SERP-P Application Programming Interface (API)

The SERP-P API is a REST based Web service that can be accessed and executed by a standard HTTP request. The result or output of the SERP-P API is in the Javascript Object Notation (JSON) format.

Sample JSON Output:
{"total_rows":8,"update_seq":4746,"offset":0,"rows":[ {"id":"4619","key":"BSP 2006-03","value":{"title":"The Development and Implementation of a Uniform Set of Performance Standards for All Types of Microfinance Institutions in the Philippines","abstract":"This essay discusses the development of the P.E.S.O standard. It states that:\r\n\r\n * PESO is the acronym for key factors in microfinance operations - portfolio quality, efficiency, sustainability and outreach.\r\n * The P.E.S.O standard creates a set of uniform performance standards applicable to all microfinance institutions (MFIs) to address issues such as:\r\n o Portfolio quality;\r\n o Efficiency of operations;\r\n o MFI sustainability;\r\n o Efforts at outreach.\r\n * Application of the standards will facilitate analysis of MFI performance providing meaningful comparisons across different institutional types.\r\n\r\nThe essay:\r\n\r\n * Provides an overview of microfinance in the Philippines, discussing:\r\n o Policy initiatives;\r\n o The current trend to commercialize microfinance.\r\n * Discusses the infrastructural needs of the microfinance industry, looking at:\r\n o The regulatory framework for MFIs;\r\n o Performance standards.\r\n * Discusses the P.E.S.O. standard as a uniform set of performance standards for all types of MFIs, examining:\r\n o The process of creation and bases for standards;\r\n o Institutional criteria that will measure the financial institution's practices, performance and condition, while also demonstrating the institution's capacity and readiness to undertake microfinance operations.\r\n\r\nThe essay lists challenges and future issues in the adoption of the PESO as the industry benchmark, and concludes by stressing on the increase in private sector involvement in the microfinance industry as the main opportunity for growth of the industry.","url":"http://serp-p.pids.gov.ph/serp-p/details.php?pid=4619","authors":["Almario, Joselito","Jimenez, Eduardo","Roman, Pia Bernadette"],"keywords":["microfinance","microfinance institutions","microenterprises"],"date_published":"2006","available_at":"BSP","type":"Compendium/Digest","institution":"Bangko Sentral ng Pilipinas"}}, {"id":"4207","key":"BSP WPS 2006-01","value":{"title":"Bangko Sentral ng Pilipinas Modernization: A Policy Perspective","abstract":"Now more than ever, central banks must arm themselves with the capacity to read financial markets and their correlations with the real economy and with the necessary physical infrastructure to efficiently and effectively conduct market transactions and assess their impact on central bank financial statements. Meanwhile, even though profit maximization is not the primary objective of a central bank, keeping an eye on its bottomline is considered necessary because, at the end of the day, its independence rests on it ability to generate financial resources\r\nindependent of congressional appropriation. For its part, the Bangko Sentral ng Pilipinas has embarked on activities to enhance its capabilities to investigate and quantify the impacts of economic realities on the transmission mechanism of monetary policy actions to the real economy and to come up with policy prescriptions that will strengthen BSP","url":"http://serp-p.pids.gov.ph/serp-p/details.php?pid=4207","authors":["Bagsic, Cristeta B.","Glindro, Eloisa T."],"keywords":["monetary policy","Bangko Sentral ng Pilipinas","policy research","policy formulation","policy development process"],"date_published":"2006","available_at":"BSP Library","type":"Working Paper","institution":"Bangko Sentral ng Pilipinas"}}, {"id":"4206","key":"BSP WPS 2006-02","value":{"title":"Modeling the Impact of Modeling the Impact of Modeling the Impact of Philippine Economy: An Inter-Regional and Economy-Wide Approach","abstract":"Remittance inflows to the Philippines have increased substantially as the stock of overseas workers has grown and shifted towards more skilled jobs. Thus, second to\r\nexports of goods and services, remittances have become the largest foreign exchange source for the Philippines. Past studies of the impact of remittances on the economy have relied either on econometric estimations, which yield partial equilibrium estimates, or survey approaches. This paper uses an economy-wide (general equilibrium) approach that allows for interactions between all major sectors\r\nin the economy, while ensuring consistency of results. A major feature of the paper is its inter-regional approach, which gives a spatial dimension to the analysis.\r\n\r\nThe basis of the approach is the social accounting matrix (SAM). A three-level production function, is specified - Cobb-Douglas between labor and capital to produce value added, then Leontief between non-transport inputs and value added to produce output net of transport, which is then combined with transport inputs finally using a Cobb-Douglas production function. Capital and labor incomes accrue to\r\nhouseholds, which then goes to consumption and saving, with a constant marginal propensity to consume. Overseas remittances enter as transfer payments to households. Consumption is divided among different commodities using a Cobb-Douglas utility function. Final demand is then built up in a standard way.