RHO STORIES: Philippines’ low growth an Asian Development Bank research

Philippines’ low growth an Asian Development Bank research

the emergence of THE pHILIPPINES on export promotion, private sector-led development, agricultural transformation, high savings rates, skill accumulation and economic flexibility

studies have attributed the Philippines’ low growth to its weak institutions. Despite the Philippines being an open and growing economy, investment is relatively low

The Asian Development Bank, using the growth diagnostics approach, identified the following critical constraints to Philippine growth and development: a tight fiscal situation, inadequate infrastructure, weak investor confidence, a small and narrow industrial base, lack and slow growth of employment, inequitable access to development opportunities,

the Philippines was unable to develop its agriculture and industry sectors (particularly manufacturing) to be at par with its Asian neighbors even after some of the turmoil from 1984 dissipated. In fact, growth

Indicators of fiscal policy in the Philippines are broadly comparable with other emerging markets, except for the increase in debt

The in thetax revenue attributed to the low income of the filipino people

Although some favored emerging industries in 1970s continued to lead The Philippines is characterized by slower and declining public and private investment . Capital investmentswere lowl , . Government investment through f tax revenue has also declined since 1997, suggesting that this component was compressed during the fiscal adjustment in this period. Notably, governments of the top-performing group invest almost thrice as much as the Philippine ratio.

The performance of Philippine tourism is low

The Philippines has the lowest agricultural exports in Asia economy's exports are dependent on agricultural raw materials this country needs agro- industrial development alrhough aricultural induatries in General Santos City is improving

The Philippines has relatively more trade freedom, but also more corruption and barriers in doing business Altough The Philippines’ trade freedom index increased dramatically between 1995 and 2010 but it has to be sustained

The Philippines has relatively high literacy, but is weak in research and development The percentage of literate individuals is higher in the Philippines compared to other developing countries. However, the number of researchers, scientific and technical journal articles as well as patent applications has lagged other emerging markets substantially.
Asian Devrlopment Bank Fotmula on Gross Domestic Product
(Real GDP Per Capita Growth) i = c i + βX i + u, for country i = 1,2,…, n

Notably, in the Philippine scenario which is thie study concerns, the indicators of agricultural productivity are broadly similar with other emerging markets while that of agricultural exports is markedly lower.

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