Philippines: Selected Issues

November 10, 2017

Preview Citation

Format: Chicago

Philippines: Selected Issues, (USA: International Monetary Fund, 2017) accessed September 23, 2024

Summary

This Selected Issues paper assesses potential spillover effects to the Philippines from US policy shifts and lower growth in China. The US fiscal expansion affects the Philippine economy through the interest rate and the trade channels. The net spillover impact on Philippine GDP is negative in the short term. Compared with the productive case, in which the net output impact is positive, the US nominal policy rate rises by less, but faster normalization of the US term premium leads to higher real interest rates. On the other hand, the gain from trade is smaller owing to the weaker domestic demand expansion in the United States.

Subject: Corporate income tax, Fiscal policy, Fiscal rules, National accounts, Private investment, Public debt, Taxes

Keywords: Africa, Anchor simulation, Asia and Pacific, Center, Corporate income tax, CR, Debt anchor, Equity capital, Firm, Firm level, Fiscal rules, Global, Government, Investment, ISCR, Nonfinancial firm, Philippines, Private investment, Regression variable, Southeast Asia

Publication Details

Pages:

43
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/335
Stock No:

1PHLEA2017002
ISBN:

9781484326862
ISSN:

1934-7685

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