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Institutional constraints on Philippine growth

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  • Emmanuel S. de Dios

    (School of Economics, University of the Philippines)

Abstract

After a review of the institutional economics literature, time- series evidence is presented to show that recent Philippine economic growth has been hindered by institutional weaknesses. In particular, variables representing political instability and corruption are seen to have significantly affected the investment ratio. A historical analysis traces the origins and persistence of these problems to deeper questions of constitutional legitimacy, unstructured rivalry among elites, and weak support for formal institutions owing to preexisting economic inequality.

Suggested Citation

  • Emmanuel S. de Dios, 2011. "Institutional constraints on Philippine growth," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 48(1), pages 71-124, June.
    • Handle: RePEc:phs:prejrn:v:48:y:2011:i:1:p:71-124
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/661/767
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    Cited by:

    1. repec:ilo:ilowps:486999 is not listed on IDEAS
    2. Manuel F. Montes, 2018. "Six development paths in Southeast Asia: Three plus three," WIDER Working Paper Series wp-2018-94, World Institute for Development Economic Research (UNU-WIDER).
    3. Yap, Josef T. & Cuenca, Janet S. & Reyes, Celia M., 2009. "Impact of the Global Financial and Economic Crisis on the Philippines," Discussion Papers DP 2009-30, Philippine Institute for Development Studies.
    4. Yap, Josef T. & Abad, Anthony R.A. & Gonzales, Kathrina G. & Rosellon, Maureen Ane D., 2012. "Unfair Trade Practices in the Philippines," Discussion Papers DP 2012-39, Philippine Institute for Development Studies.
    5. Yap, Josef T. & Majuca, Ruperto P., 2013. "Aspirations and Challenges for Economic and Social Development in the Philippines Toward 2030," Discussion Papers DP 2013-27, Philippine Institute for Development Studies.
    6. Karl Robert L. Jandoc, 2011. "La Liga Filipina: Rizal and institutional change," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 48(2), pages 151-182, December.
    7. Maureen Ane D. Rosellon & Josef T. Yap, 2010. "The Role of the Private Sector in Regional Economic Integration : a View from the Philippines," Governance Working Papers 23107, East Asian Bureau of Economic Research.
    8. White, George O. & Fainshmidt, Stav & Rajwani, Tazeeb, 2018. "Antecedents and Outcomes of Political Tie Intensity: Institutional and Strategic Fit Perspectives," Journal of International Management, Elsevier, vol. 24(1), pages 1-15.
    9. Jeffrey G. Williamson & Emmanuel S. de Dios, 2014. "Has the Philippines forever lost its chance at industrialization?," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 51(2), pages 47-66, December.
    10. Florian A. Alburo, 2015. "Development Dynamics in the Philippines Historical Perspectives: 1950-2010," UP School of Economics Discussion Papers 201514, University of the Philippines School of Economics.
    11. Manuel Montes, 2018. "Six development paths in Southeast Asia: Three plus three," WIDER Working Paper Series 94, World Institute for Development Economic Research (UNU-WIDER).
    12. Yap, Josef T., 2014. "ASEAN Community 2015 : managing integration for better jobs and shared prosperity in the Philippines," ILO Working Papers 994869993402676, International Labour Organization.
    13. Yap, Josef T. & Rosellon, Maureen Ane D., 2010. "The Role of the Private Sector in Regional Economic Integration: a View from the Philippines," Discussion Papers DP 2010-23, Philippine Institute for Development Studies.

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    More about this item

    Keywords

    growth; investment; institutions; corruption; political economy; Philippines;
    All these keywords.

    JEL classification:

    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East

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