socioeconomic impact part 2

1. Socioeconomic
Impact

2. Consumers(New products and
Services)
•Whenever new product and services
become available, consumers can get
interested in new offering.They to try any
new product or service to know whether
they can be satisfied by these.

3. Suppliers: Inventors (capital,
income)
•Firms can measure their respective socioeconomic
impacts by opting to reduce costs or creating new
opportunities.The socioeconomic impact of capital
and income to investors and suppliers determine
how much money they need to invest in order to
reach their target income.

4. Government (tax revenues, property
alleviation, basic services)
•If the socioeconomic agenda of any government centers
around its people, positive socioeconomic impact of tax
revenues, poverty alleviation, and basic services rely
heavily on the government dedication to serve public
interest. Of course, accomplishing government goals and
policies also entails the full cooperation on the part of its
citizens.

5. Households (Standard of
living, employment)
•Better income opportunities
through stable jobs and businesses
surely improve people’s standard of
living.

6. InternationalTrade (exports and imports
of goods and services) leading to option
to venture into businesses
•Good international trading policies encourage
more investments on importation and exportation
of goods and services in a country.The
socioeconomic impact of good trade relations
redound to more robust business environment,
thereby boosting people’s confidence to venture
into their own businesses.

7. ECONOMIC AND
SOCIAL DEVELOPMENT
INTHE PHILPPINES

8. The Philippine Economy in
1980’s
•The Philippines began to undertake economic reforms in
the early 1970’s.The thrusts of the reforms were global
economic integration, deregulation, and privatization,
which were similar to the directions of other developing
countries during the period (Yap 2013). However, reforms
in the country were stalled by the debt crises in the early
1980’s .The crises stemmed from a steep increase in
interest rates around the world and the recession
happening in industrialized countries during this period.

9. Socioeconomic Performance:The
Philippines from 1992-1996
• Recovering from the crises, the Philippines started pursuing
investment liberalization in late 1980’s. several laws were passed to
encourage and promote investment.There was the Omnibus
Investment Code that consolidated investment laws, the Foreign
Investment Act of 1991, and the Special Economic Zone Act of 1995,
designed to promote and attract investment into the country.
Despite the reforms during this period, it was still evident that the
Philippines had a lower investment rate to its Asian neighbors.

10. • During the early 1990’s the Philippines sought to transform from a largely
agricultural economy to a newly industrialized one.
• The SRA was an integrated set of major reforms that would enable Filipinos to:
a)meet their basic human needs and live decent lives; b)widen their share of
resources from which they can earn a living or increase the fruits of their labor;
and c)effectively participate in decision-making processes that affect their
rights, interest, and welfare.This reforms were perceive to enhance the
country’s democratic processes.The SRA was composed of social reform
packages, providing program and services for marginalized sectors in the
country`s twenty poorest provinces.Two years in to its implementation, the
SRA was enhanced through the adoption of an ecosystem perspective.
Emphasis was given on the following four dimensions of poverty where the
reform could have the greatest impact:

11. •Social equity, by providing the poorest of the poor access
to basic service for survival
•Economic prosperity, by ensuring that the basic sector
have access to productive assets that would allow them to
contribute to national growth.
•Ecological securities, by incorporating the parameters of
sustainable development in the management and
utilization and natural resources.

12. Philippine Economic Status: 1997-2000s
and the National Economic
Development Plan
• The year 1997 was an economy disaster from the Philippines. The country
was hit by two catastrophes :The Asian financial crisis of July 1997 and the
EL Nino phenomenon the brought the words drought recorded. Because of
these, the country experienced a negative GDP growth in 1998.
• The Economy started to recover by 1999 due to growth in the agricultural
sector.

13. InternationalTrade
• International trade takes places when there is an exchange of
goods and services across national boundaries. International trade
allows countries to specialize in producing goods which can give
them greater efficiency. Exports refer to goods and services one
country sells to other countries while imports are the goods and
services one country buys from other countries.
• The theory of international trade explores why countries trade
which each other, the gains from trade and how these distributed,
and the dynamics involved in the trade of low-productivity
countries with high- productivity ones, among others.