Why has the Philippines’ Growth Performance Improved? From Disappointment to Promising Success

Publication | April 2018
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The Philippines posted an average growth rate of 6.4% during 2010–2017, quite impressive for historical standards.

The Philippines’ potential growth rate reached 6.3% in 2017, the highest in the last 60 years. Most of it is labor productivity growth, driven by manufacturing productivity growth. To continue registering high growth in a stable macroeconomic environment, the Philippines needs to continue increasing its potential growth rate. The paper discusses how this can be done.

Contents

  • Highlights
  • Introduction
  • Okun's Law in the Philippines
  • The Philippines' Potential Growth
  • Decomposition of Labor Productivity Growth
  • Productivity Growth and Jobs
  • Conclusions and Policy Implications
  • Appendix

Additional Details

Authors
Type
Series
Subjects
  • Economics
  • Social protection - labor and employment
Countries
  • Philippines
Pages
  • 44
Dimensions
  • 8.5 x 11
SKU
  • WPS189308-2
ISSN
  • 2313-6537 (print)
  • 2313-6545 (electronic)

Published Version

Felipe, Jesus, Gemma Estrada, and Matteo Lanzafame. 2022. "The turnaround in Philippine growth: From disappointment to promising success." Structural Change and Economic Dynamics 62: 327–42. https://doi.org/10.1016/j.strueco.2022.03.016.

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