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52nd Annual Meeting

52nd Annual Meeting

Theme: “Forging Ahead: The Philippines as a Developed Economy by 2050”

Sen. Sonny Angara delivered the keynote address which focused on the needed reforms to steer the economy towards sustained and inclusive long-run growth.

The first plenary session was led by Socio-economic Planning Secretary Arsenio Balisacan who talked about the remaining tasks and needed reforms to sustain that the country’s economic growth trajectory. Sec. Balisacan was joined in the session by Rogier van den Brink, Lead Economist of the World Bank East Asia and Pacific, and Shanaka Jayanath Peiris, the International Monetary Fund’s Resident Representative for the Philippines.

The second plenary focused on reforms in another important policy area to secure the needed investments for long-run economic growth: competition. House Speaker Feliciano Belmonte and EU Ambassador Guy Ledoux headlined this plenary session.

The closing plenary tackled an equally important aspect of economic growth: equity. Professors Raul Fabella and James Roumasett led the discussion on equity, in the light of recent work by Thomas Picketty.


    9:00-9:40 AM


    Venue: Grand Ballroom (2nd floor)

    Master of Ceremonies

    Dr. Tereso Tullao Jr.

    Professor, De La Salle University

    Welcome Remarks

    Dr. Stella Luz Quimbo

    President, Philippine Economic Society

    Introduction of the

    Dr. Victor Abola

    Keynote Speaker Vice President, Philippine Economic Society

    Keynote Speech

    Sen.Juan Edgardo Angara

    Chair, Ways and Means Committee Senate of the Philippines

    10:00-11:30 AM


    Venue: Grand Ballroom (2nd floor)


    Mr. Coco Alcuaz

    Running the Last Mile

    Sec. Arsenio Balisacan

    Director General, National Economic and Development Authority

    Looking Ahead Beyond 2015

    Dr. Rogier van den Brink

    Lead Economist, Poverty Reduction and Economic Management Department (PREM), East Asia and Pacific Region, World Bank

    The Philippines Economic Outlook and Challenges

    Mr. Shanaka Jayanath Peiris

    Resident Representative, International Monetary Fund



    Venue: Grand Ballroom (2nd floor)


    Dr. Peter Lee U

    Professor, University of Asia and the Pacific

    Fair Competition, Transparency and Procurement

    H.E. Guy Ledoux

    Ambassador of the European Union to the Philippines

    Competition Policy: A Critical Reform for the Philippine Economy

    Hon. Feliciano Belmonte Jr.

    Speaker of the House of Representatives

    12:30-1:30 LUNCH (Presentation of Proposed Amendments to the PES Bylaws and Articles of Incorporation; and PES Elections)
    1:30- 4:50



    Mr. Siegfried Herzog

    Regional Director Friedrich Naumann Foundation for Freedom, South Asia

    Introduction of the Closing Plenary Speaker

    Dr. Majah-Leah Ravago

    Secretary, Philippine Economic Society

    Piketty Inequality, Meta Market Failures and the Role of the State

    Dr. Raul Fabella

    National Scientist and Professor, UP School of Economics

    NitPiketting: From Puns to Public Economics

    Dr. James Roumasset

    Professor, University of Hawaii and Visiting Professor, UP School of Economics 



    Parallel Session A

    1:30-3:00 PM

    PANEL A1



    • Session Chair: Paolo Francisco, Asian Institute of Management
    • Venue: Grand Ballroom (2nd floor)
    Meeting the Challenge of Corporate Entrepreneurship: The Entrepreneurial Employee Activities among Micro, Small, and Medium Enterprises in the Philippines 
    Emilina Sarreal 
    De La Salle University


    Toward Competitive and Innovative ASEAN SMEs: Philippine SME Policy Index 2012 Rafaelita Aldaba Department of Trade and Industry 

    Fernando Aldaba 
    Ateneo de Manila University

    Can SMEs Survive Climate Change? Eva Marie Arts and Crafts versus Typhoon Yolanda 

    Ser Percival Peña-Reyes
    Asian Institute of Management Policy Center

    PANEL A2



    • Session Chair: Sarah Daway, University of the Philippines Diliman
    • Venue: Dasmarinas Room (2nd Floor)
    The Political Economy of Policy Reforms in the Electric Power Industry
    Keith Cabaluna Detros 
    Philippine Institute of Development Studies


