foreign investment to a maximum of 40% equity, making foreign investors minority shareholders. [9]

Notes

  1. ↑ Coconut production fell by 40%, while sugar production dropped by 8% (2011). [7]

Related Research Articles

<span class="mw-page-title-main">Negros Occidental</span> Province in the Philippines

Negros Occidental, officially the Province of Negros Occidental, is a province in the Philippines located in the Negros Island Region. Its capital is the city of Bacolod, of which it is geographically situated and grouped under by the Philippine Statistics Authority, but remains politically independent from the provincial government and also one of the two regional centers in Negros Island Region. It occupies the northwestern half of the large island of Negros, and borders Negros Oriental, which comprises the southeastern half. Known as the "Sugarbowl of the Philippines", Negros Occidental produces more than half the nation's sugar output.

<span class="mw-page-title-main">Bacolod</span> Highly-urbanized city and capital of Negros Occidental, Philippines

Bacolod, officially the City of Bacolod, is a 1st class highly urbanized city in the Negros Island Region in the Philippines. With a total of 600,783 inhabitants as of the 2020 census, it is the most populous city in the Negros Island Region and the second most populous city in the entire Visayas after Cebu City.

<span class="mw-page-title-main">Talisay, Negros Occidental</span> Component city in Negros Occidental, Philippines

Talisay, officially the City of Talisay, is a fourth class component city in the province of Negros Occidental, Philippines. According to the 2020 census, it has a population of 108,909 people.

<span class="mw-page-title-main">Order of Augustinian Recollects</span> Mendicant Catholic religious order of friars and nuns

The Order of Augustinian Recollects (OAR) is a mendicant Catholic religious order of friars and nuns. It is a reformist offshoot from the Augustinian hermit friars and follows the same Rule of St. Augustine. They have also been known as the "Discalced Augustinians".

<span class="mw-page-title-main">Papa Isio</span> Philippine revolutionary (1846–1911)

Dionisio Magbuelas, Dionisio Seguela or Dionisio Papa y Barlucia, more widely known as Papa Isio, was the leader of a group of babaylanes who were, as conjectured by Modesto P. Sa-onoy, recruited from the remnants of the followers of Dios Buhawi upon the dissolution of his group under the poor leadership of Camartin de la Cruz during the years prior to the onset of the Philippine Revolution.

<span class="mw-page-title-main">Science and technology in the Philippines</span> Status of Science and technology in the Philippines

Science and technology in the Philippines describes scientific and technological progress made by the Philippines and analyses related policy issues. The main agency responsible for managing science and technology (S&T) is the Department of Science and Technology (DOST). There are also sectoral councils for Forestry, Agriculture and Aquaculture, the Metal Industry, Nuclear Research, Food and Nutrition, Health, Meteorology, Volcanology and Seismology.

<span class="mw-page-title-main">University of the Philippines School of Economics</span>

The University of the Philippines School of Economics is a degree-granting unit of the University of the Philippines Diliman (U.P.), where it occupies the buildings of the Philippine Center for Economic Development (PCED). Established in 1965, the School of Economics was chosen as the first and only CHED Center for Excellence in Economics in the Philippines in 1999.

The Negrenses are the native cultural group of the Philippine provinces of Negros Occidental, Negros Oriental and Siquijor.

The Comprehensive Agrarian Reform Program, more commonly known as CARP, is an agrarian reform law of the Philippines whose legal basis is the Republic Act No. 6657, otherwise known as the Comprehensive Agrarian Reform Law (CARL), signed under the administration of President Cory Aquino. It is the redistribution of private and public agricultural lands to help the beneficiaries survive as small independent farmers, regardless of the “tenurial” arrangement. Its goals are to provide landowners equality in terms of income and opportunities, empower land owner beneficiaries to have equitable land ownership, enhance agricultural production and productivity, provide employment to more agricultural workers, and put an end to conflicts regarding land ownership.

<span class="mw-page-title-main">Presidency of Fidel V. Ramos</span> Presidency of the Philippines, 1992–1998

The presidency of Fidel V. Ramos, also known as the Ramos administration spanned for six years from June 30, 1992, to June 30, 1998. Ramos is the first Protestant president of the country, and the first Christian Democrat to be elected, being the founder of Lakas-CMD. He was included as one of the most influential leaders and the unofficial spokesman of liberal democracy in Asia.

<span class="mw-page-title-main">Metro Bacolod</span> Metropolitan area in Negros Island Region, Philippines

Metro Bacolod is the 8th-most populous and the 6th-most densely populated metropolitan area out of the 12 metropolitan areas in the Philippines. This metropolitan area as defined by the National Economic and Development Authority (NEDA) has an estimated population of 840,170 inhabitants as of the 2020 official census by the Philippine Statistics Authority.

