Raul V. Fabella

Raul V. Fabella (born 12 April 1949, Bacolod City, Negros Occidental, Philippines) is a Filipino academic, economist and National Scientist of the Philippines.

Fabella was educated at the Seminario Mayor-Recoletos (Ph.B. 1970); the University of the Philippines School of Economics (M.A. 1975); and Yale University (Ph.D. 1982). His entire academic career has been spent with the faculty of the University of the Philippines School of Economics (UPSE), which he served as dean from 1998 to 2007.

Fabella has written articles in both theoretical and applied fields: political economy and rent-seeking; the theory of teams; regulation; international economics; and mathematical economics. Notable concepts associated with him are the “Olson ratio” in rent-seeking, egalitarian Nash bargainng solutions, and the debt-adjusted real effective exchange rate.

In public-policy debates he has been a prominent advocate of a policy of currency undervaluation as a tool of development.

Fabella was elected to the National Academy of Science and Technology (NAST) in 1995. Upon endorsement by NAST, he was awarded the title of National Scientist by President Benigno C. Aquino on 27 July 2011. The National Scientist title is the highest recognition given by the Philippine Government to a Filipino for his or her outstanding contributions to science and technology.

References

• Fabella, R. [1991] "Rawlsian Nash solution", Theory and Decision 30:113-126.
• Fabella, R. [1996] "The Olson ration and indirectly endogenous rent" Public Choice 89:325-337.
• Fabella, R. [1998] "The debt-adjusted real exchange rate", Journal of International Money and finance 15(3):475-484.