    The Economic of Renewable Energy for Missionary Electrification in the Philippines
    Pia Medrano
    UP School of Economics

    Eastern Visayas after Yolanda: Evidence from Household Survey 
    Majah-Leah V. Ravago, Dennis S. Mapa, and Associates 
    UP School of Economics and UP School of Statistics

    PANEL A3



    • Session Chair: Leonardo Lanzona Jr., Ateneo de Manila University
    • Venue: Bel-Air Room (2nd floor)
    The Joint Estimation of Filipino Child’s Participation in Schooling and Employment and New Stylized Facts on the Philippine Child Labor Situation
    Cesar Rufino 
    De La Salle University


    Migration, Remittances, and Poverty: Evidence from the Community-Based Monitoring System (CBMS) Data in the Philippines
    Alellie B. Sobreviñas 
    University of Antwerp

    Labor Regulations and Their Effect on Employment Creation
    Alejandra Cox Edwards
    California State University – Long Beach

    The Impact of Minimum Wages on Labor-intensive Manufacturing Industries
    Leonardo Lanzona Jr. 
    Ateneo de Manila University

    PANEL A4



    • Session Chair: Roehlano Briones, Philippine Institute of Development Studies
    • Venue: North Forbes (2nd floor)
    An Alternative Framework for Sectoral Contributions to GDP Level and Growth: An Application to the Philippines
    Jesus Dumagan
    De La Salle University


    Estimating the Effects of Transaction Cost on Rice Farmer’s Adoption of Certified Seed Using Cragg’s Double Hurdle Alternative to Tobit
    Agham Cuevas
    University of the Philippines-Los Baños

    A Study on the Validity of the Tourism-Led Growth Hypothesis in the Philippines
    Francine Fernandez
    Ateneo de Manila University

    PANEL A5



    • Session Chair: Stella Quimbo, UP School of Economics
    • Venue: South Forbes (2nd Floor)
    Analysis of the Near-Poor Challenge and Strategy Development Ideas
    Vicente Paqueo
    Philippine Institute for Development Studies


    Externalities from the Conditional Cash Transfer: Evidence from Bataan, Philippines
    Mitzie Irene Conchada and Marites Tiongco 
    De La Salle University

    Income Distribution in the Philippines- Trends and Policy Reforms
    Gil Beltran 
    Department of Finance

    PANEL A6



    • Session Chair: Dennis Mapa, UP School of Statistics
    • Venue: San Lorenzo (2nd Floor)
    Rice, Job, Misery Hunger Incidence: An Econometric Analysis
    Dennis Mapa 
    UP School of Statistics


    Kristelle M. Castillo and Krizia DR. Francisco

    Counting Happiness from the Individual Level to the Group Level 
    Edsel Beja Jr. 
    Ateneo de Manila University

    Exchange Rate and Net Foreign Assets Dynamics in an Open Economy DSGE Model with Remittances 
    Ruperto Majuca and Lawrence Dacuycuy 
    De La Salle University

    An Open Economy DSGE Model with Remittances and International Productivity Differences: The Dutch Disease and the Harrod-Balassa-Samuelson Effects in the Philippine Economy 
    Ruperto Majuca, Neriza Casas and Jesson Pagaduan 
    De La Salle University

    PANEL A7



    • Session Chair: Marites Vitug, Rappler
    • Venue: Legazpi Room (Groundfloor)
    Development Opportunities of Mindanao Regions in a Post-Comprehensive Agreement on the Bangsamoro (CAB) Scenario
    Ma. Lourdes Lim


    NEDA Region XIPanel Discussions
    Luisito Montalbo
    Office of the Presidential Adviser on the Peace Process

    Amina Rasul-Bernardo
    Philippine Center for Islam and Democracy

    Steven Rood
    The Asia Foundation

    Parallel Session B

    3:20-4:50 PM

    Panel B1


    MINING AND DEVELOPMENT (Bantay Kita Panel)

    • Session Chair: Teresa Habitan,Department of Finance
    • Venue: Grand Ballroom (2nd Floor)
    Philippine Mining Industries: Barbarian Relic of the Past?
    Armando Armas Jr.


