The Economic Transition and Growth of Philippine Regions
The paper applies the economic transition models and econometric convergence tests proposed by Phillips and Sul (2006) using data on per capita Gross Regional Domestic Product (1988-2008) to determine if 14 Philippine regional economies converge to a steady state path over a period of time. The paper explores modeling and analyzing the economic transition behavior of the regions. Regional relative transition paths are investigated to generate a graphical overview of the behavior of the regional economies. The log t convergence test, which is constructed from a transition differential decay model, is used to establish if a region converges to a steady state path or diverges from a steady state path. The test basically provides the basis for a stepwise clustering algorithm in finding convergence clusters and analyzing transition behavior between clusters. The paper identifies convergence clubs and determines divergent regional economies using a recursive procedure that revolves around the log t convergence test.
|Date of creation:||Jan 2011|
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- Hal Hill & Budy P. Resosudarmo, 2012. "Introduction," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 48(2), pages 129-142, August.
- Balisacan, Arsenio M. & Mapa, Dennis S. & Briones, Kristine Joy S., 2007. "Robust Determinants of Income Growth in the Philippines," Philippine Journal of Development PJD 2006 Vol. XXXIII Nos., Philippine Institute for Development Studies.
- Arsenio M. Balisacan, 1997. "Growth and Equity in the Philippines," UP School of Economics Discussion Papers 199705, University of the Philippines School of Economics.
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