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Updates of Empirical Estimates of Marxian Categories: The Philippines 1961-2012


  • Victor S. Venida

    (Economics Department, Ateneo de Manila University)


The economies of developing countries have a dualist structure in which feudal and capitalist modes coexist and interact. For the Philippines, this dualism is evident. This paper analyzes the Philippines’s economic structure through a theoretical framework that draws on a Marxian theory interpreted by Wolff (1977, 1979): the model of social disarticulation and the creation of relative surplus value. Adding on to estimates for 1961–2000 for further analysis, this paper updates the estimated Marxian categories for the Philippines using the Input-Output tables from 1961 to 2012 and the formal model used by Venida (2007, 2011). Results of the estimates show labor productivity improvements from 2000 to 2012, which point to the possibility that the Philippine economy could have begun to transition to further capitalist expansion.

Suggested Citation

  • Victor S. Venida, 2020. "Updates of Empirical Estimates of Marxian Categories: The Philippines 1961-2012," Department of Economics, Ateneo de Manila University, Working Paper Series 202011, Department of Economics, Ateneo de Manila University.
  • Handle: RePEc:agy:dpaper:202011

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    References listed on IDEAS

    1. Blaug,Mark, 1997. "Economic Theory in Retrospect," Cambridge Books, Cambridge University Press, number 9780521577014, February.
    2. Picchio,Antonella, 1992. "Social Reproduction," Cambridge Books, Cambridge University Press, number 9780521418720, February.
    3. Beja, Edsel Jr., 2006. "Capital Flight and the Hollowing Out of the Philippine Economy in the Neoliberal Regime," MPRA Paper 4830, University Library of Munich, Germany.
    4. Sarah Lynne S. Daway & Raul V. Fabella, 2015. "Development progeria: the role of institutions and the exchange rate," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 52(2), pages 84-99, December.
    5. Leandro Medina & Mr. Friedrich Schneider, 2018. "Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?," IMF Working Papers 2018/017, International Monetary Fund.
    6. Beja Jr, Edsel & Mendoza, Ronald U. & Venida, Victor S. & Yap, David B., 2012. "Inequality in democracy: Insights from an empirical analysis of political dynasties in the 15th Philippine Congress," MPRA Paper 40104, University Library of Munich, Germany.
    7. De Janvry, Alain & Sadoulet, Elisabeth, 1983. "Social articulation as a condition for equitable growth," Journal of Development Economics, Elsevier, vol. 13(3), pages 275-303, December.
    8. Felipe, Jesus & Estrada, Gemma, 2018. "Why has the Philippines’ Growth Performance Improved? From Disappointment to Promising Success," ADB Economics Working Paper Series 542, Asian Development Bank.
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    More about this item


    input-output; labor productivity; Marxian theory; Philippines; relative surplus value;
    All these keywords.

    JEL classification:

    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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