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Has the Philippines forever lost its chance at industrialization?

Author

Listed:
  • Jeffrey G. Williamson

    (University of Wisconsin and Harvard University, UP School of Economics)

  • Emmanuel S. de Dios

    (UP School of Economics)

Abstract

After 1870, and long before the rise of the Asian Tigers and the group of emerging economies of Brazil, Russia, India, China, and South Africa, industrial output grew fast enough in the poor periphery to achieve unconditional convergence on the industrial leaders. The Philippines was part of the group of countries that caught up during the interwar and post-war import-substitution-industrialization years. It began to deviate from the pack after the 1970s, however, leaving the group in 1982, never to re-enter it. This paper examines the possible causes of what appears to have been a unique event. These cover political instability, institutional weaknesses, liberalization policy, labor emigration, and Dutch disease. Taken together, these forces created a Òperfect de-industrializing stormÓ, It seems likely that the Philippines has forever lost its chance at industrialization.

Suggested Citation

  • 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.
  • Handle: RePEc:phs:prejrn:v:51:y:2014:i:2:p:47-66
    as

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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/909/809
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    References listed on IDEAS

    as
    1. Robert E. Baldwin, 1975. "Appendices to "Foreign Trade Regimes and Economic Development: Philippines"," NBER Chapters,in: Foreign Trade Regimes and Economic Development: Philippines, pages 157-160 National Bureau of Economic Research, Inc.
    2. W. Max Corden, 2004. "Too Sensational: On the Choice of Exchange Rate Regimes," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262532697, March.
    3. 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.
    4. Aldaba, Rafaelita M., 2012. "Surviving Trade Liberalization in Philippine Manufacturing," Discussion Papers DP 2012-10, Philippine Institute for Development Studies.
    5. Emmanuel S. de Dios, 2013. "Skills, migration, and industrial structure in a dual economy," UP School of Economics Discussion Papers 201302, University of the Philippines School of Economics.
    6. repec:wbk:wbpubs:27344 is not listed on IDEAS
    7. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June.
    8. Baldwin, Richard & Robert-Nicoud, Frédéric, 2014. "Trade-in-goods and trade-in-tasks: An integrating framework," Journal of International Economics, Elsevier, vol. 92(1), pages 51-62.
    9. Rafaelita M. Aldaba, 2005. "The Impact of Market Reforms on Competition, Structure and Performance of the Philippine Economy," Trade Working Papers 22306, East Asian Bureau of Economic Research.
    10. Gene M. Grossman & Esteban Rossi-Hansberg, 2008. "Trading Tasks: A Simple Theory of Offshoring," American Economic Review, American Economic Association, vol. 98(5), pages 1978-1997, December.
    11. Robert E. Baldwin, 1975. "Foreign Trade Regimes and Economic Development: Philippines," NBER Books, National Bureau of Economic Research, Inc, number bald75-1, June.
    12. Emmanuel S. de Dios & Jeffrey G. Williamson, 2013. "Deviant Behavior : A Century of Philippine Industrialization," UP School of Economics Discussion Papers 201303, University of the Philippines School of Economics.
    13. World Bank, 2011. "World Development Indicators 2011," World Bank Publications, The World Bank, number 2315, June.
    14. Williamson, Jeffrey G., 2011. "Trade and Poverty: When the Third World Fell Behind," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262015158, March.
    15. Dani Rodrik, 2013. "Unconditional Convergence in Manufacturing," The Quarterly Journal of Economics, Oxford University Press, vol. 128(1), pages 165-204.
    16. Jeffrey G. Williamson, 2011. "Trade and Poverty: When the Third World Fell Behind," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262015153, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    industrial development; industrial structure; growth; deviant behavior; Philippines;

    JEL classification:

    • F1 - International Economics - - Trade
    • N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy

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