Notwithstanding its sometimes negative international image, the Philippine economy has been performing well in recent years. The country is currently experiencing its longest period - five years - of uninterrupted positive per capita economic growth since the 1970s. The key to the recent success is that, since the deep economic and political crisis of 1985-86, the reformers have been able to enact and institutionalize enough major policy victories to satisfy the business community that they are a more or less permanent feature of the country’s political economy architecture. Two in particular stand out: an independent and high quality central bank, BSP, ensuring that monetary and exchange rate policy continue to function effectively, and trade policy reform that has resulted in a much more open economy. Against this backdrop, we examine the recent growth record, and link it to macroeconomic management, trade policy, microeconomic reform and governance. We also examine social indicators, drawing attention to the recent and puzzling disconnect between trends in economic growth and poverty, and to the large regional disparities in poverty incidence.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by Australian National University, Economics RSPAS in its series Departmental Working Papers with number
2008-17.
Find related papers by JEL classification: N15 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - Asia including Middle East O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
This paper has been announced in the following NEP Reports:
Did you know? All full texts are decentralized with the publishers, none reside on this server, thus making it possible to offer this service for free to all parties.