Economic Adjustment and Growth:Theory and Practice

Delano Villanueva, Roberto Mariano and Diwa C Guinigundo
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Diwa C Guinigundo: AIA Philippines Investment Management Corporation, Philippines & Singapore Management University, Singapore

in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.

Abstract: This book focuses on conceptualizing the process of economic adjustment and growth, and testing it with empirical methods. The critical components of a successful economic growth strategy include physical, financial, and educational infrastructures supported by macro-financial stabilization policies and structural reforms. With this in mind, the authors begin with a review of the neoclassical growth model, before delving into more specialized topics such as endogenous growth, adaptive inflationary expectations, learning by doing, optimal saving, and sustainable foreign debt. The final chapter presents Philippines as a case study, and narrates the evolution of a successful strategy of adjustment and growth practiced by an emerging market economy that had shown stellar pre-pandemic growth performance, low and stable inflation, and a sustainable external current account position.

Keywords: Adjustment and Growth; Testing Growth Models; Labor Participation; Human and Intellectual Capital; Finance and Growth; Adaptive Inflationary Expectations; Learning by Doing; Optimal Saving; Sustainable Foreign Debt; Stabilization and Structural Policies; Emerging Economy Case Study (search for similar items in EconPapers)
JEL-codes: E E02 F4 O11 O4 (search for similar items in EconPapers)
Date: 2023
ISBN: 9789811258770
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Chapters in this book:

Ch 1 The Basic Neoclassical Growth Model: A Review , pp 1-9

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 2 Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach , pp 10-43

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 3 A Modified Neoclassical Growth Model with Endogenous Labor Participation , pp 44-64

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 4 Capital and Growth , pp 65-95

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 5 Finance and Endogenous Growth , pp 96-118

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 6 Openness, Human Development, and Fiscal Policies , pp 119-165

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 7 Does Monetary Policy Matter for Long-Run Growth? , pp 166-196

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 8 Outward-Oriented Trade Policies and Economic Growth , pp 197-221

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 9 External Debt, Adjustment, and Growth , pp 222-249

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 10 Optimal Saving and Sustainable Foreign Debt , pp 250-281

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 11 Economic Adjustment and Growth: A Summing Up , pp 282-288

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

Ch 12 Stabilization Policies and Structural Reforms: The Philippine Case , pp 289-324

Delano Villanueva, Roberto Mariano, Diwa C Guinigundo and Abbas Mirakhor

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