Producto Interno Bruto y Producto Nacional Bruto.  

Posted by eytutritu



Based on our researches:

Gross Domestic Product or simply GDP means monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis. It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory. 

GDP = C + G + I + NX

where:

"C" is equal to all private consumption, or consumer spending, in a nation's economy
"G" is the sum of government spending
"I" is the sum of all the country's businesses spending on capital
"NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports - Imports)

(Investopedia) GDP is commonly used as an indicator of the economic health of a country, as well as to gauge a country's standard of living. Critics of using GDP as an economic measure say the statistic does not take into account the underground economy - transactions that, for whatever reason, are not reported to the government. Others say that GDP is not intended to gauge material well-being, but serves as a measure of a nation's productivity, which is unrelated.

…..

Gross National Product or simply GNP means an economic statistic that includes GDP, plus any income earned by residents from overseas investments, minus income earned within the domestic economy by overseas residents.

GNP = GDP + income earned by domestic residents - income earned by foreign investors in the domestic market

(Investopedia) GNP is a measure of a country's economic performance, or what its citizens produced (i.e. goods and services) and whether they produced these items within its borders.



GROSS NATIONAL PRODUCT AND GROSS DOMESTIC PRODUCT
BY EXPENDITURE SHARES:  
Annual 2008 and 2009
AT CURRENT AND CONSTANT 1985 PRICES, IN MILLION PESOS

TYPE OF EXPENDITURE
AT CURRENT PRICES
AT CONSTANT PRICES
2008
2009
Growth Rate
(%)
2008
2009
Growth Rate
(%)
Personal Consumption Expenditure
5,281,072
5,674,966
7.5
1,107,569
1,152,658
4.1
Government Consumption
697,653
809,688
16.1
91,214
101,163
10.9
Capital Formation
1,136,138
1,124,644
-1.0
257,766
243,052
-5.7
Exports
2,736,310
2,431,373
-11.1
663,324
574,284
-13.4
Less : Imports
2,842,003
2,364,761
-16.8
633,770
621,543
-1.9
Statistical discrepancy
400,201
3,007

-69,017
-17,499








GROSS DOMESTIC PRODUCT
7,409,371
7,678,917
3.6
1,417,087
1,432,115
1.1
Net factor income from the rest of the world
852,121
1,131,067

174,022
222,821

GROSS NATIONAL PRODUCT
8,261,492
8,809,984
6.6
1,591,109
1,654,936
4.0
MEMORANDUM ITEMS: Trading gain (loss) from changes in the terms of trade



-53,998
63,868

Gross National Income



1,537,111
1,718,804

(source: NSCB)



From the information above, we could see that Gross National Product is supplementary than the Gross Domestic Product. 

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Género y Desarrollo (económico)  

Posted by eytutritu


                Last Tuesday, our professor in Economics told us about the upcoming symposium in the theatre and he needs two delegates to represent our class. It’s all about the Gender and (Economic) Development or simply GAD. It aims equality and equity amongst all genders in a particular place. GAD approach focuses on the socially constructed basis of differences between men and women and emphasizes the need to challenge existing gender roles and relations



                “Gender Equality” denotes women having the same opportunities in life as men, including the ability to participate in the public sphere, while “Gender Equity’ denotes the equivalence in life outcomes for women and men, recognizing their different needs and interests, and requiring a redistribution of power and resources. (http://www.bridge.ids.ac.uk/reports/re55.pdf)



                On the said event, first speaker Vice-Mayor of the Angeles City, Vicky Vega emphasized the difference between sex and gender. Sex refers to biological differences; chromosomes, hormonal profiles, internal and external sex organs and Gender describes the characteristics that a society or culture delineates as masculine or feminine.



                However, this time, GAD doesn't only promote women’s empowerment but also of the LGBT/GLBT community which stands for Lesbian, Gay, Bisexual and Transgender. (For some instance, it is LGBTQ/GLBTQ. Q stands for “queer or questioning”, the people who may be unsure of their gender or still exploring fall on this category.) LGBT community demands from the government to pass laws which can protect and promote their human rights, particularly the Anti-Discrimination Bill that has been languishing in the Philippine Congress for the past eleven years and the other laws as the Gender Recognition Law and Anti-hate Crime Law.

