Institutional constraints on Philippine growth
AbstractAfter a review of the institutional economics literature, time- series evidence is presented to show that recent Philippine economic growth has been hindered by institutional weaknesses. In particular, variables representing political instability and corruption are seen to have significantly affected the investment ratio. A historical analysis traces the origins and persistence of these problems to deeper questions of constitutional legitimacy, unstructured rivalry among elites, and weak support for formal institutions owing to preexisting economic inequality.
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Bibliographic InfoArticle provided by University of the Philippines School of Economics and Philippine Economic Society in its journal Philippine Review of Economics.
Volume (Year): 48 (2011)
Issue (Month): 1 (June)
growth; investment; institutions; corruption; political economy; Philippines;
Other versions of this item:
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
- N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East
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