Aspirations and Challenges for Economic and Social Development in the Philippines Toward 2030
The Philippines continues to demonstrate a development puzzle. Despite abundant natural and human resources, its development record pales in comparison with its neighbors in East Asia. This study presents a SWOT analysis to explain the economic development of the Philippines. To overcome the threats and weaknesses, the Philippines should aspire for BRISK development: balanced, rapid, inclusive, sustainable, and capital-intensive economic growth. Policy recommendations include standard reforms related to expanding fiscal space and improving infrastructure. However, Philippine history requires that special attention be given to strengthening institutions and weakening the grip of oligarchs. The rapid rise of China and India and the establishment of the ASEAN Economic Community provide an opportunity to attract more foreign direct investment, diversify the productions base, and expand the role of small and medium-sized enterprises.
|Date of creation:||2013|
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- Magnoli Bocchi, Alessandro, 2008. "Rising growth, declining investment : the puzzle of the Philippines," Policy Research Working Paper Series 4472, The World Bank.
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"Children and the Labor Force Participation and Earnings of Parents in the Philippines,"
Philippine Journal of Development
PJD 2005 Vol. XXXII No. 1, Philippine Institute for Development Studies.
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- 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.
- L. Alan Winters & Shahid Yusuf, 2007. "Dancing with the Giants: China, India, and the Global Economy," World Bank Publications, The World Bank, number 6632, June.
- Dani Rodrik, 2008. "The Real Exchange Rate and Economic Growth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 39(2 (Fall)), pages 365-439.
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