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Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines

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  • Delano Villanueva

Abstract

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.

Suggested Citation

  • Delano Villanueva, 1997. "Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp57, April.
    • Handle: RePEc:sea:spaper:sp57
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    References listed on IDEAS

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    1. Luigi L. Pasinetti, 1962. "Rate of Profit and Income Distribution in Relation to the Rate of Economic Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 29(4), pages 267-279.
    2. Jeffrey G. Williamson, 1969. "Dimensions of Postwar Philippine Economic Progress," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 83(1), pages 93-109.
    3. 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.
    4. 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.
    5. Gonzalo M. Jurado, 1974. "The Political Economy of Labor-Capital Relations and the Role of the State: A preliminary sketch of Philippine Manufacturing, 1956-1972," UP School of Economics Discussion Papers 197422, University of the Philippines School of Economics.
    6. Jeffrey G. Williamson, 1971. "Capital Accumulation, Labor Saving, and Labor Absorption Once More," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 85(1), pages 40-65.
    7. 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.
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    Cited by:

    1. Benito Teehankee, 2018. "Critical Realist Action Research and Humanistic Management Education," Humanistic Management Journal, Springer, vol. 3(1), pages 71-90, July.

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    More about this item

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • O - Economic Development, Innovation, Technological Change, and Growth

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