This research reviews the economy of the Philippines. Economic development over the past two decades (growth and downfalls), and current economic conditions are surveyed. National economic policy orientation and application are examined with an emphasis placed on the role of government in economic management (industry and state). Monetary policy orientation and outcomes are considered, and regional economic policy initiatives are discussed within the contexts of fiscal policy and national economic objectives.
Economic Development (Growth and Downfalls)
Economic growth is defined in positive terms as the rate of change in gross national product--GNP (Gwartney, Stroup, & Studenmund, 1994, p. 793). Within this definition, a decline in GNP would be referred to as negative growth. There are two general types of economic growth. Extensive economic growth refers to an expansion of the total output of goods and services, regardless of the change in per capita output. Intensive economic growth refers to an increase in per capita output.
Development is a normative concept that encompasses economic growth, but which also includes structural and distributional changes which should lead to improvements in the living standard for a majority of an economy's population (Todaro, 1991, p. 87). Thus, if economic growth occurs but most of the benefits of such growth accrue to a relatively small economic elite,
Read the full essay by joining our writing community - over 32,000 professional essays and term papers. Access this essay now!
Category: Foreign - E
Some common topics found in the essays are:
Policy Industry, Government Philippines, Economic Review, Stroup Studenmund, Ferdinand Marcos, Bell Wanna, Coroson Aquino, Albor Barnathan, Philippines Economic, Conclusion National, economic growth, land reform, eastern economic review, economic review, eastern economic, tiglao 1994, 1994 pp, 1995 pp, agrarian land reform, agrarian land, economic policy, pp 83-109, thirlwall pp 83-109, living standard majority, economic growth development,
Click Here to Get Instant Access to over 32,000 Professionally Written Papers!!!