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Policy Reforms and Institutional Weakness : Closing The Gap

Author

Listed:
  • Gilberto M. Llanto

    (Philippine Institute for Development Studies, University of the Philippines)

  • Eduardo T. Gonzalez

Abstract

The promise and potential of the Philippine economy has remained unrealized notwithstanding the countrys talented labor force, skilled professionals and relatively abundant resources. What ails the Philippines? This paper argues that the incompetence and downright corruption of Philippine institutions have much to do with the countrys dismal performance in economic growth and poverty reduction. It draws attention to the significance of effective institutional and regulatory frameworks in orchestrating the policy development process and the need to create competent institutions to nudge such process in the direction of implementing better policies. examines strategic triggers for reform while the final section explores institutions and strategies to support the policy development process.

Suggested Citation

  • Gilberto M. Llanto & Eduardo T. Gonzalez, 2007. "Policy Reforms and Institutional Weakness : Closing The Gap," Governance Working Papers 21927, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:govern:21927
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    File URL: http://www.eaber.org/node/21927
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    Cited by:

    1. 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.

    More about this item

    Keywords

    policy development process; effective institutions; regulatory framework; Governance; accountability; rule of law;

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy

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