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Growth and employment in de-industrializing Philippines

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  • Rene E. Ofreneo

Abstract

The Philippines was rated in the early 1960s by the World Bank as second only to Japan in Asia's industrialization race. In the 1970s–1990s, the Philippines pursued export-oriented industrialization (EOI). However, the Philippines’ industrial drive failed to take off and we trace this failure to the narrow program of EOI that Philippines pursued with the support of international financial institutions, which was myopic because it simply focused on how to open up the economy without a focus on industrial upgrading. There were no value-adding linkages with the domestic economy, home-grown export champions, program for upgrading and infrastructure and support institutions for national producers. The failure is due to the absence of systemic governance and policy coherence. Nonetheless, the Philippines has posted positive growth rates in recent decades, due largely to remittances of Filipino migrant but has helped transform the country into a service-sector-led economy without passing through industrial transformation.

Suggested Citation

  • Rene E. Ofreneo, 2015. "Growth and employment in de-industrializing Philippines," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 20(1), pages 111-129, January.
    • Handle: RePEc:taf:rjapxx:v:20:y:2015:i:1:p:111-129
    DOI: 10.1080/13547860.2014.974335
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    1. AfDB AfDB, . "Annual Report 2012," Annual Report, African Development Bank, number 461.
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    Cited by:

    1. Edo Andriesse, 2020. "Local Differentiation in Diversification Challenges in Eleven Coastal Villages in Iloilo Province, Philippines," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 32(3), pages 652-671, July.

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