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Leveraging Service Sector Growth in the Philippines

  • Mitra, Raja Mikael

    (Asian Development Bank)

Registered author(s):

    The Philippines is often referred to as a country from which export of services rather than manufactured goods is the principal engine for economic growth, as the share of the service sector in gross domestic product has exceeded that of the industry sector since the mid-1980s. Three major opportunities for leveraging service sector growth stands out. One is expanding the scale and scope of the export and domestic markets for information technology-business process outsourcing and other modern services in urban areas. Second is expanding tourism to foster economic development across social groups and regions including poor and remote rural areas. Third is enhancing the domestic prospects for Filipino technical, managerial, and entrepreneurial talent so they will work in the Philippines rather than overseas. To take advantage of those opportunities, there is a need for concerted efforts to improve infrastructure; logistics; broadband connections; the power supply; and education, healthcare, financial, legal, and public administration services and more generally the overall business environment for foreign investors and local entrepreneurs.

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    File URL: http://www.adb.org/sites/default/files/pub/2013/ewp-366.pdf
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    Paper provided by Asian Development Bank in its series ADB Economics Working Paper Series with number 366.

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    Length: 29 pages
    Date of creation: 27 Aug 2013
    Date of revision:
    Handle: RePEc:ris:adbewp:0366
    Note: http://www.adb.org/sites/default/files/pub/2013/ewp-366.pdf
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    1. Ejaz Ghani & Homi Kharas, 2010. "The Service Revolution," World Bank Other Operational Studies 10187, The World Bank.
    2. Chen, Shaohua & Ravallion, Martin, 2008. "The developing world is poorer than we thought, but no less successful in the fight against poverty," Policy Research Working Paper Series 4703, The World Bank.
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