Philippines : From Short-Term Growth to Sustained Development

After reviewing the more promising recent developments, this report examines the nature of growth and development in the Philippines from a longer-term perspective and the factors that may have inhibited performance. It concludes that political instability has undermined the beneficial impact of the...

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Bibliographic Details
Main Author:	World Bank
Format:	Development Policy Review (DPR)
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCOUNTABILITY ACCOUNTING AGRICULTURE ASSET MANAGEMENT ASSETS BALANCE OF PAYMENTS BALANCE SHEETS BANKING SECTOR BANKING SYSTEM BOND ISSUES BORROWING BORROWING COSTS CAPITAL MARKETS CENTRAL BANK CITIZENS CIVIL SERVICE COMMERCIAL BORROWING COMPETITIVENESS CORRUPTION CPI CRISES CRONY DEBT DEBT SERVICE DEBT/GDP DECENTRALIZATION DEFICITS DEREGULATION DIRECT INVESTMENT ECONOMIC ACTIVITY ECONOMIC CRITERIA ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC REFORM ECONOMIC SHOCKS EDUCATIONAL ATTAINMENT EFFECTIVE PARTICIPATION ELECTRICITY EXCHANGE RATE EXPENDITURE/GDP EXPENDITURES EXPORT GROWTH EXPORTS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SECTOR FISCAL MANAGEMENT FISCAL POLICY FISCAL REFORMS FOREIGN EXCHANGE GDP GINI COEFFICIENT GNP GOVERNMENT DEBT GOVERNMENT GUARANTEES GOVERNMENT SECURITIES GOVERNMENT SPENDING GROWTH PERFORMANCE HUMAN DEVELOPMENT HUMAN RESOURCE IMPORTS INCOME INCOME GROUPS INEQUALITY INEQUALITY MEASURES INFLATION INSTITUTIONAL CAPACITY INTEREST RATES INTERNATIONAL CREDIT RATING AGENCIES INTERNATIONAL RESERVES INTERNATIONAL TRADE INVESTMENT CLIMATE LABOR FORCE LATIN AMERICAN LAWS LIQUIDITY LOCAL GOVERNMENT LOCAL GOVERNMENTS M3 MARKET ECONOMIES MATURITIES MERITOCRACY MULTINATIONAL CORPORATIONS NATIONAL INCOME NATIONAL LEVEL NATURAL RESOURCES NEW ENTRANTS PACIFIC REGION PER CAPITA INCOME POLICY CREDIBILITY POLITICAL INSTABILITY PRICE INCREASES PRIMARY EDUCATION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCERS PRODUCTIVE ASSETS PUBLIC DEBT PUBLIC DEBT/GDP PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCES PUBLIC GOODS PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC INVESTMENT IN INFRASTRUCTURE PUBLIC PARTNERSHIPS PUBLIC SECTOR PUBLIC SECTOR BORROWING PUBLIC SECTOR DEFICIT PUBLIC SECTOR MANAGEMENT PUBLIC SERVICES REAL GDP REAL GNP REGULATORY FRAMEWORK RESOURCE MOBILIZATION REVENUE/GDP SAVINGS SECURITIES MARKETS SERVICE DELIVERY SOCIAL OUTCOMES SOCIAL PROGRAMS TARIFF BARRIERS TAX TAX ADMINISTRATION TAX EVASION TAX INCENTIVES TAX REVENUE TAX REVENUE/GDP TAX/GDP TELECOMMUNICATIONS TERMS OF TRADE TOTAL FACTOR PRODUCTIVITY TOTAL REVENUE TRADE DEFICIT TRANSPORT TREASURY UNEMPLOYMENT UNEMPLOYMENT RATE UNEQUAL ACCESS URBAN POVERTY VESTED INTERESTS WAGES WTO
Online Access:	http://documents.worldbank.org/curated/en/2005/04/5792182/philippines-short-term-growth-sustained-development http://hdl.handle.net/10986/8552

Description
Summary:	After reviewing the more promising recent developments, this report examines the nature of growth and development in the Philippines from a longer-term perspective and the factors that may have inhibited performance. It concludes that political instability has undermined the beneficial impact of the reforms implemented, and that such instability itself has been rooted in governance failures. Moreover, weaknesses in public institutions and corruption have also directly undermined a range of development objectives. Reconstructing the social contract in the Philippines is a challenge. Key pillars of this strategy discussed in the report include: reducing fiscal vulnerabilities; improving the climate for private investment; and improving public sector performance and governance. The interdependence of these elements as part of a strategy to rebuild the social contract is discussed and the report elaborates on improving the delivery of basic services.

Philippines : From Short-Term Growth to Sustained Development

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