Economics

This study has identified and presented the sources of income, the consumption expenditure behavior and the factors affecting the consumption expenditure of the elderly-headed households in Mindanao. Descriptive statistics were used to present the consumption expenditure and sources of income of the elderly-headed households. Ordinary Least Squares or OLS was used to know the factors that can affect the consumption expenditure of elderly-headed households.

This study determined the factors influencing household heads in Northern Mindanao to purchase private life and health insurance using 2018 family income &expenditure survey results. Levels of expenditures on these insurances by socioeconomic characteristics such as age, sex, highest grade completed, employment status, income, savings, marital status, family size, and geographical location were presented. Household heads began to purchase life & private health insurance at ages 16 to 25 and peaked at 46-55. Male household heads were found to have more expenditures than female heads, while those household heads who are college graduates and with jobs were found to have higher expenditures. Household heads with higher incomes have higher expenditures on these insurances. Divorced or separated heads have higher expenditures than other marital statuses. Household heads with bigger family sizes and living in urban areas have likewise exhibited higher expenditures. Results from the OLS revealed that highest grade completed, job, income, and family size were found statistically significant to influence the demand for private life insurance. Meanwhile, the highest grade completed, income, family size, and geographical location were significant in demand for private health insurance. Further, it revealed that a 69 percent of the total 9,096 households-heads in Northern Mindanao have no private life insurance, only 31 percent. In terms of private health insurance, 71 percent of the total household heads have no private health insurance, only 29 percent. Overall, results suggest the need to strengthen further the knowledge and information drive regarding the benefits of these private insurances, as these insurances give safety nets in times of need.

The study was conducted to understand the saving behavior of the working population in Mindanao using the Family Income and Expenditure Survey (FIES) datasets covering the periods 2003 to 2015. The study determined the factors which influence the families to save using Tobit regression and compared the levels of family income, expenditures, and savings of the regions of Mindanao. The study revealed that the real value of family savings increases as the family head gets older, but it eventually declines as the head nears retirement age. Tobit estimates revealed that in Mindanao, the age of the family head, household tenure, wages from agricultural and non-agricultural activities, income from entrepreneurial activities and cash assistance from abroad positively influence families to save; while sex of the family head, educational attainment, and the number of young dependents negatively influence the families to save. Moreover, the family size, marital status and geospatial location of the family heads have shown both positive and negative influences on family savings for different years. Meanwhile, the ANOVA results revealed that in 2015 there were significant variations between and among the income, expenditure, and savings of families in all regions of Mindanao. However, the Tukey-Kramer HSD test revealed that family savings in some regions in Mindanao have statistically the same means such as the Zamboanga Peninsula and CARAGA, Northern Mindanao and Davao Region, and SOCCKSARGEN and ARMM, while other regions vary significantly from each other. Overall, the ANOVA results revealed that for 2015 the Davao Region has the highest mean family income and expenditure, while Northern Mindanao recorded the highest mean family savings. The ARMM region showed the least value of mean income, mean savings and mean expenditures of families among the regions of Mindanao.

This research paper presented the profile and identified the factors influencing household heads entrepreneurial engagement in Northern Mindanao. Using the 2018 Family Income and Expenditure Survey (FIES) microdata, its descriptive analysis revealed that of the total 9,096 household heads in Northern Mindanao, 64.5% are engaged in entrepreneurial activities, while the remaining 35.59% household-heads are not involved. In terms of household heads characteristics, male heads, heads with jobs, heads who lived in an urban area, heads with bigger family sizes, and heads who were married were found to be more engaged in entrepreneurial activities. In terms of age, entrepreneurial activities vary. Household heads started to engage in entrepreneurial activities at ages 16-25 and peaked at the age bracket of 46-55. Regarding household head's highest grade completed, college graduates recorded the highest entrepreneurial engagements compared to other educational attainments. Furthermore, logistic regression revealed that savings, age, family size, marital status, and job were found significant and positive in influencing household heads to engage in entrepreneurial activities. Meanwhile, income, highest grade completed, and geographical location were essential but negatively related to engaging in entrepreneurial activities. Sex, access to electricity, and household owners' house tenure did not influence entrepreneurial engagement. Overall, the results imply further strengthening of knowledge and engagement in entrepreneurial activities among household heads as it is seen as a driver and cornerstone of the country's growth and sustained economic development.