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Institutional constraints on Philippine growth

  • Emmanuel S. de Dios

    (School of Economics, University of the Philippines)

After a review of the institutional economics literature, time- series evidence is presented to show that recent Philippine economic growth has been hindered by institutional weaknesses. In particular, variables representing political instability and corruption are seen to have significantly affected the investment ratio. A historical analysis traces the origins and persistence of these problems to deeper questions of constitutional legitimacy, unstructured rivalry among elites, and weak support for formal institutions owing to preexisting economic inequality.

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Article provided by University of the Philippines School of Economics and Philippine Economic Society in its journal Philippine Review of Economics.

Volume (Year): 48 (2011)
Issue (Month): 1 (June)
Pages: 71-124

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Handle: RePEc:phs:prejrn:v:48:y:2011:i:1:p:71-124
Contact details of provider: Postal: Diliman, Quezon City 1101
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Web page: http://www.econ.upd.edu.ph/
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