Economic Growth in the Philippines: Theory and Evidence

Dante Canlas
Additional contact information
Dante Canlas: School of Economics, University of the Philippines Diliman

No 200304, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: Economic growth in the Philippines is studied using Robert Solow’s neoclassical growth model, which predicts savings and population growth to have positive and negative effects, respectively, on growth of per capita output. The empirical results tend to support the predictions of the model, but some limitations are evident. Human capital or education, which underpins technological progress, shows the expected sign but is not statistically significant. This suggests the need for some extensions of the Solow model, say, along the lines of endogenous growth theory. From a policy standpoint, the results suggest that raising savings, investments, and human capital, and slowing down population growth, continue to be well advised.

Keywords: Solow growth model; steady state; savings; investments; human capital Classification-JEL : I11; I12; I21 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2003-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published as UPSE Discussion Paper No. 2003-04, June 2003

Downloads: (external link)
http://www.econ.upd.edu.ph/dp/index.php/dp/article/view/107/101 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:phs:dpaper:200304

Access Statistics for this paper

More papers in UP School of Economics Discussion Papers from University of the Philippines School of Economics Contact information at EDIRC.
Bibliographic data for series maintained by RT Campos ().