Competitiveness, Income Distribution, & Growth in the Philippines: What Does the Long-Run Evidence Show?

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Our Price: $15.00

Year: 2004
Pages: 38
Binding Paperback

Product Code: 0756746078

Description

Jesus Felipe (au); Grace C. Sipin (au). Considers unit labor costs (ULC’s), i.e., the ratio of the wage rate to labor productivity, as the indicator of competitiveness in the Philippines. ULC’s have an interpretation from the point of view of the functional dist. of income (i.e., the dist. of output between labor & capital). This report documents the dynamics of labor share in the nat. income for 1980-2002, & provides an analysis of the long-run performance of the Philippine economy. Shows that the country is submerged in a “low-level equilibrium trap.” This situation has profound implications for long-run growth & for the potential growth rate of the country, & explains the progressive deterioration of the Philippines during the last two decades, although there are some signs of recovery. Charts & tables.

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