Asia's Underachiever: Deep Constraints in Philippine Economic Growth

Roehlano Briones ()

No DP 2009-04, Discussion Papers from Philippine Institute for Development Studies

Abstract: Numerous studies have tried to explain the poor growth performance of the Philippines. This paper critically reviews related literature on constraints to long-run growth, as it applies to the Philippines. We evaluate several factors, namely: culture, corruption, and institutions. The last offers the most convincing explanation for mediocre growth. Hence, to raise the country’s growth trajectory, I recommend: sustained policy reform; less hand-wringing over Filipino culture and corruption; and above all, focused and sustained development of functional capitalistic institutions.

Keywords: Philippines; development; institutions; growth constraints (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-fdg and nep-sea
Date: 2009
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