The ‘buwaya problem’: Corruption and election 2016
EDITORIAL CARTOON BY JIM ANDALIS
By Solita C. Monsod
All our candidates in one form or another are of course promising faster growth and improved development outcomes. What has been the Philippine track record on growth?
My recent talk, “The Philippine Economy: A Long (and Wide) View” looks at the forest rather than the trees—the big picture.
And it was a long view—showing the growth rates of the Philippine economy, post-World War II (courtesy of the Philippine Statistical Authority), and then comparing these with those of other countries over a 50-year period (1960-2009). The 50-year comparison comes from the Economic Development text--Perkins, 7th Edition at the University of the Philippines.
The table shows each country’s per capita GDP (measured in international dollars) in 1960 and then in 2009, and computes average growth rates. It divides developing countries into four categories—those that showed negative growth over the period, those that showed slow growth (from 0 percent to <2 percent), moderate growth (2 percent to 3 percent) and rapid growth (>3 percent). Not all countries are included, only those for which data are available over the 50-year period—about 34 developing countries.
The Philippines was categorized as a slow growth country, its per capita GDP growth rate averaging 1.58 percent. Its Asean, East Asian (South Korea, China), or even its South Asian (India, Sri Lanka) neighbors were rapid growth countries.
(Read more of the article at http://opinion.inquirer.net/93477/the-philippines-buwaya-problem)
(PDI/”The Philippines ‘Buwaya’ problem” 03/05/16)