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

Josef T. Yap and Ruperto P. Majuca

No DP 2013-27, Discussion Papers from Philippine Institute for Development Studies

Abstract: 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.

Keywords: Philippines; ASEAN Economic Community (AEC); development puzzle; SWOT analysis; critical development constraints; balanced; rapid; sustainable; inclusive; and capital-intensive economic growth (search for similar items in EconPapers)
Pages: 42
Date: 2013
New Economics Papers: this item is included in nep-cwa and nep-sea
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Citations: View citations in EconPapers (2)

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