     Overview of Coal Mining in the Philippines
    Anton Ragos
    UP School of Economics


     Mining Taxation and Investment
    Ramon Clarete and Karl Adriano 
    UP School of Economics


     Fiscal Policy in the Large Scale Mining Industry
    Christian Monsod 
    Constitutional Commission

    Panel B2



    • Session Chair: Joseph Capuno, UP School of Economics
    • Venue: Dasmariñas Room (2nd Floor)
    Political Clientelism and Underdevelopment in Muslim Mindanao
    Acram Latiph 
    Mindanao State University


     Institutions and Economic Growth in the Philippines: Evidence from International Databases
    Lino Briguglio 
    University of Malta


     Pork Barrel, Poverty and Inequality
    Jan Carlo Punongbayan 
    National Economic and Development Authority


     Why has Latin America Sped Up Ahead of the Philippines in Development Outcomes?
    Rosa Alonso Terme 
    UP School of Economics


     Do Middle Income Class Filipinos have Middle Class Values?
    Joseph Capuno 
    UP School of Economics

    Panel B3



    • Session Chair: Alvin Ang, Ateneo de Manila University
    • Venue: Bel-Air Room (2nd Floor)
    Credit Market Constraints and the Effectiveness of Monetary Policy
    Joselito Basilio 
    Bangko Sentral ng Pilipinas


     Threshold Bank-run Equilibrium in Dynamic Games
    Romeo Balanquit 
    UP School of Economics


     Migration and Inflation Dynamics: Some Evidence from the Philippines
    Faith Christian Cacnio 
    Bangko Sentral ng Pilipinas

    Panel B4



    • Session Chair: Larry Ilag, USAID Science, Technology, Research and Innovation For Development (STRIDE)
    • Venue: North Forbes (2nd Floor)
    Science, Technology, Research and Innovation for Driving Inclusive Economic Growth
    David Hall 
    USAID Science, Technology, Research and Innovation For Development (STRIDE)


    Trade Reforms, Competition, and Innovation in the Philippines
    Rafaelita Aldaba 
    Philippine Institute for Development Studies

     Village-Scale Biorefineries: A New Paradigm for Bioethanol Production in the Philippines
    S.C. Agrupis, M. Lucas, N. Mateo, F. Abenas 
    Mariano Marcos State University


     Ex Ante Evaluation of Investment in Research and Development for Major Food Commodities: Case Study of the Philippines Using the Welfare Impact Simulator for Evaluating Research (WISER) Model
    Roehlano Briones
    Philippine Institute of Development Studies

    Panel B5



    • Session Chair: Anthony Abad, Trade Advisory Group
    • Venue: South Forbes (2nd Floor)
    ASEAN Diversity, Business Cycle Synchronization, and Monetary Coordination: Insights from a VAR/VECM Model of Three ASEAN Member States
    Ruperto Majuca and Neriza Casas 
    De La Salle University


     Variations in Political Institutions and Gross Domestic Product: A Cross-Country Examination on ASEAN Member States
    Ina Judith Calabio 
    University of the Philippines-Los Baños


     An Analysis of the Evolving ASEAN-China Trade Linkages
    Kevin Chua


     Shandong University Center for Economic Research
    Ronald Mendoza and Monica Melchor 
    Asian Institute of Management

    Panel B6



    • Session Chair: Victor Abola, University of Asia and the Pacific
    • Venue: San Lorenzo (2nd Floor)
    Comparative Efficiency between Stock Market and Forex Market in the Philippines: A Multifractal Analysis
    Harvey Niere 
    University of the Philippines-Mindanao


     A Study of the Repayment Performance of the Microfinance Borrower Households of the Ahon sa Hirap, Inc. (ASHI)
    Jaime Acevedo 
    Ateneo de Manila University


     Impact of Reserves Accumulation on Inflation, Exports, Imports and Employment: The Philippine Case
    Nikkin Beronilla 
    National Anti-Poverty Commission

    Panel B7



    • Session Chair: Roby Alampay, BusinessWorld and Interkasyon
    • Venue: Legaspi Room (Ground Floor)
    Main Presentation
    Toby Melissa Monsod 
    UP School of Economics Panel Discussion


