Notes on Philippine economic growth and its sources
The review uses insights from the Solow growth model and endogenous growth theory to interpret Philippine economic growth since the 1950s. For five decades after World War II, total factor productivity growth (TFP) was low, thereby accounting for the country’s uneven growth performance. In the first decade of the 21st century, TFP growth gained strength, a finding that suggests the need to further investigate the factors behind the increase.
JEL classification: O47
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