San Isidro, Leyte Public Market: An Economic Impact Analysis
Chapter I: Introduction
Background of the Study
San Isidro is a 4th class municipality in the province of Leyte, Philippines. Its number of population as of 2011 according to the Local Governance Performance Management System (LGPMS) is 19, 655. San Isidro is politically subdivided into 19 barangays with a total land area (in has) of 14, 254.12. San Isidro’s economic activities lie on agriculture, fishery, commercial and service centers, industrial and mining.
As part of its economic activity, commercial and service centers, the public market of San Isidro is apparently operating as a dynamic factor in the progress of the town. Long before the ample changes of the market, there were only a few businesses providing for the primary needs of both household and government individuals. And as to the transitional alterations of the whole picture of the market, little by little, it boosts the capabilities of small and medium enterprises of the municipalities as it is being opened to them a way to increase productivity and cater social assistances in the form of goods or services.
Public Market is a market, in public spaces, where independent merchants can sell their products to the public. Typical products sold at public markets include fresh produce, baked goods, locally raised meats and dairy products and various other food items and handcrafted goods. Public markets often emphasize foods, clothing, and artisanal products reflective of the ethnicities in their respective regions. They can also serve as popular venues for public events and busking. Public markets are distinct from farmers' markets in that they often feature imported goods.
That is why, I came up with the notion of creating a study as regards Public Market in San Isidro in a view of its history up to the present state. I am interested to its ability to help advance economic prosperity in the town.
Statement of the Problem
This research is designed to present and analyze the San Isidro, Leyte Public Market using an Economic Impact Analysis Approach.
Specifically, this research study aims to answer the following questions:
1.) What is the socio-economic profile of the municipality of San Isidro prior to the transitional changes of the Public Market?
2.) What are the socio-economic changes effected on the municipality of San Isidro as to the overall improvement of the Public Market in terms of the following?
a. LGU Perspectives
b. LGU Income
c. Local Business Registration
d. Socio-Economic Profile of Residents
3.) What is the impact of these socio-economic changes to the local economy of the municipality?
4.) What Local Development Policy and Strategy could be proposed to further improve the quality of the Public Market of San Isidro to attain a general socio-economic welfare?
Figure1. Conceptual Framework of the Study
The conceptual framework of this study (Figure 1) traces the impact of Public Market to the local economy of San Isidro. The schematic diagram above represents the independent variable which is the public market that has corresponding effects on the dependent variables that include LGU perspectives, income of the local government, local business registration and socio-economic profile of the residents. The study is undertaken using an economic impact analysis approach. Economic impact analysis (EIA) examines the effect of a policy, program, project, activity or event on the economy of a given area. The area can range from a neighbourhood to the entire globe. Economic impact is usually measured in terms of changes in economic growth (output or value added) and associated changes in jobs (employment) and income (wages).
The analysis typically measures or estimates the level of economic activity occurring at a given time with the project or policy...