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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- Jeffrey G. Williamson, 1971. "Capital Accumulation, Labor Saving, and Labor Absorption Once More," The Quarterly Journal of Economics, Oxford University Press, vol. 85(1), pages 40-65.
- Jeffrey G. Williamson, 1969. "Dimensions of Postwar Philippine Economic Progress," The Quarterly Journal of Economics, Oxford University Press, vol. 83(1), pages 93-109.
- 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.
- 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.
- Reinhart, Carmen & Ogaki, Masao & Ostry, Jonathan, 1995. "Saving behavior in low- and middle-income developing countries," MPRA Paper 13757, University Library of Munich, Germany.
- 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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