Claire Dennis S. Mapa

Field of award: Economics

Year awarded: 2008

Division: Social Sciences


In recognition of his significant research contributions to the areas of empirical economic growth analysis and financial econometrics, considered as highly empirical disciplines and a domain of relatively few researchers.  His paper, “Range-Based GARCH Models for Forecasting Financial Volatility” has introduced a relatively simple but efficient model to describe volatility using intra-daily returns that is very useful in estimating the so-called Value-at-Risk (VaR), an important measure in market risk. His work on financial volatility paved the way for the School of Statistics to offer courses on Financial Econometrics in the undergraduate and graduate programs that he himself designed and developed.  He has also shown in his other papers that the Philippines is paying a high price for its high population growth rate resulting in low economic growth and in constricting poverty reduction efforts.