     Ro-Ann A. Bacal

     National Economic and Development Authority Region VI
    Rafael Lopa


     Philippine Business for Social Progress
    Cora Alvero


     Office of the Provincial Planning and Development. Province of Leyte
    Jude Esguerra 
    National Anti-Poverty Commission

    Panel B8



    • Session Chair: Catherine Mercader, Junior Philippine Economic Society
    • Venue: One Ayala (3rd Floor)
    A Jobless Growth: Why is Unemployment Still High in the Philippines? A Regression Analysis on the Effects of Education, Inflation, Consumption, and GDP Growth on Unemployment
    Anne Therese Conolly 
    De La Salle University


    Impact of Family Altruism on Corporate Diversification: Does Entrenching on the Legacy Create Firm Value?

    Ailyn Shi, Alexis Georgette Tan and Kahlil Marion Carmona 
    De La Salle University

    The Relationship of Transport Infrastructure and Foreign Direct Investments in the Philippines

    Jayson Yu 
    Ateneo de Manila University

    An Exploration of the Impact of Information and Communications Technology (ICT) on Labor Productivity in the Philippine Manufacturing Sector

    Kryslette Bunyi and Jose Alfonso Maria C. Cua
    Ateneo de Manila University


    Where Did I Go Wrong? Davao Occidental, Nueva Camarines, and Province Creation in the Philippines
    Prince Christian Cruz 
    UP School of Economics

    De-carbonization of Development Path: Analysis of Philippine Household Carbon Footprint
    Moises Neil Seriño
    Göttingen University

    Capturing the Impact of Foreign Shocks into an ASEAN Member State: An Open Economy DSGE-Based Approach
    Jesson Pagaduan, Dustin Ang, Ruperto Majuca and Lawrence Dacucycuy 
    De La Salle University

    The Finance-Inequality Linkage: The Impact of Financial Development to Income Distribution in the Philippines
    Jan Fredrick Cruz and Franco Agustin Imperial 
    Ateneo de Manila University

    The Petite Bourgeoisie: Philippine Income Dynamics towards the Middle of the Pyramid
    Nadia Kristina Ona, Patricia Ortiz and Larisa Jane L. Salaysay
    De La Salle University

    The Philippine Biofuels Industry and the Philippine Economic Development: Challenges and Opportunities towards a Green Economy
    Levi Guillermo Lima Geganzo 
    University of the Philippines-Visayas

    Does Convergence of 4Ps and PhilHealth Sponsored Program Induce Outpatient Care Utilization for Illness/Injury?
    Mel Lorenzo Accad 
    UP School of Economics

    Property Rights, Cheating, and Monitoring
    David Jospeh Anabo
    UP School of Economics

    Businesses’ Perception of Government Red Tape and Its Impact on Participation in Bribery: Evidence from the ASEAN Region
    Edgardo Manuel Jopson, Lee Sooyeon and Kristiane Te
    De La Salle University

    Welfare Analysis of the Energy Policies in the Renewable and Non-Renewable Energy and their Implications on Philippine Energy Sector
    Kairon Shayne Garcia and Miah Maye Pormon
    UP School of Economics

    Estimating the Utilization Rates of Bilateral Tubal Ligation Services in 2008 and 2011 With and Without Information on the Year when the Procedure was Undertaken
    Aizl Cabarles
    UP School of Economics

    Allocation of Energy and Protein in the Philppine Household: Who Gets More?
    Charina Javier
    UP School of Economics

    Patterns of Transfers Received by Filipino Households
    Geraldine Guarin, Chila Inocenica, RutcherLacaza, Arjay Mercado, Luke Sartorio
    UP School of Economics


    Sen. Juan Edgardo “Sonny” Angara

    Chairperson, Ways and Means Committee
    16th Congress

    Senator Sonny Angara is among the newly elected senators of the 16th Congress, having received more than 16 million votes in May 2013. He strongly believes in the potential of every Filipino to succeed, so long as they are given the right opportunities in life, as encapsulated in his campaign slogan “Angara ng Pinoy.”

