Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines

Delano Villanueva

No 1996/139, IMF Working Papers from International Monetary Fund

Abstract: This paper proposes a model of endogenous economic growth and distribution explicitly incorporating social extraction and political competition, with an application to the Philippine historical experience. The major objective is to explain developments in the distribution of national income and wealth and in the growth rate of per capita capacity output. When calibrated, the proposed model is found to be consistent with the broad contours of Philippine macroeconomic history.

Keywords: WP; production function; physical capital; real wage; extraction rate; group income; income share; shares si; retention rate b; wage rate; wage income; share of the elite; retention rate; factor share; Income; Income distribution; Competition (search for similar items in EconPapers)
Pages: 44
Date: 1996-12-01
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Related works:
Chapter: Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines (2008)
Book: Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines (1997)
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