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READ MORE...Risk, Shocks, Building Resilience: PhilippinesThe DPRM theme “Angkop na Kahandaan: Matatag na Ekonomiya at Lipunan” (Investing Risk Reduction for a Resilient Philippines) is comprehensively explained in this sixth issue of the PIDS Economic Policy Monitor. The theme chapter (Chapter 3) discusses the rationale for building economic resilience. Due to overlapping shocks and risks of varied nature, there is a need to look beyond natural hazards and to acknowledge that the sources of risks are many and interconnected. Evidence points to the critical role of good policies in bolstering coping ability and in building resilient systems. Appropriate interventions by way of policies, programs, and projects are crucial to develop three kinds of capacities: absorptive, adaptive, and transformative. Absorption and adaptation are commonly emphasized in current discussions of resilience, risk reduction, and disaster management. Transformation, meanwhile, refers to improvements or changes in the structures and mechanisms that empower economic agents to respond better to further shocks and stresses. With its boosted resilience, a transformed system is more dynamic than its previous state and thus capable of responding to change effectively.
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Unlock MSME potential through global value chains, say PIDS, WB
The role of global value chains (GVCs) as channels for the growth of micro, small and medium enterprises (MSMEs) was emphasized at a policy forum hosted recently by the World Bank (WB)-Philippine Office and state think tank Philippine Institute for Development Studies (PIDS).“Three quarters of world trade is in intermediate goods and services,” explained WB Senior Economist Olivier Cattaneo. “It’s much harder [for MSMEs] to export directly than indirectly.”For the Philippines, GVC participation presents an opportunity for leaders to improve the quality of jobs in the country and for MSMEs to access international markets.READ MORE...
