University of the Philippines Los Baños
Tuesday, 14 November 2017 14:02

UPLB takes part in 55th Ph Econ Soc Conference

PhEconSoc2017

UPLB officials and researchers participated and presented at the 55th Philippine Economic Society (PES) Annual Meeting and Conference on Nov. 8 at Novotel Manila, Quezon City.

Dr. Jose V. Camacho, dean of the Graduate School and president of PES, said in his opening message that the conference sought to examine how the Philippine economy should respond to the risks and uncertainties brought about by global and local issues and challenges.

“With the critical analyses and perspectives to be shared by our esteemed policy makers and colleagues in the government and private sector, we hope that this knowledge-sharing will be able to assist us in securing our people’s welfare and nation’s future,” Dr. Camacho said.

The plenary sessions were divided into three themes: economic and financial literacy; growing amidst risk and uncertainty; and competition, growth, and uncertainty.

Officials from national offices such as the Department of Labor and Employment, Philippine Statistics Authority, Department of Finance, National Economic and Development Authority, Department of Budget and Management, Bangko Sentral ng Pilipinas, and Philippine Competition Commission, led the plenary discussions.

The first plenary discussion emphasized the importance of investing in financial and economic education and providing assistance to the informal sector in the form of training. Assoc. Prof. Amelia L. Bello of the College of Economics and Management said that financial and economic literacy training should begin at a young age and that it is a good way to help Filipinos spend rationally and efficiently.

The second plenary discussion discussed resilient growth as the economy faces changes and challenges from politics, poverty, and other social problems. It emphasized the importance of investing in infrastructure and an efficient financial system to achieve economic growth on both micro and macro scales. Meanwhile, the last plenary session enlightened on the basic principles, implementation, and benefits of the Competition Policy.

Afterwards, representatives from the private and national institutions presented their studies across 16 parallel sessions, focusing on various features and stakeholders in the Philippine economy.

The event was concluded with a keynote speech from Chief Justice Ma. Lourdes Sereno, who called for a strong and independent judiciary in the country. She said that long-term investors look for stable and independent rule of law institutions, and that the rule of law is not only essential for defending basic human rights, but also in achieving economic prosperity.

 “To support the judiciary’s call for the rule of law is to support not only our democracy, but also to engender an environment conducive to economic growth,” Chief Justice Sereno said.

She presented some of the judiciary’s programs to improve judicial services, such as “Hustisyeah!”, which aims to reduce the number of pending cases and speed up the dispensation of justice to the public. She invited those who were present to study the Supreme Court’s judicial programs and help evaluate and monitor them to translate their pilot success to institutionalization, adding that “it is only through collective input and interaction that we can make Filipino lives better.” (Jessa Jael S. Arana)