Yearlong Theme

Transformi ng i nto a Modern ASEAN Economy

In 2015, the Association of the Southeast Asian Nations (ASEAN) will establish the ASEAN Economic
Community (AEC) by integrating the economies of its member countries. With this initiative, the member
countries of the ASEAN hope to achieve: (a) a single market and production base, (b) a highly competitive
economic region, (c) a region of equitable economic development, and (d) a region fully integrated into the global
economy

(ASEAN, 2008). With the deadline of the integration fast approaching, one of its hindrances is the
development gap between the ASEAN-6 and CLMV
1
countries. The development gap exists due to differences in
income per capita, human resources, and institutional capacity of member states which are driven by various
factors such as labor mobility, trade openness, governance, human capital, and physical capital (McGillivray,
2013)
2
. The presence of such gap could prevent nations on both sides of the gap from fully and equitably
reaping the benefits of the integration, and in turn hinder the entire ASEAN from reaching its full development
potential.

Technology holds a crucial role in narrowing the gap between the Southeast Asian nations, particularly
in how its advancement generates boundless opportunities for the region in terms of foreign direct investment,
human capital, and physical capital. Endogenous growth theories have proven that technology is essential to
long-term economic growth. The growth of output per worker is determined by the rate of technological
progress (Solow & Swan, 1956). Rising productivity is the key to making a possible increase in the standard of
living and long-term economic growth (Goman, n.d.). This allows access to physical infrastructure which
improves access to markets and basic services, and further increases growth and employment opportunities
(McGillivray, 2013). Therefore, to achieve modernity, the focus should be shifted toward technology, as it does
not only boost the areas that the IAI work plan
3
focuses on, but also addresses the new areas such as Human
Resources Development (HRD), poverty, and quality of life.

In light of all this, the current challenge for the government is to provide constitutional or structural
reforms that will allow the smooth synchronization and modernization of each region in order to achieve
equitable economic development. Competition policies, sustainable energy, health, and Information &
Communications Technology (ICT) are some of the areas that the local and national government could explore.
By narrowing the development gap, Southeast Asian nations can find a modern economy within reach as they
reap the full benefits of integration. Hence, this year s YEC convention series aims to hone the youth as future
policy makers through an in-depth understanding and active participation in assessing the current technological
progress of the region, providing policies, and giving light to the opportunities associated to the modernization
of the Southeast Asian Nation.


!!!!!!!!!!!!!!!!!!!!!!
1
CLMV. Pertains to Cambodia, Lao PDR, Myanmar, and Viet Nam.
2
According to a presentation by Deakin Universitys Professor Mark McGillivray in the Narrowing the ASEAN Development Gap: Drivers and Policy Options. This was presented on the ASEAN-Australia
Development Cooperation Program Phase II.
3
The Initiative for ASEAN integration (IAI) was launched by ASEAN head of states in 2000 with the objectives of accelerating the economic integration of the CLMV
2
countries and Narrowing the
Development Gap (NDG). The IAIs work plan have 4 major areas - Infrastructure, Human Resources Development (HRD), Regional economic Integration, and Information and Communications
Technology (ICT).







NCR Regional Theme
A Soari ng Powerhouse: Enhanci ng Possi bi l i ti es of the Phi l i ppi ne Fi nanci al System

The readiness of the Philippine financial system has lately become a crucial issue in discussions
concerning the upcoming ASEAN Economic Integration. According to Diwa Guinigundo, the Deputy Director on
Monetary Stability of the Banko Sentral ng Pilipinas, the capital base of the Philippine Banking System is only
about the same size of a single Singaporean Bank. In a forum held by financial executives last July 2013, they
pointed out that the Philippine Financial Industry will not be ready for the ASEAN Integration by 2015 (Burgonio &
Miel, 2013). Moreover, Nestor Tan, the President of Banco de Oro Unibank Inc., mentioned that the integration is
more of a threat for local lenders and the size of local banks will be a handicap when competing with banks
from the ASEAN member countries. This signals that the Philippine Financial System is lagging behind other
major ASEAN economies.