\r\n\r\nEmpirical results indicate that, in absolute terms, the main beneficiaries of remittance increases are the middle-income classes across all regions. The second major beneficiaries are the low income households, again for all regions, with the notable exception of the National Capital Region, where the high-income households are the second highest beneficiary of remittances. The paper highlights the data\r\nrequirements for the modeling approach, which is instructive for emerging economies in similar situations.","url":"http://serp-p.pids.gov.ph/serp-p/details.php?pid=4206","authors":["Goce-Dakila, Cristela","Dakila, Francisco G., Jr."],"keywords":["remittances","social accounting framework"],"date_published":"2006","available_at":"BSP Library","type":"Working Paper","institution":"Bangko Sentral ng Pilipinas"}}, {"id":"4205","key":"BSP WPS 2007-01","value":{"title":"Output Gap Estimation for Inflation Forecasting: The Case of the Philippines","abstract":"This paper examines alternative estimation models for obtaining output gap measures for the Philippines. These measures are combined with the rates of growth of broad money, nominal wages and oil prices for forecasting inflation. We find that models which combine these leading indicators in a nonlinear way outperform other linear combinations of these variables for out-of-sample forecasting performance.","url":"http://serp-p.pids.gov.ph/serp-p/details.php?pid=4205","authors":["McNelis, Paul D.","Bagsic, Cristeta B."],"keywords":["inflation","output gap"],"date_published":"2007","available_at":"BSP Library","type":"Working Paper","institution":"Bangko Sentral ng Pilipinas"}}, {"id":"4204","key":"BSP WPS 2007-02","value":{"title":"Identifying the Determinants of Overseas Filipinos' Remittances: Which Exchange Rate Measure is Most Relevant?","abstract":"The study considers which exchange rate measure is the most relevant determinant of overseas Filipinos (OF) remittances. The study employs a microeconomic framework (involving a utility maximizing household) to help form the basis for\r\nselection of variables to be included in the estimations. Different versions of the vector autoregressions (VARs), which vary by the particular exchange rate measure\r\nutilized, were estimated to quantify the impacts of the major influences on OF remittances. An OF deployment-based effective exchange rate index was constructed in the study which proved to be a significant predictor of the movement\r\nof OF remittances. Moreover, an incidental but significant finding of the study is the procyclical nature of OF remittances.","url":"http://serp-p.pids.gov.ph/serp-p/details.php?pid=4204","authors":["Dakila, Francisco G., Jr.","Claveria, Racquel A."],"keywords":["remittances","Overseas Filipino Workers (OFWs)"],"date_published":"2007","available_at":"BSP Library","type":"Working Paper","institution":"Bangko Sentral ng Pilipinas"}}, {"id":"4335","key":"BSP WPS 2008-01","value":{"title":"Forecasting the Volatility of Philippine Inflation Using GARCH Models","abstract":"The study highlights the statistical procedure employed in developing a shortterm forecasting model that explores the volatility feature of Philippine inflation from 1995 up to August 2007. To build such a model, we identify first the stationary series. Second, we specify the Autoregressive Moving Average (ARMA)model then include the Seasonal ARMA (SARMA) model if seasonality is present, to represent the mean component using the past values of inflation. Next, we incorporate the Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model to represent its volatility. Diagnostic tests and examination of forecast accuracy measures indicate that the specifications D(IR) (the first difference of month-on-month inflation) as the stationary series, AR(1) and SMA(12) for the mean,\r\nGARCH(0,1) or ARCH(1) for the variance with Student","url":"http://serp-p.pids.gov.ph/serp-p/details.php?pid=4335","authors":["Ramon, Haydee L."],"keywords":["inflation"],"date_published":"2008","available_at":"BSP Library","type":"Working Paper","institution":"Bangko Sentral ng Pilipinas"}}, {"id":"4446","key":"BSP WPS 2008-02","value":{"title":"Adjustments in the Face of Peso Volatility: Perspective from the Past and Policy Directions","abstract":"This paper examines the volatility of economy-wide and industry-specific peso exchange rates during the period 1998-2006, and assesses the impact of such volatility on the profitability of a sample of listed Philippine banks and corporate firms. Our regression results provide evidence that volatility in foreign exchange rates affect the profitability of firms. Furthermore, there are gains in explanatory power when industry exchange rates are used instead of aggregate exchange rates as an explanatory variable for stock price return. Our results also show that the operations and risk management systems in place in different firms are sufficiently heterogenous to the extent that the impact of foreign exchange volatilities in their\r\nprofitability differs across sectors and even among firms within a sector. These results suggest that there is no one-size-fits-all foreign exchange policy, and a firm or\r\na sector might be negatively affected by foreign exchange developments even as other sectors of the economy benefit. This implies that initiatives from policymakers\r\nthat encourage the development of risk management mechanisms become necessary conjugates to policies aimed at making the foreign exchange market more efficient.","url":"http://serp-p.pids.gov.ph/serp-p/details.php?pid=4446","authors":["Yap, Agnes M.","Bagsic, Cristeta B."],"keywords":["foreign exchange"],"date_published":"2008","available_at":"BSP","type":"Working Paper","institution":"Bangko Sentral ng Pilipinas"}}, {"id":"4621","key":"BWTP 2005-01","value":{"title":"Case Study on Philippines: Electronic Banking: Delivering Microfinance Services to the Poor in the Philippines","abstract":"This paper argues that efficient and cheaper methods of providing financial services, such as electronic banking (e-banking) services should also be offered to microfinance clients. The paper:\r\n\r\n * Presents an overview of the microfinance industry in the Philippines, as well as the recent developments of commercialization, competition and innovations in microfinance products and service delivery.\r\n * Presents the following two cases of existing models wherein technological innovations of electronic banking are used to serve microfinance clients:\r\n o The use of mobile telephones through the \u00e2","url":"http://serp-p.pids.gov.ph/serp-p/details.php?pid=4621","authors":["Jimenez, Eduardo","Roman, Pia Bernadette"],"keywords":["microfinance","microfinance institutions","financial services","E-banking"],"date_published":"2005","available_at":"BWTP","type":"Research Paper","institution":"Bangko Sentral ng Pilipinas"}} ]}

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