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Institutional constraints on Philippine growth

Author

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  • Emmanuel S. de Dios

    (School of Economics, University of the Philippines)

Abstract

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.

Suggested Citation

  • Emmanuel S. de Dios, 2011. "Institutional constraints on Philippine growth," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 48(1), pages 71-124, June.
  • Handle: RePEc:phs:prejrn:v:48:y:2011:i:1:p:71-124
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/661/767
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    References listed on IDEAS

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    1. Daniel Kaufmann & Aart Kraay, 2008. "Governance Indicators: Where Are We, Where Should We Be Going?," World Bank Research Observer, World Bank Group, vol. 23(1), pages 1-30, January.
    2. Llanto, Gilberto M. & Gonzalez, Eduardo T., 2007. "Policy Reforms and Institutional Weaknesses: Closing the Gap," Discussion Papers DP 2007-07, Philippine Institute for Development Studies.
    3. Emmanuel S. de Dios & Geoffrey M. Ducanes, 2013. "Institutions and governance," Chapters,in: Asia Rising, chapter 2, pages 49-75 Edward Elgar Publishing.
    4. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    5. Gilberto M. Llanto & Eduardo T. Gonzalez, 2007. "Policy Reforms and Institutional Weakness : Closing The Gap," Governance Working Papers 21927, East Asian Bureau of Economic Research.
    6. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, June.
    7. Kenneth L. Sokoloff & Stanley L. Engerman, 2000. "Institutions, Factor Endowments, and Paths of Development in the New World," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 217-232, Summer.
    8. Robert H. Nelson, 2004. "Scholasticism versus Pietism: The Battle for the Soul of Economics," Econ Journal Watch, Econ Journal Watch, vol. 1(3), pages 473-497, December.
    9. Aron, Janine, 2000. "Growth and Institutions: A Review of the Evidence," World Bank Research Observer, World Bank Group, vol. 15(1), pages 99-135, February.
    10. Gilberto Llanto & Eduardo Gonzalez, 2007. "Policy Reforms and Institutional Weaknesses - Closing the Gap," EABER Working Papers 21872, East Asian Bureau of Economic Research.
    11. Raul V. Fabella & Emmanuel S. de Dios, 2007. "Lacking a backbone : The controversy over the National Broadband Network and Cyber-education projects," UP School of Economics Discussion Papers 200707, University of the Philippines School of Economics.
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    Citations

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    Cited by:

    1. repec:ilo:ilowps:486999 is not listed on IDEAS
    2. Yap, Josef T. & Cuenca, Janet S. & Reyes, Celia M., 2009. "Impact of the Global Financial and Economic Crisis on the Philippines," Discussion Papers DP 2009-30, Philippine Institute for Development Studies.
    3. Jeffrey G. Williamson & Emmanuel S. de Dios, 2014. "Has the Philippines forever lost its chance at industrialization?," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 51(2), pages 47-66, December.
    4. Florian A. Alburo, 2015. "Development Dynamics in the Philippines Historical Perspectives: 1950-2010," UP School of Economics Discussion Papers 201514, University of the Philippines School of Economics.
    5. Yap, Josef T. & Abad, Anthony R.A. & Gonzales, Kathrina G. & Rosellon, Maureen Ane D., 2012. "Unfair Trade Practices in the Philippines," Discussion Papers DP 2012-39, Philippine Institute for Development Studies.
    6. Yap, Josef T. & Majuca, Ruperto P., 2013. "Aspirations and Challenges for Economic and Social Development in the Philippines Toward 2030," Discussion Papers DP 2013-27, Philippine Institute for Development Studies.
    7. Karl Robert L. Jandoc, 2011. "La Liga Filipina: Rizal and institutional change," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 48(2), pages 151-182, December.
    8. Maureen Ane D. Rosellon & Josef T. Yap, 2010. "The Role of the Private Sector in Regional Economic Integration : a View from the Philippines," Governance Working Papers 23107, East Asian Bureau of Economic Research.
    9. Yap, Josef T., 2014. "ASEAN Community 2015 : managing integration for better jobs and shared prosperity in the Philippines," ILO Working Papers 994869993402676, International Labour Organization.
    10. Yap, Josef T. & Rosellon, Maureen Ane D., 2010. "The Role of the Private Sector in Regional Economic Integration: a View from the Philippines," Discussion Papers DP 2010-23, Philippine Institute for Development Studies.

    More about this item

    Keywords

    growth; investment; institutions; corruption; political economy; Philippines;

    JEL classification:

    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East

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