            “Jhem, 24, is a pretty transgender who frequently wins drag beauty pageants, a loving child and a doting provider to younger siblings who depend on her for their school expenses and lunches. She graduated with a degree in business management. Her neighbors in Barangay Caybiga, Caloocan City considers her to be better off than many residents who live a hard scrabble life in the village where unemployment runs at around 40%. 
                However, Jhem laments that she has to be content with working as a hairdresser in the neighborhood, working long hours for less than minimum wage. After graduation, she spent months looking for a job in the corporate world, only to be turned down by interviewers. 
                "I didn't want to think that my feminine demeanor is the reason why they won't hire me," Jhem sighs. "In college, I was always in denial, refusing to believe my other cross-dressing friends who kept telling me I will also have to be content working typecast work for queers, you know, like cutting hair." 
                Like Jhem, hundreds of thousands of transgender, lesbians and gay men all over the Philippines are victims of discrimination in hiring policies, wage levels, benefits and other workplace benefits. The problem is so pervasive that the victims are not even painfully aware that they suffer inequalities in terms of quality of life and legal benefits.” (http://www.allvoices.com/contributed-news/8356368-philippines-antidiscrimination-bill-good-for-gays-benefits-economy)

                Same as to the second speaker, the well-known choreographer Douglas Nierras, had said about his friend named Rayco(?), Rayco graduated as a Summa Cum Laude in a prestigious school in Manila, (I forgot the course he took but it’s related in economics.) he was teaching in that school but, he’d started having difficulties about it because of his appearance. He was a male but acts like a female; simply a transgender. The faculty advised him to resign so that he can make the conflict stop and not get worse. They also said that it was his looks that’s causing the problem. For Rayco, it was painful to have a forced-resignation just because of his gender, it was not his intention to act that way, and for him it’s normal, he’s normal; That was the reason why he applied to be a showgirl in Japan, and because of that he earned a lot and got rich, upon earning so much he returned to the school where he taught and told his boss, "thank you because you let me get rich by leaving the university."

                Douglas shared that story to make his point be clear. He wants us to realize that because of discrimination amongst them, we have lost a brilliant teacher who should have been educating students, making them be productive in our economy, instead of entertaining other people. Gays contribute more in our economy more than what we thought or think. LGBT community just wants acceptance and respect, nothing more, nothing less.

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US Crisis Económica, Ya No Una Contradicción de Términos  

Posted by eytutritu




The credit rate downgrade of the United States is the latest that the GLOBAL CRISIS which erupted last 2008 was not yet resolved. The US markets continue to fall despite Obama's calming words.

This is the United States of America. No matter what some agency says, we will always be a triple A country.
-Barack Obama

President Barack Obama blamed the Tea Party Republicans for losing the Triple A status of the US. The crisis will have a big impact on our country, the Republic of Philippines. We will have weaker remittances, lower exports, and more problematic investments. As of now, the USD is decreasing vs. the PHP.

The problem of the United States is not just in immediate financial terms but rather it shows how deep the long-term obstacles are. They are all facing slowing growth due to public debt troubles, austerity, high unemployment and the lack of productive domestic investment opportunities- same as the woes in the philippines.

All is not well for the world economy and this is the single most important economic feature in the current world situation. The sooner the Philippines' economic directions are focused on building the domestic economy the better. Job creation and poverty reduction will not happen if the same failed globalization policies of previous administrations are retained. There must instead be more democratic income, asset and wealth reform and greater assertions of economic sovereignty in the country’s international trade and investment relations. 
-Sonny Africa

US President Obama announced an agreement reached early this week to cut about $1 trillion over 10 years so as not to drag the fragile US economy.
Earlier, Fitch Ratings said Philippine banks have enough “firepower” to survive the negative impact of the fragile economic growth in the US and the debt crisis in Europe.

The Bangko Sentral ng Pilipinas is confident that banks operating in the Philippines are well capitalized to survive the debt crisis being faced by the US in light of a responsible downgrade of its TRIPLE A credit rating despite an agreement reached by Democrat and Republican leaders to reduce its deficit and avoid default.

Growth remains not just imbalanced, but weak around the world. Economic activity is slowing and the risks are if anything increasing as the US downgrade, to take a particular instance, shows. The situation is still very fragile despite repeated claims in the last two years of the world having dealt with the crisis and now slowly, if unevenly, recovering.

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