Mark Yee is a Filipino professional basketball player for the Abra Weavers of the Maharlika Pilipinas Basketball League (MPBL).

<span class="mw-page-title-main">Augustinian Recollect Province of Saint Ezequiél Moreno</span>

The Augustinian Recollect Province of Saint Ezequiél Moreno is a division of the Order of Augustinian Recollects that has jurisdiction over the Philippines, Taiwan and Sierra Leone. It officially separated from the Province of Saint Nicholas de Tolentine on 28 November 1998. Today, the Provincialate House is located at the San Nicolas De Tolentino Parish Church on Neptune Street, Congressional Subdivision, Project 6, Quezon City.

Land reform in the Philippines has long been a contentious issue rooted in the Spanish colonial period. Some efforts began during the American colonial period with renewed efforts during the Commonwealth, following independence, during martial law, and especially following the People Power Revolution in 1986. The current law, the Comprehensive Agrarian Reform Program, was passed following the revolution and extended until 2014.

<span class="mw-page-title-main">National Academy of Science and Technology</span> Recognition and scientific advisory body of the Philippines

The National Academy of Science and Technology is the highest recognition and scientific advisory body of the Philippines under the Department of Science and Technology. It was created through Presidential Decree 1003-A issued by President Ferdinand E. Marcos in 1976 to honor and recognize Filipino scientists who made worthy contributions in the advancement of science and technology in the country. It also recommends individuals to be conferred the Order of National Scientist upon approval of the President of the Philippines.

Evelio Ramos Leonardia, sometimes known as Bing Leonardia, is a Filipino realtor, lawyer, and politician who was the 36th Mayor of Bacolod. He served as Vice Mayor of the City of Bacolod from 1992 to 1995 under Alfredo Montelibano and represented the Lone District of Bacolod from 2013 to 2016.

Alfredo Abelardo "Albee" Bantug Benitez is a Filipino-American businessman, politician and former athlete serving as the mayor of Bacolod since 2022. He served three consecutive terms as the representative of Negros Occidental's 3rd district from 2010 to 2019, and was one of the richest congressmen in the Philippines.

Mark Jayven "Mac" Tallo is a Filipino professional basketball player for the Davao Occidental Tigers of the Maharlika Pilipinas Basketball League (MPBL).

<span class="mw-page-title-main">Dennis Mapa</span> Filipino economist and statistician

Claire Dennis Sioson Mapa is a Filipino economist and statistician. He is the National Statistician and Civil Registrar General (NSCRG) of the Philippine Statistics Authority with a rank of Undersecretary as appointed by President Rodrigo Duterte. He succeeds Lisa Grace Bersales whose tenure ended on 22 April 2019.

References

  1. ↑ "Academician Raul V. Fabella is National Scientist". National Academy of Science and Technology. Archived from the original on July 14, 2014. Retrieved November 22, 2013.
  2. ↑ Fabella, Raul V. Economies of Scale in the Household Production Model and Intra-Family Allocation of Resources (Thesis).
  3. ↑ Fabella, Raul (1996). "The Olson ratio and indirectly endogenous rent". Public Choice. 89 (3–4): 325–337. doi:10.1007/bf00159362. S2CID   153781691.
  4. ↑ Fabella, Raul (1991). "Rawlsian Nash solutions". Theory and Decision. 30 (2): 113–126. doi:10.1007/bf00134119. S2CID   153436396.
  5. ↑ Fabella, Raul (1998). "The debt-adjusted real exchange rate". Journal of International Money and Finance. 15 (3): 475–484. doi:10.1016/0261-5606(96)00015-0.
  6. ↑ Dumlao-Abadilla, Doris (2022-12-10). "MIF 'beyond repair,' says nat'l scientist in economics". INQUIRER.net. Retrieved 2024-08-14.
  7. 1 2 Fernandez, Rudy A. "CARP achieves opposite of its goal – Nat'l Scientist". Philstar.com. Retrieved 2024-08-14. 'CARP and CARPER (Comprehensive Agrarian Reform Program Extension and Reform) have created a new class of people: the landed poor,' stated Dr. Raul V. Fabella, a professor at the University of the Philippines (UP) School of Economics.
  8. ↑ "Economic Cha-cha vital to improve PH investment climate, says national scientist". Manila Bulletin. Retrieved 2024-08-14.
  9. ↑ Leon, Dwight de (2023-01-27). "Where economists, analysts invited by the House stand on charter change bills". RAPPLER. Retrieved 2024-08-14. 'It restricts foreign ownership to 40% capital, thus minority interest. The new PSA [Public Service Act] law has reduced the compass of this restriction, but I think we still need to move further than the law,' he [Fabella] said.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.