The Philippine Economy Towards 2050: Economic Structure and Monetary Reality

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 agricultu