    He has vowed to push for policies and measures that aim to provide opportunities and empower people primarily through access to quality education and employment generation. And true to his word, in his first year as senator, he has filed, among others, the Unified Student Financial Assistance System for Higher and Technical Education (UNIFAST) Act for greater and more targeted scholarships; the School Modernization and Innovation Act; a bill raising the salaries of teachers; the Financial Literacy and Entrepreneurship Act which; and, the Bill of Rights for New Graduates which seeks to assist each new graduate with employment and business opportunities.

    As the present chair of the Senate ways and means committee, Sonny is for pro-poor and pro-family legislation to strengthen the Philippine state and Filipino families by having more equitable and progressive tax system—one that helps build the middle class. Among the tax reforms he is pushing are the reduction of the individual and corporate income tax rates, the adjustment of the 13th month pay ceiling, and the inclusion of education expenses and first family home as tax deductions.

    He also currently chairs the Senate committee on games, amusement and sports where he is actively pushing for greater support for Filipino athletes. At the same time, he is the vice chair of the Senate committees on tourism, foreign affairs, labor, employment and human resources development, and science and technology.

    Sonny served three terms as representative of the Lone District of Aurora Province from 2004 to 2013 and is proud of having been a part of the province’s transformation from a provincial backwater to a growing tourist, agribusiness and investment destination.

    In his nine-year stint as a congressman, he was regularly awarded by various publications as an outstanding congressman and was recognized as the most prolific in the 14th Congress where he authored into law several bills of national importance such as: the Expanded Senior Citizens Act (RA 9994); the Salary Standardization Law 3 which increases the salaries of government employees; RA 9504 which exempts minimum wage-earners from paying income taxes; the Magna Carta of Women (RA 9710); and, the Tourism Act of 2009 (RA 9593).

    Sonny also served as chairman of the House committee on higher and technical education where he authored or sponsored several important measures in the fields of education and health such as the K-12 law (RA 10533), the Kindergarten law (RA 10157), and the Universal Healthcare law (RA 10606). Sonny also sponsored laws that would create state universities and colleges in less developed provinces such as Catanduanes, Quirino, Negros, Cotabato, Kalinga Province, Compostela Valley, among others.

    In his three terms as congressman, he funded thru his priority development assistance fund the construction of over 300 classrooms, the education of over 3,000 scholars, and the treatment of over 12,000 patients in 11 government hospitals.

    For his achievements, Sonny was recognized as one of the Ten Outstanding Young Men for government service and legislation in 2010—the first public servant to be recognized for achievement in legislation.

    Before entering politics, he had already experienced life as a business reporter/writer, bank clerk, and apprentice at the Philippine mission to the United Nations in New York. While in politics, he found time to teach law and write columns for newspapers.

    Sonny was born in July 1972 to former Senate President Edgardo Angara of Baler, Aurora and teacher Gloria Manalang of Pampanga.

    He took up his elementary and high school studies at Xavier School, and finished his undergraduate degree in International Relations at the London School of Economics graduating with honors. He went on to study law at the University of the Philippines College of Law, and became a member of the Philippine bar in 2001. In 2003, Sonny earned his Master of Laws degree from the Harvard Law School, USA—one of only three Filipinos accepted that year.

    He is happily married with three children. He enjoys playing sports, reading and traveling.


    Economic Outlook 2015 and Beyond Running the Last Mile: Growth and Reforms to 2016

    Sec. Arsenio M. Balisacan

    Director-General of the National Economic and Development Authority and Socio-Economic Planning Secretary of the Republic of the Philippines

    Dr. Arsenio M. Balisacan is Professor and former Dean of the University of the Philippines School of Economics, Adjunct Professor of Australian National University, and Academician of the National Academy of Science and Technology.

    He is presently the Director General of the National Economic and Development Authority and concurrently the Socio-Economic Planning Secretary of the Republic of the Philippines.

    On secondment from UP, he was the Director (Chief Executive) of the Southeast Asian Regional Centre for Graduate Study and Research in Agriculture (SEARCA) in 2003-2009 and Undersecretary at the Department of Agriculture in 2000-2001 and 2003. While in Government, he was the country’s chief negotiator in the WTO Agriculture Negotiations and in various bilateral agriculture negotiations. Before joining the faculty of the University of the Philippines in 1987, he was Research Fellow at the East West Center in Honolulu and Economist at the World Bank in Washington, D.C.

