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Abstract:
The economy of the Philippines is open to trade and capital inflows, and has grown rapidly since 2002. Over the last 10 years, however, domestic investment, while stagnant in real terms, has shrunk as a share of GDP. In an open and growing economy, why the decline? Three reasons explain the puzzle. First, the public sector cannot afford expanding its investment at GDP growth rates. Second, the capital-intensive private sector does not find it convenient to raise investment at the economy's pace. Third, fast-growing businesses in the service sector do not need to rapidly increase investment to enjoy rising profits. Yet, the economy keeps growing. On the demand-side, massive labor migration results in remittances that fuel consumption-led-growth. On the supply-side, free from rent-capturing regulations, a few non-capital-intensive manufactures and services boost exports. The economic system is in equilibrium at a low level of capital stock, where all economic agents have no incentive to unilaterallyincrease investment and the first mover bears short-term costs. As a consequence, growth is slower and less inclusive than it could be. To make it speedier and more sustainable, and to reduce unemployment and poverty, the economy needs to move to a"high-capital-stock"equilibrium. This would be attainable through better-performing eco-zones, a competitive exchange rate, greater government revenues, and fewer elite-capturing regulations.

Economic Theory & Research, Debt Markets, Political Economy, Access to Finance

Abstract:
According to conventional wisdom, health and education are important factors for economic and social development: they improve productivity and income distribution, and the poor gain the most. Nonetheless, in many regions of the world not all members of society receive these services equally. To a large extent, women are left out of health and education systems; as a consequence, they constitute an economically and socially disadvantaged group. Disproportionate poverty, low social status, and their reproductive role expose women to high health risks, resulting in needless and largely preventable suffering and death. A woman's health and nutritional status is not only an individual welfare concern, but also a national one, because it has an impact on her children and her economic productivity. Similarly, women's education still lags far behind men's in most developing countries, with far-reaching adverse consequences for both the individual and national well being. Indeed, more schooling increases the incomes of males and females, but educating girls generates much larger social benefits. Why? Because women will use both the newly acquired knowledge and related extra income for the benefit of the family. This article analyzes the gender gaps within health and education in six regions of the developing world: Sub-Saharan Africa; South Asia; East and Southeast Asia; The Middle East and North Africa; Latin America and the Caribbean; Eastern Europe and Central Asia. In all of these regions, there is an unfinished agenda in terms of access and equity. Three substantial reasons support an active government interest in the field of women's health and nutrition and justify public expenditure in gender-targeted educational policies: equity, economic development and social cohesion. On the one hand, investment in women's health and nutrition promotes equality, widespread benefits for this generation and the next, and economic efficiency because many of the interventions that address women's health problems are cost-effective. On the other hand, educating women brings about the potential benefit of educating the population. The failure to educate women can result in the loss of raised productivity, increased income, and improved quality of life. In general, the exclusion of women from health and education delivery can act as a severe constraint on the achievement of higher development levels. Hence, it is a high priority to invest more in these social services and to remodel their delivery systems.

Gender Gap, Health, Education

Abstract:
Mauritania is a resource-rich developing country. As many other African nations, it will not reach most of the Millennium Development Goals, unless the authorities commit to accelerating progress. To succeed by 2015, the government needs to: mobilize additional financial resources, introduce policy changes at the sector level, and strengthen the links between strategic objectives and the budget. Adopting the Millennium Development Goals as the overarching development framework will keep policy-makers focused on concrete results and help them avoid the so-called "natural resource curse." This paper calculates the total cost of the Millennium Development Goals and financing gap (on aggregate and for each goal); recommends changes in domestic sector policies; and proposes ways to integrate the Millennium Development Goals into the budget process. Over 2008-2015, the total cost of reaching the goals in Mauritania and the resulting financing gap stand at, respectively, around 9 and 3 percent of non-oil gross domestic product on average per year. Education is the most expensive goal in absolute terms, but the individual financing gaps are widest for poverty reduction and improving maternal health. On the policy side, sector strategies need to be aligned with the goals and resources allocated more than proportionally to the disadvantaged groups, mainly at the local level.

Population Policies, Health Monitoring & Evaluation, Rural Poverty Reduction, Health Systems Development & Reform

Abstract:
This paper presents the National Health Accounts (NHA) methodology and its relevance in policy making in the Latin American and Caribbean (LAC) region. After presenting the concept of NHA and highlighting recent results of LAC data collection activities, the paper will focus on policy applications of NHA and its usefulness in supporting the financial dimension of health reforms. Lastly, it will analyze problems and drawbacks in the use of this tool. In short, the paper attempts to answer the following questions: What is NHA? How is it used? Why is it not used? How can and should it be put to use in LAC? Despite the serious drawbacks that exist in the NHA practice (e.g., methodological problems, understanding by policy makers, and institutionalization), the main message of this paper is a normative one: NHA should become the Management Information System for health policies, in particular when the health reform process is in progress.

Health Economics, Public Policy, Economic Welfare, Public Economics, Health Financing, Latin America