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Asia's Underachiever: Deep Constraints in Philippine Economic Growth

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Author Info
Briones, Roehlano M.

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Abstract

Numerous studies have tried to explain the poor growth performance of the Philippines. This paper critically reviews related literature on constraints to long-run growth, as it applies to the Philippines. We evaluate several factors, namely: culture, corruption, and institutions. The last offers the most convincing explanation for mediocre growth. Hence, to raise the country’s growth trajectory, I recommend: sustained policy reform; less hand-wringing over Filipino culture and corruption; and above all, focused and sustained development of functional capitalistic institutions.

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File URL: http://dirp4.pids.gov.ph/ris/dps/pidsdps0904.pdf
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Publisher Info
Paper provided by Philippine Institute for Development Studies in its series Discussion Papers with number DP 2009-04.

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Length: 19
Date of creation: 2009
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Handle: RePEc:phd:dpaper:dp_2009-04

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Related research
Keywords: Philippines; development; institutions; growth constraints;

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  1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October. [Downloadable!] (restricted)
  2. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September. [Downloadable!] (restricted)
  3. Frederic L. Pryor, 2005. "National Values and Economic Growth," American Journal of Economics and Sociology, Blackwell Publishing, vol. 64(2), pages 451-483, 04. [Downloadable!] (restricted)
  4. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, vol. 9(3), pages 271-303, 09. [Downloadable!]
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  5. Sjoerd Beugelsdijk & Henri L.F. de Groot & Anton B.T.M. van Schaik, 2004. "Trust and economic growth: a robustness analysis," Oxford Economic Papers, Oxford University Press, vol. 56(1), pages 118-134, January.
  6. Douglass C. North, 1993. "The New Institutional Economics and Development," Economic History 9309002, EconWPA. [Downloadable!]
  7. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472 Elsevier. [Downloadable!] (restricted)
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This page was last updated on 2009-11-15.

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