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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Development Economics Working Papers
22670, East Asian Bureau of Economic Research.
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- Emmanuel S. de Dios, 2008.
"Institutional Constraints on Philippine Growth,"
UP School of Economics Discussion Papers
200806, University of the Philippines School of Economics.
- 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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