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Philippines - An agenda for adjustment and growth (Inglês)

The Philippine economy is in the midst of a severe economic and financial crisis. Structural weaknesses of the economy and a changed political situation have contributed to the slowed growth and eroded investor confidence. Serious questions now arise over the medium-term prospects of the economy and the set of policies required to restore growth and improve international creditworthiness. The present crisis has obscured many of the real underlying potentials and capacities of the economy. Stabilization measures must be implemented in such a way as to be compatible with the structural reforms required to restore a viable economy. The agenda proposed center around a strategy based on four principles: (i) improved utilization of existing capital stock and completion of those ongoing investment projects that have high future returns; (ii) careful selection of new public sector investments so as to focus on those having high returns or a high foreign exchange impact, or provide for the rehabilitation of existing infrastructure; (iii) establishment of a policy environment for the private sector that emphasizes efficient import substitution, export production, and increased employment opportunities; and (iv) major expansion of domestic resource mobilization by the public sector.


  • Data do documento


  • TIpo de documento

    Relatório Econômico ou Setorial Pré-2003

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  • País


  • Região

    Leste Asiático e Pacífico,

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  • Nome do documento

    Philippines - An agenda for adjustment and growth

  • Palavras-chave

    international food policy research institute;Incremental Capital-Output Ratio;stabilization program;public financial institution;balance of payment;public corporation;current account deficit;economic and development authority;real effective exchange rate;flexible exchange rate policy;domestic resource mobilization;increase in interest rate;terms of trade;import substitution;efficiency of tax collection;efficiency of resource use;operation and maintenance expenditure;gross domestic investment;oil industry;public sector deficit;Exchange rate policies;investment program;investment incentive;per capita consumption;foreign exchange control;real interest rate;public investment program;capital stock;manufactured export;public finance;export earning;export earnings;international trade taxation;internal cash generation;domestic banking system;public sector investment;incentives for investment;population growth rate;national government budget;growth in agriculture;long-term growth;private investment;manufacturing industry;export industry;



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