With the National Capital Region (NCR) being the center of the country s economic affairs,
strengthening the financial system may be necessary in order to fill the financial gap with the other ASEAN
economies. Aside from creating a conducive environment for investment, the focus should also be on
improving the financial system in terms of technology and information organizations. This is due to superior
analytics and database technologies being critical areas for banks to provide customer centric products and to
anticipate their financial needs (Banking Technology, 2014). Investments in Stock Exchange Technology will also
be an avenue to increase trading capabilities and offerings of the financial market which will make the market
more competitive internationally.

With the 2015 deadline fast approaching, the pressure for the country to be more competitive is
building up and it is apparent that there is a need for the Philippine financial system to step up. Certainly, all
stakeholders of the local financial sector will have a huge role to play in such endeavor. Local financial firms
and policy-makers must adopt a forward looking mentality and courageously face the strengthened competition
that is expected to ensue once foreign firms becomes active in the local financial sector. After all, competition
could bring out the best in the stakeholders of the country s financial system and help them formulate concrete
steps that could make the Philippines a soaring powerhouse in the area of financial development.






Source:
Banking Tech. (2014). Predicting the future in financial services. Retrieved from Baking Technology Website:
http:""www.bankingtech.com"203462"predicting-the-future-in-financial-services".
Burgonio, M., & Miel, L. (2013). Philippine financial industry not ready for asean integration by 2015, execs say. Retrieved
from http:""www.interaksyon.com"business"67041"philippine-financial-industry-not-ready-for-asean-
integration-by-2015-execs-say.









The Young Economists Convention # Outstanding Research Paper Competition is a competition that
allows budding young economists to share their insights and be recognized for excellent research. It is
organized with the main thrusts of initiating critical thinking among young economists and improving student
research for policy development in the interest of nation building. This can be achieved by recognizing
exemplary student research, providing growth mechanisms that allow researchers to improve their work, and
establishing channels through which such work is translated into informed action.

Obj ecti ves:

1. To raise awareness on relevant economic issues and initiate critical thinking by inviting students to
research and share insights on the convention theme.
2. To improve economic research for policy development by providing growth mechanisms such as
technical seminars for young researchers to improve their work.
3. To contribute to society and allow research to be turned into informed action by distributing exemplary
student research and by inspiring young economists to grow holistically as members of society.

Qual i ty and El i gi bi l i ty:

Groups of one (1) to four (4) students are eligible to join the competition, provided that members that comprise
the group meet the following requirements:

a. They must be students of a college or university in the region, enrolled or previously enrolled (the
term"semester before) under an undergraduate Economics or other business-related program;
b. They must have taken at least six (6) units of economics subjects; and
c. They must possess good moral character.







Screeni ng and Sel ecti on Process:

Regional Conventions

All aspiring groups shall enter the competition through the regional convention held in their respective
regions: Luzon, National Capital Region (NCR), Visayas, and Mindanao. Submissions must be made before the
deadline set by each convention organizing committee. Upon screening by the committee, they will be invited to
present their work during the regional convention. A regional winner will be selected to represent the region in
the Main Convention to be held at the end of the academic year. Before the event, the winning group from each
region may attend technical workshops held by the Economics Organization in De La Salle University to
improve their work before the international round.

8
th
International Conference

The 8
th
International Conference, held at the end of the academic year, shall hold the international
round of the Outstanding Research Paper Competition. The regional winners shall present their papers together
with the accepted international round papers and the screening will be done by the Research Committee of the
Organization. The International winner shall be selected out of the international round entries who shall present
their work at the Main Convention held in De La Salle University # Manila.

Young Economists Journal (YEJ)

The research papers of the regional winners are given a chance to be published in an issue of the YEJ
subject to a screening process by the YEJ organizing committee. The national winner will be published in an
issue of the YEJ along with selected submitted works from outstanding students in the Philippines.







