A Study on the Correlation between Fertility Behaviour and the Conditions of Labour Market, Capital Market and Legal Structure in Developing Countries
University of Asia and the Pacific
School of Economics
A Study on the Correlation between Fertility Behaviour and the Conditions of Labour Market, Capital Market and Legal
Structure in Developing Countries
Final Paper in Social Economics Course
Submitted By:
Gregorio A. Mabbagu
Jose Romano S. Mira
Erica Myra P. Yap
Submitted to:
Ms. Jovi Dacanay
Faculty, School of Economics
April 1, 2012
1
We dedicate this study to those unwanted babies who left our world very early…
2
TABLE OF CONTENTS
Abstract
Chapter One: Introduction
Background of the Study
Statement of the Problem
Significance of the Study
Scope and Limitations
Definition of Terms
Chapter Two: Review of Related Literature
On the Economic Impacts of Population Growth
On the Endogeneity of Fertility in Economic Analysis
On the Security of Property Rights and the Legal Structure
On Labor Market Condition and Capital Market Condition
Chapter Three: Research Methodology
Theoretical Diagram
Theoretical Framework
Empirical Framework
Main Model
Instrumental Model
Chapter Four: Data Presentation, Interpretation and Analysis
Regression Results (TSLS)
Regression Results Interpretation
Analysis of the Results
Chapter Five: Conclusion and Recommendation
Conclusions
Recommendations
Bibliography
Annex
4
4
5
5
5-14
15-21
19
20
21
22
23
24
27
28
29
30
30-32
33
34
35
38
LIST OF FIGURES
Figure 1. Theoretical Diagram
Figure 2. Instrumental Variables Treatment
23
26
3
ABSTRACT
The growing and heated debate in the academe and among policy-makers about the issue of population growth proves to be more prevalent today in developing countries, such as the
Philippines. Is it a burden or a gift? This dualism in viewing population growth pushes people to the crossroads. The alteration of fertility rate as a national concern now begs the question.
Although in the economic standpoint, it would be clear that fertility rate is largely a
School of Economics
A Study on the Correlation between Fertility Behaviour and the Conditions of Labour Market, Capital Market and Legal
Structure in Developing Countries
Final Paper in Social Economics Course
Submitted By:
Gregorio A. Mabbagu
Jose Romano S. Mira
Erica Myra P. Yap
Submitted to:
Ms. Jovi Dacanay
Faculty, School of Economics
April 1, 2012
1
We dedicate this study to those unwanted babies who left our world very early…
2
TABLE OF CONTENTS
Abstract
Chapter One: Introduction
Background of the Study
Statement of the Problem
Significance of the Study
Scope and Limitations
Definition of Terms
Chapter Two: Review of Related Literature
On the Economic Impacts of Population Growth
On the Endogeneity of Fertility in Economic Analysis
On the Security of Property Rights and the Legal Structure
On Labor Market Condition and Capital Market Condition
Chapter Three: Research Methodology
Theoretical Diagram
Theoretical Framework
Empirical Framework
Main Model
Instrumental Model
Chapter Four: Data Presentation, Interpretation and Analysis
Regression Results (TSLS)
Regression Results Interpretation
Analysis of the Results
Chapter Five: Conclusion and Recommendation
Conclusions
Recommendations
Bibliography
Annex
4
4
5
5
5-14
15-21
19
20
21
22
23
24
27
28
29
30
30-32
33
34
35
38
LIST OF FIGURES
Figure 1. Theoretical Diagram
Figure 2. Instrumental Variables Treatment
23
26
3
ABSTRACT
The growing and heated debate in the academe and among policy-makers about the issue of population growth proves to be more prevalent today in developing countries, such as the
Philippines. Is it a burden or a gift? This dualism in viewing population growth pushes people to the crossroads. The alteration of fertility rate as a national concern now begs the question.
Although in the economic standpoint, it would be clear that fertility rate is largely a