Diwa C. Guinigundo - "Diwa"
DG Guinigundo served the Bangko Sentral ng Pilipinas (BSP) for 41 years, managing monetary policy and operations, international operations and regional cooperation, and other core functions. From 2001 to 2003, he was Alternate Executive Director at the IMF, and earlier (1992–1994), Head of Research at the SEACEN Research and Training Centre in Kuala Lumpur.
Within BSP, he chaired the Monetary Policy Strategy Committee, vice-chaired the Investment Management Committee and Provident Fund, and represented the institution in various cabinet-level boards and interagency bodies including the NEDA Board and the Development Budget Coordination Committee.
An AB Economics cum laude graduate at the UP School of Economics, he obtained his M.Sc. in Economics from the London School of Economics as a central bank scholar. He also taught economics at UP Manila and St. Scholastica’s College.
Currently, he writes a weekly BusinessWorld column, sits on the Advisory Panel of Singapore Management University’s Sim Kee Boon Institute for Financial Economics, and advises International Care Ministries. He is external advisor to Bain & Company, and independent director of AIA Philippines Investment Management and Trust Corporation, MacroAsia Corporation, and Malayan Savings Bank. He has also been a resource expert for the Asian Development Bank.
Since October 2023, he has served as principal advisor for GlobalSource Partners in New York.
DG Guinigundo co-edited Trauma to Triumph (AMRO, 2021–2022) and Redefining Strategic Routes to Financial Resilience in ASEAN+3 (ADB), contributed to Stratbase ADRI’s Beyond the Crisis, and co-authored Economic Adjustment and Growth: Theory and Practice (2023). He was among the authors of Not in Our Watch: Martial Law Really Happened and SERVE.
Email: dcguinigundo@yahoo.com
Column @BusinessWorld
Column @Manila Bulletin
BOOK 1
Economic Adjustment and Growth: Theory and Practice
Delano S. Villanueva, Roberto S. Mariano and Diwa C. Guinigundo
This book focuses on conceptualizing the process of economic adjustment and growth, and testing it with empirical methods. The critical components of a successful economic growth strategy include physical, financial, and educational infrastructures supported by macro-financial stabilization policies and structural reforms. With this in mind, the authors begin with a review of the neoclassical growth model, before delving into more specialized topics such as endogenous growth, adaptive inflationary expectations, learning by doing, optimal saving, and sustainable foreign debt. The final chapter presents Philippines as a case study, and narrates the evolution of a successful strategy of adjustment and growth practiced by an emerging market economy that had shown stellar pre-pandemic growth performance, low and stable inflation, and a sustainable external current account position.
This book consists of twelve chapters, covers both closed and open economies, and discusses the neoclassical theory of economic adjustment and growth and its econometric testing, as well as its practice in a country case study (The Philippines). It provides theoretical and practical support to the International Monetary Fund (IMF) approach to economic stabilization.
For more information, see: Website of Dan Villanueva
BOOK 2
Trauma to Triumph: Rising from the Ashes of the Asian Financial Crisis
Diwa C. Guinigundo, Hoe Ee Khor, Masahiro Kawai
The book is the first of its kind to compile comprehensive recollections of the major players during the AFC and the GFC, including country-level narratives on the causes and developments of the crises, and measures to overcome them. The book not only presents an analytical and deeper examination of country experiences during both crises, but also assesses the two crises and covers the lessons learnt from the crises, particularly with a focus on the development of regional financial cooperation. The book concludes with regional financial cooperation in retrospect, aiming to catalyze further discussions on the direction of the region’s financial cooperation.
For more information, see: AMRO Publication