Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines
AbstractThis paper proposes a model of endogenous economic growth and distribution explicitly incorporating social extraction and political competition, with an application to the Philippine historical experience. The major objective is to explain developments in the distribution of national income and wealth and in the growth rate of per capita capacity output. When calibrated, the proposed model is found to be consistent with the broad contours of Philippine macroeconomic history. The paper concludes with several policy implications for a successful strategy of economic development.
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Bibliographic InfoThis book is provided by South East Asian Central Banks (SEACEN) Research and Training Centre in its series Staff Papers with number sp57 and published in 1997.
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- Delano Villanueva, 1994. "Openness, Human Development, and Fiscal Policies: Effects on Economic Growth and Speed of Adjustment," IMF Staff Papers, Palgrave Macmillan, vol. 41(1), pages 1-29, March.
- Williamson, Jeffrey G, 1969. "Dimensions of Postwar Philippine Economic Progress," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 83(1), pages 93-109, February.
- Reinhart, Carmen & Ogaki, Masao & Ostry, Jonathan, 1996.
"Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison,"
6978, University Library of Munich, Germany.
- Masao Ogaki & Jonathan D. Ostry & Carmen M. Reinhart, 1996. "Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 38-71, March.
- Williamson, Jeffrey G, 1971. "Capital Accumulation, Labor Saving, and Labor Absorption Once More," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 85(1), pages 40-65, February.
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