    He has served as adviser and expert in poverty, food security, agricultural and rural development, human development, impact assessment, and governance issues to public chief executives and legislators, non-governmental organizations, and multilateral development institutions, including the World Bank, Asian Development Bank, and various United Nations agencies.

    He is the author or co-editor of 7 books and has published about 100 academic papers and book chapters. His book publications include Poverty, Urbanization, and Development Policy (UP Press), The Dynamics of Regional Development (Edward Elgar, UK, co-edited with H. Hill),Reasserting the Rural Development Agenda (ISEAS, Singapore, co-edited with N. Fuwa), and The Philippine Economy (Oxford University Press, New York, co-edited with H. Hill). He founded and continues to serve as the Editor of the Asian Journal of Agriculture and Development, an internationally refereed journal.

    He has held leadership positions in professional associations, including serving as President of the Philippine Economic Society in 2006, President of the Human Development Network in 2003-2009, Founding Secretary-General of the Asia-Pacific Agricultural Policy Forum in 2003-2006, and Executive Secretary of the Southeast Asian University Consortium for Graduate Education in Agriculture and Natural Resources in 2003-2009. Currently, he is President of the Asian Society of Agricultural Economists.

    He teaches Development Economics, Agricultural Economics, and Special Topics on Poverty, Inequality, and Institutions.


    Mr. Rogier van den Brink

    Lead Economist, Poverty Reduction and Economic Management Department (PREM) East Asia and Pacific Region, World Bank

    Rogier van den Brink is a Lead Economist in the Poverty Reduction and Economic Management Department (PREM) of the East Asia and Pacific Region of the World Bank since October 2008. He oversees the PREM work in the Philippines and leads the Bank’s economic analysis on the country including the Philippines Quarterly Update.  Prior to his assignment in the Philippines, Mr. van den Brink also served as lead economist for Mongolia.

    He has been with the World Bank since 1992. Before joining the East Asia Region, he worked in various positions in the Africa Region, including as Senior Country Economist in South Africa; Deputy Resident Representative in Zimbabwe; and Special Assistant to the Vice Presidents.

    He holds a PhD in agricultural economics from the University of Wisconsin-Madison in the US, and a Masters degree in sociology from Wageningen University in the Netherlands. Before joining the World Bank, he was a Research Associate at Cornell University and an Associate Expert with the Ministry of Foreign Affairs of the Netherlands in Burkina Faso. His academic publications include “Economic Policy and Household Welfare During Crisis and Adjustment in Tanzania” (New York University Press, 1993); and “The Economics of Cain and Abel” in The Journal of Development Studies, Vol. 31, No. 3, February 1995, which was awarded the Dudley Seers Memorial Prize for the best written article in The Journal of Development Studies in 1995.

    On land reform, his publications include: “Agricultural Land Redistribution: Toward  Greater Consensus.” (International Bank for Reconstruction and Development: Washington DC, 2009); “In Search of Land and Housing in the New South Africa: the Case of Ethembalethu.” (World Bank, Washington DC: 2008), on the basis of which a video case study was made:; and “Consensus, Confusion and Controversy: Selected Land Reform Issues in Sub-Saharan Africa” (World Bank, Washington D.C., 2005).


    Mr. Shanaka Jayanath Peiris

    Resident Representative, International Monetary Fund

    Shanaka Jayanath (Jay). Peiris is the International Monetary Fund’s Resident Representative to the Philippines. Prior to this he was a Senior Economist in the Asia and Pacific Department, and Monetary and Capital Markets Department of the IMF covering ASEAN countries and South Asia. During the last 12 years at the IMF, he has also worked on Eastern and Southern Africa, Bhutan, Vietnam and Yemen.

    He joined the Economist Program at the IMF in 2001 after completing his D. Phil (PhD) in Economics at Oxford University as a British Chevening Scholar and a Light Senior Scholar at St. Catherines’ College, Oxford. He was also lecturer in Mathematical Economics and Econometrics at Sommerville College and Jesus College, Oxford. Earlier on, he interned at Deutsche Bank A.G. and the World Bank. He has published academic journal papers on a wide range of topics including inclusive growth, monetary policy and inflation, bond markets, banking and finance, macroeconomic models for emerging markets and co-authored a book on Post-Stabilization Economics in Sub-Saharan Africa.


