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Aspirations and Challenges for Economic and Social Development in the Philippines Toward 2030


  • Yap, Josef T.
  • Majuca, Ruperto P.


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.

Suggested Citation

  • Yap, Josef T. & Majuca, Ruperto P., 2013. "Aspirations and Challenges for Economic and Social Development in the Philippines Toward 2030," Discussion Papers DP 2013-27, Philippine Institute for Development Studies.
  • Handle: RePEc:phd:dpaper:dp_2013-27

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    References listed on IDEAS

    1. Magnoli Bocchi, Alessandro, 2008. "Rising growth, declining investment : the puzzle of the Philippines," Policy Research Working Paper Series 4472, The World Bank.
    2. 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.
    3. 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.
    4. Orbeta, Aniceto Jr. C., 2005. "Children and the Labor Force Participation and Earnings of Parents in the Philippines," Discussion Papers DP 2005-20, Philippine Institute for Development Studies.
    5. Nye, John, 2011. "Taking Institutions Seriously: Rethinking the Political Economy of Development in the Philippines," Asian Development Review, Asian Development Bank, vol. 28(1), pages 1-21.
    6. 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.
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    1. repec:ilo:ilowps:486999 is not listed on IDEAS
    2. Yap, Josef T., 2014. "ASEAN Community 2015 : managing integration for better jobs and shared prosperity in the Philippines," ILO Working Papers 994869993402676, International Labour Organization.

    More about this item


    Philippines; ASEAN Economic Community (AEC); development puzzle; SWOT analysis; critical development constraints; balanced; rapid; sustainable; inclusive; and capital-intensive economic growth;

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