Economics

Mary Grace M.
Operaña
BSES 2A
Filipino-Politician Economists and their contributions
Diosdado Macapagal
His family was poor (hence his nickname "poor boy from Lubao"), but with the help of
Honorio Ventura, the Secretary of Interior at that time, he studied law and graduated in the
University of Santo Tomas and pursued and earned the postgraduate degree of Doctor of Civil
Law and Ph.D. in Economics in the same university. During the Japanese occupation of World
War II, Macapagal served as support to the anti-Japanese task force and as an intelligence
liaison to the US guerillas. It was during this period that his first wife died. He later married
Evangelina Macaraeg, the mother of current Philippine President Gloria Macapagal Arroyo.
Gloria Macapagal-Arroyo
Arroyo, a practicing economist, has made the economy the focus of her presidency.
Early in her presidency, Arroyo implemented a controversial policy of holiday economics,
adjusting holidays to form longer weekends with the purpose of boosting domestic tourism and
allowing Filipinos more time with their families. Economic growth in terms of gross domestic
product has averaged 4.6% during the Arroyo presidency from 2001 up to the end of 2005. This
is higher than previous recent presidents when compared to the 3.8% average of Aquino, the
3.7% average of Ramos, and the 2.8% average of Joseph Estrada. Inflation during the Arroyo
presidency has been the lowest since 1986, averaging 2.5%.
Arroyo's handling of the economy has earned praise from observers including former US
President Bill Clinton, who praised Arroyo for making "tough decisions" that put the Philippine
economy back in shape.
Solita Monsod
Monsod is best remembered for her role as Socio-economic Planning Secretary during
the term of President Corazon Aquino and as a co-host in the GMA Network show Debate with
Mare and Pare with former Pangasinan Governor and Vice Presidential candidate Oscar Orbos.
Monsod is a respected economist and political commentator in the Philippines.
In 2005, Monsod became an outspoken critic of Arroyo upon massive allegations of election
cheating, graft and corruption.
Joey Salceda
Voted by foreign fund managers in Asiamoney's Annual Survey as "Best Analyst" in 1995
and "Best Economist" for four consecutive years from 1993 to 1996, Salceda brought to
Congress a wealth of experience from the financial markets and the field of economics.
During his term of office, he was able to enact three important measures. He was the principal
sponsor and co-author, respectively, of Republic Act No. 8751 or the Countervailing Duty Act,
Republic Act No. 8752 or the Anti-Dumping Duty Act, and Republic Act No. 8800 or the
Safeguard Measures Act. These measures are critical in allowing the country realize the full
benefits of its membership in the World Trade Organization (WTO) and at the same time
protect domestic farmers. On January 18, 2008, Albay Governor Joey Salceda and the
Department of Science and Technology (DOST) Estrella Alabastro relaunched one of the
country's 4 P 18-million upper-air receiving equipment in Albay. The other upper-air receiving
stations are in Laoag, Cebu, and Tanay, Rizal
Solita Collas-Monsod, an economics professor in the School of Economics of the University of

the Philippines (UPSE). During the time of President Corazon Aquino, she was appointed as
Director General of the National Economic and Development Authority and as Socio-economic
Planning Secretary.
Felipe Medalla, also a professor of UPSE. He did extensive research in such subjects as
exchange rate policies, economic crisis and economic growth. Like Solita Monsod, he became
Director General of NEDA and Socio-economic Planning Secretary during the time of President
Joseph Estrada.
Dr. Dante B. Canlas, a professor of UPSE, whose expertise is in the areas of macroeconomic
planning, social development policy formulation, public investment programming and project
monitoring. He became Director General of the National Economic and Development Authority
and Socio-economic Planning Secretary when President Gloria Macapagal-Arroyo, his student,
asked him to take the posts.
Gerardo P. Sicat, a Professor Emeritus of UPSE who has written economic books and
textbooks. His books delve on such subjects as political economic reform, electricity reform,
and labor market and issues.
Ernesto M. Pernia, a professor of UPSE and author of many economic books and publications
dealing with regional development. He was once a lead economist of the Asian Development
Bank.
Cielito Habito, former Director General of the National Economic and Development Authority.
Before his stint in NEDA, we was Undersecretary of the Department of Finance.
Raphael Lotilla, former Deputy Director General of the National Economic and Development
Authority. After his stint in NEDA, he was appointed Secretary of the Department of Energy.
Ralph Recto, the current Director General of the National Economic and Development
Authority.

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Mary Grace M.

Filipino-Politician Economists and their contributions

Solita Collas-Monsod, an economics professor in the School of Economics of the University of

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