Appl i cati on Requi rements:
The application and requirements for entering the regional rounds are as follows:

1. Abstract of the research paper;
2. Research paper, including references in APA format:
a. Entries may be term papers, working papers, theses, or dissertations that are at most 18
months old. (Entries that are more than 18 months may be accepted depending on the quality, importance,
timeliness, and relevance of the topic.)
3. The full text or executive summary of the research paper with the following requirements:
a. Introduction
b. Theoretical " Conceptual Framework
c. Methodology
d. Results and discussions
e. Conclusion
f. Policy recommendations and implications
The research paper may have been used in course requirements subject to their respective
institutions policies. However, i t must be the ori gi nal work of al l members of the group.
Pl agi ari zed works wi l l be rej ected i mmedi atel y. Concept papers without results can be
submitted; however, they must be completed upon presentation date.
4. Letter of endorsement from a professor, department chair, dean, or president of the institution
represented by the group, attesting to their enrolment in Economics or business-related degree
program.
5. Participation and presentation in the regional convention for the region in which the groups college or
university is located.
6. Research Papers must be related to the yearlong theme and must fall under any JEL Classification.
7. Entries with the application requirements must be e-mailed to
youngeconomistsconvention@gmail.com.
















Cri teri a for Judgi ng:
Judges shall be research experts with no shared institutional affiliation with any contestants, and the criteria
shall be as follows:

CR I TER I A
Grade Wei ght
Qual i t y o f R esearch Out put
30%
Is it relevant to current issues surrounding the convention theme?
5
Does it take from previous research and clearly outline agenda for future research?
5
Does it present relevant, useful, and practical implications and information?
5
Does the paper analyze rather than merely describe?
5
Co nsi st ency o f R esearch Obj ect i ve wi t h t he Framewo rk and Met ho do l o gy
25%
Do the researchers present a clear and rational framework?
5
Does such a framework explain the phenomena or pursue the research objectives?
5
Does the method appropriately and accurately test the framework?
5
Qual i t y o f Wri t i ng
20%
Are the sources used well and cited properly?
5
Does the paper make statements grounded on facts as opposed to personal opinion?
5
Does the paper possess coherence and adherence to grammatical rules?
5
Is the significance of the paper clearly outlined in the paper?
5
Overal l Assessment and Organi zat i o n
15%
Do the researchers present their objectives, arguments, framework, methodology, and results in
a clear and logical manner?
5
Is the reader able to follow the thought process and see how the researchers arrived at their
conclusions from the evidence?
5
Quest i o n & Answer ( t o be do ne duri ng Co nvent i o n)! 10%
Were the question(s) answered completely and comprehensively?
5

Are the members of the group familiar and have relative mastery of their paper and subject
matter?
5

!Only applicable to selected and presenting papers; shall be done after each presentation at the regional convention, during the open forum
session.






Grants:
Winners of the regional and national rounds shall receive the following awards in recognition of their
exemplary work:


Regional Winners

Certificates of Recognition
Medals and"or a Trophy
P5,000 Cash Grant$ for the group
Invitation to the Main Convention to compete in the international
round
Possible publication in the Young Economists Journal


International Winner

Certificates of Recognition
Medals and"or a Trophy
P5,000 Cash Grant$ for the group
Publication in the Young Economists Journal
Possible Endorsement$$ for further publication in the AKI Policy
Briefs circulated to various government agencies







!Cash grants are not given immediately during the event, but are given on the date of the Main Convention
upon presentation in the national round. In the event that the group is unable to attend the national round, it will
be wired to them on the Main Convention date. This is to facilitate the documentation and justification process
required in the disbursement of funds from the YEC s accounts. The Main Convention grant is given within 2
weeks after Main Convention date. Information on bank accounts and other personal information may be
required to facilitate the transfer. It is also contingent on providing a final draft for publication in the Young
Economists Journal.

!! Endorsement to the DLSU Angelo King Institute for publication in the AKI Policy Briefs, which are circulated
to various government agencies in the country, is done by the Commission. This shall be subject to the results
of the Angelo King Institute s own screening process. A policy brief is a 1700 word summary of the paper
focusing on the policy implications of the paper and is required for consideration, in addition to the abstract and
full paper.







I nformati on and Other Concerns:

Information on convention dates, winners, technical seminars, as well as other concerns are regularly
posted on the YEC website, www.theyoungeconomists.org, and through other social media accounts such as
the official Facebook page, www.facebook.com"theYECdlsu, and the twitter account,
www.twitter.com"theYECdlsu. Concerns may be forwarded to the YECs e-mail address at
youngeconomistsconvention@gmail.com.

I mportant Dates to Remember:

October 27, 2014- November 09, 2014 Submission period
November 10, 2014- December 28, 2014 Judging period
December 02, 2014-10-25 NCR Regional Convention