    Fair Competition, Transparency & Procurement: Attracting European Investments to the Philippines

    Amb. Guy Ledoux

    Head, European Union Delegation to the Philippines

    Guy Ledoux, born in Strasbourg (France), joined the European Commission in 1990 after earning a PhD in Economics from the University of Montpellier and working for several years as a consultant for the OECD and the World Bank.

    From 2007 to 2010, Mr. Ledoux was head of the European Economic and Trade Office in Taipei.

    During his assignment in headquarters between 2005 and 2007 he worked in the European Neighbourhood Policy department, developing new financial instruments for the region.

    From 2001 to 2005, Mr. Ledoux was deputy Head of the European Commission Delegation in South Korea. His mission included the representation of the EU in high level missions to North Korea.

    From 1999 to 2001, Mr. Ledoux worked in the Middle East Department and was in charge of relations with Israel. He oversaw the launch of the EU -Israel Association Agreement and the first EU-Israel Association Council.

    In 1995, Mr. Ledoux as deputy Head of the European Commission Delegation in Tunisia, oversaw the launch of the EU -Tunisia Free Trade Agreement and a major assistance programme. He remained in Tunisia until 1999.

    Between 1992 and 1994 he was posted in the Asia Department working on Asia-Europe strategic relations. He concurrently was responsible for the Philippines Desk.

    Mr. Ledoux is married to Margaret, a British citizen holding a Masters in Public Health and former World Health Organization consultant. They have two children.


    Long Term Growth, Equity and Piketty

    Dr. Raul Fabella

    National Scientist, Professor- UP School of Economics

    Dr. Fabella headed the UP School of Economics three times and was among those who advocated the revised general education curriculum which allowed students to choose their subjects. For Economics, he designed an introductory course that combined economics with history and the history ideas which required students to read classic works. Fabella himself is a man of letters, having mastered Latin classics.

    Dr Raul V. Fabella was recently awarded National Scientist for being an outstanding economist. He is “recognized for his pioneering work on novel analytic constructs useful for problems in economics, and the introduction of sub-symmetric sets which resulted in extending the reach of the celebrated Nash bargaining solution to more egalitarian (Rawlsian)grounds. He also proposed the Olson ratio which enriches the rent-seeking paradigm and derived and applied the debt-adjusted real exchange rate which enlarges the pool of relevant indicators for exchange rate policy.”


    Dr. James Roumasset

    Professor, University of Hawaii

    Prof. James Roumasset is a Professor of Economics at the University of Hawaii. His research interests include environmental & resource economics, institutional economics, public finance and development microeconomics in developing countries. His publications and competitive grants in recent years have focused on new methods for resource and environmental policy analysis and promoting new connections between and within disciplines. He has spent a number of years in the Philippines studying risk and agriculture. His dissertation “Risk and Choice of Techniques for Peasant Agriculture and the Case of Philippine Rice Farmers” won the first place in 1973 Omicron Delta Epsilon Society competition for best US Ph.D. dissertation in economics. He has previously held positions at UC Davis, the University of the Philippines, ANU, Yale, the University of Maryland, the International Rice Research Institute, and the World Bank. He has served on the Board of Directors of the Western Economic Association International and the editorial boards of the American Journal of Agricultural Economics, Contemporary Economic Policy, Asian Journal of Agriculture and Development, Asian Journal of Agricultural Economics, and SE Asian Journal of Agricultural Economics.  He has a Ph.D. in Economics from the University of Wisconsin-Madison.


    Mr. Siegfried Herzog

    Regional Director, Friedrich Naumann Foundation- South Asia

    Siggi Herzog is the Friedrich Naumann Foundation for Freedom (FNF) Regional Director for Southeast and East Asia, and is currently based in Bangkok, Thailand. Prior to this, he was Regional Director for South Asia where he stayed in New Delhi, India after moving from Manila, Philippines where he served as Country Director from 2005-2010.

    Siggi graduated with a Masters in Economics from Eberhard-Karls University Tuebingen,Germany. He started his tertiary studies researching on framework conditions for industrial investment in Bangladesh. He also became an exchange student at Georgetown University, Washington D.C., USA.

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