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Why has the Philippines remained a poor country?: some perspectives from growth economics

Philippine Review of Economics

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Title Why has the Philippines remained a poor country?: some perspectives from growth economics
 
Creator Alba, Michael M.; De La Salle University, Manila
 
Subject economic growth; total factor productivity; convergence
 
Description Why has the living standard of the Philippines relative to that of the United States not risen unlike its Asian neighbors? Applying a simple neoclassical model and some empirical methods of analysis employed in growth economics on data on national income accounts and the workforce from the Penn World Table (version 6.1) and years of schooling from Barro and Lee [2000], this paper submits three interconnected answers : The country has been stuck in a low-growth trajectory. It is headed for a low steady-state level of output per worker, which explains its slow pace of long-term growth. Most significantly, its total-factor productivity, at 20.9 percent of that of the United States, is horrendously low, which explains its low convergence point. Improving its total-factor productivity is thus the key to solving the country’s low living standard. JEL classification: O43, O47, O53
 
Publisher Philippine Review of Economics
 
Contributor
 
Date 2010-10-05
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/226
 
Source Philippine Review of Economics; Vol 44, No 2 (2007)
1655-1516
 
Language eng
 
Relation http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/226/620
 
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