The Philippine Economy Towards 2050
Economic Structure and Monetary Reality
Jesus Felipe author Julián Pérez author Mariel Monica Sauler author Christopher Cabuay author Alellie Sobreviñas author Susan Kurdli author Eva Marie Aragones author Gerardo Largoza author
Format:Paperback
Publisher:Taylor & Francis Ltd
Publishing:5th Jun '26
£49.99
This title is due to be published on 5th June, and will be despatched as soon as possible.
This book provides a rigorous analysis of the factors underlying the Philippines’ relative economic stagnation compared with its Southeast Asian neighbours, despite sustained optimistic government rhetoric.
Three critical factors are identified: failure to industrialise and undergo a complete economic transformation, resulting in an underdeveloped agricultural sector and an economy dependent on low-productivity services; ineffective reforms that differ markedly from successful regional models; and self-defeating fiscal conservatism that has prevented adequate investment in essential public goods and industrial policy. Using two innovative economic models—a macro-econometric model and an employment-education forecasting model—the book offers forecasts of the Philippines' income per capita, poverty, or economic structure, through 2050. The researchers warn that unless the country’s economic policy focuses on the transformation of the economy (with emphasis on the modernization of agriculture and developing the manufacturing sector), and the government adopts a more active role, the Philippines will experience More of the Same (MOTS) during the next decades.
An accessible resource for scholars, students, journalists, officials, and business professionals as an introduction to Philippine history, politics, and economy. The book will also be useful for development practitioners with its insights on structural transformation, and on fiscal and monetary policy.
“The fundamentals of the Philippine economy, allege our economic managers, remain strong. If this were so, why the poverty? This important volume shows the lack of economic imagination that bedevils Philippine policymakers. And it offers a stark warning: more of the same policies means more of the same results.”
Lisandro E. Claudio, Associate Professor, Department of South and Southeast Asian Studies, and Chair, Center for Southeast Asia Studies, Berkeley University, USA
“The Philippines has been left behind over the last few decades relative to its close East Asian neighbors as a result of a flawed economic development strategy. The government, under constant pressure from multilateral agencies such as the IMF to pursue fiscal austerity, has failed to pursue a high productivity industrial strategy based on manufacturing. Instead, it has overseen a burgeoning service sector which has resulted in low-paid and low productivity employment. Part of this problem has been the dominance of orthodox macroeconomic thinking that has constrained the government's capacity to use fiscal policy to build public goods and infrastructure that would crowd in productive private investment. The Philippines suffers from massive underinvestment because of the unwillingness to use fiscal deficits to promote growth. This book is a very valuable contribution because it correctly frames the problems that the nation faces and provides viable and sensible solutions to take the Philippines forward. It is a rare voice in an environment where the orthodox macroeconomic consensus creates a cone of silence and a climate of denial.”
William Mitchell,Professor of Economics, Centre of Full Employment and Equity University of Newcastle, Australia
“Unlike South Korea, the Philippines failed to implement a successful land reform capable of making meritocracy credible, nor did it pursue a coordinated strategy of human resource development aligned with export-oriented industrialization. This book examines the Philippines’ disappointing economic performance since the mid-1970s, characterized by modest growth with limited structural transformation, and explores how the country can address innovation, coordination, and governance challenges going forward. It is essential reading for those interested in the Philippines and in comparative Asian development.”
Wonhyuk Lim, Professor,KDI School of Public Policy and Management, Korea
ISBN: 9781041217251
Dimensions: unknown
Weight: unknown
364 pages