Why has the Philippines remained a poor country? : some perspectives from growth economics
Why has the living standard of the Philippines relative to that of the United States not risen unlike its Asian neighbors? Applying a simple neoclassical model and some empirical methods of analysis employed in growth economics on data on national income accounts and the workforce from the Penn World Table (version 6.1) and years of schooling from Barro and Lee , this paper submits three interconnected answers: The country has been stuck in a low-growth trajectory. It is headed for a low steady-state level of output per worker, which explains its slow pace of long-term growth. Most significantly, its total-factor productivity, at 20.9 percent of that of the United States, is horrendously low, which explains its low convergence point. Improving its total-factor productivity is thus the key to solving the country’s low living standard.
Volume (Year): 44 (2007)
Issue (Month): 2 (December)
|Contact details of provider:|| Postal: Diliman, Quezon City 1101|
Web page: http://www.econ.upd.edu.ph/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:phs:prejrn:v:44:y:2007:i:2:p:1-31. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Reuben T. Campos)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.