The Bicol region is one of the poorest regions in the Philippines. In fact, it has the worst poverty situation in Luzon. It is also one of the most affected areas in the country in terms of armed conflict, which further exacerbates the poverty and underdevelopment within various communities in Bicol. This Notes shows that the price of the armed conflict in Bicol does not come cheap, with social, financial, and economic costs involved as well as some spillovers. Details are given in the Notes.
