IDEAS home Printed from https://ideas.repec.org/p/phd/dpaper/dp_2000-02.html
   My bibliography  Save this paper

The Philippines: Challenges for Sustaining the Economic Recovery

Author

Listed:
  • Lamberte, Mario B.

Abstract

This paper discusses the performance of the Philippine economy as it recovers from the Asian financial crisis and the challenges the country faces in sustaining the recovery and propelling the economy to a higher growth path. The economy has some strengths such as relatively healthy financial and corporate sectors, sustained growth in exports, among others, that can serve as a platform for sustaining the growth momentum. However, the authorities must perform two major tasks, which are not altogether new. One is to ensure macroeconomic stability. In this regard, the government must pay particular attention to containing its budget deficit and managing well its foreign and domestic debt. It must also pursue a consistent exchange rate policy to prevent the recurrence of the condition that prevailed before the crisis and reduce the country's risk to sudden shift in short-term capital flows. The other is to continue the structural reforms so that the country can exploit the opportunities created by the globalization of trade and finance. The structural reforms envisioned in the coming years should address the need for the country to develop intermediate industries to support the industrialization process and to deepen the local operations of foreign-owned enterprises as well as strengthen their linkages with local firms.

Suggested Citation

  • Lamberte, Mario B., 2000. "The Philippines: Challenges for Sustaining the Economic Recovery," Discussion Papers DP 2000-02, Philippine Institute for Development Studies.
  • Handle: RePEc:phd:dpaper:dp_2000-02
    as

    Download full text from publisher

    File URL: https://serp-p.pids.gov.ph/serp-p/download.php?d=6&s=3
    Download Restriction: no

    References listed on IDEAS

    as
    1. Lamberte, Mario B., 1999. "A Second Look at Credit Crunch: The Philippine Case," Discussion Papers DP 1999-23, Philippine Institute for Development Studies.
    2. Lamberte, Mario B. & Yap, Josef T., 1999. "Scenarios for Economic Recovery: The Philippines," Discussion Papers DP 1999-05, Philippine Institute for Development Studies.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    economic recovery; Asian financial crisis;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:phd:dpaper:dp_2000-02. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Aniceto Orbeta). General contact details of provider: http://edirc.repec.org/data/pidgvph.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.