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 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.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2005-04
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 https://hdl.handle.net/10986/8552
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