Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines
This paper proposes a model of endogenous economic growth and distribution explicitly incorporating social extraction and political competition, with an application to the Philippine historical experience. The major objective is to explain developments in the distribution of national income and wealth and in the growth rate of per capita capacity output. When calibrated, the proposed model is found to be consistent with the broad contours of Philippine macroeconomic history. The paper concludes with several policy implications for a successful strategy of economic development.
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- Reinhart, Carmen & Ogaki, Masao & Ostry, Jonathan, 1995.
"Saving behavior in low- and middle-income developing countries,"
13757, University Library of Munich, Germany.
- Masao Ogaki & Jonathan D. Ostry & Carmen M. Reinhart, 1996. "Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 38-71, March.
- Masao Ogaki & Jonathan David Ostry & Carmen Reinhart, 1995. "Saving Behavior in Low and Middle-Income Developing Countries: A Comparison," IMF Working Papers 95/3, International Monetary Fund.
- Reinhart, Carmen & Ogaki, Masao & Ostry, Jonathan, 1996. "Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison," MPRA Paper 6978, University Library of Munich, Germany.
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- Delano Villanueva, 1994.
"Openness, Human Development, and Fiscal Policies: Effects on Economic Growth and Speed of Adjustment,"
IMF Staff Papers,
Palgrave Macmillan, vol. 41(1), pages 1-29, March.
- Delano Villanueva, 1993. "Openness, Human Development, and Fiscal Policies: Effectson Economic Growth and Speed of Adjustment," IMF Working Papers 93/59, International Monetary Fund.
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