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Wednesday, 13 March 2013

Questions of sustainability and inclusiveness of economic growth have always been raised in academic and policy debates. In this third issue of the PIDS Economic Policy Monitor (EPM), inclusiveness is examined in the context of regional economic integration. With barely three years remaining before the establishment of the ASEAN Economic Community (AEC), it is but fitting to take a look at the effects of the rapid pace of regional integration on the achievement of sustained, inclusive growth in the Philippines. Despite increasing interrelatedness of markets and freer flows of capital, labor, and technology—which are anticipated to significantly narrow development gaps—income inequalities are rising within countries and between countries in the region. To be truly meaningful, economic growth should be inclusive, where its fruits are not concentrated in the hands of a few but enjoyed by all. It should translate to significant poverty reduction, a better quality of life for the poor.

The four papers featured in this volume show that regional economic integration can become a double-edged sword for the Philippines when its pursuit of full integration into the regional and global economy is not complemented by domestic policy reforms in key economic sectors, the strengthening of industrial capacity, and deepening of poverty reduction efforts. Download the soft copy of the 2012 EPM.

Want more?  Know what other PIDS studies have to say about the growth and poverty nexus. What factors constrain inclusive growth? How can the Philippines capitalize on regional economic integration to reduce poverty?

  1. Economic Policy Monitor 2010: Fiscal Space, Investment, and Poverty Alleviation
  2. Regional Integration, Inclusive Growth, and Poverty: Enhancing Employment Opportunities for the Poor
  3. Financing the MDGs and Inclusive Growth in the Time of Fiscal Consolidation
  4. Asia's Underachiever: Deep Constraints in Philippine Economic Growth

For other related studies, visit the SocioEconomic Research Portal for the Philippines.



(Policy Notes 2013-02) Pantawid Pamilyang Pilipino: Why “deepening” matters in achieving its human capital objectives
by Reyes, Celia M. and Tabuga, Aubrey D.

The Pantawid Pamilyang Pilipino Program (4Ps) is by far the largest poverty reduction and social development program the Philippine government has ever conceived. It is one of the most controversial government programs because it is new, its budget is huge, and it is mainly financed by loans. The 4Ps’ dual objectives are social assistance and social development. It provides cash assistance to poor families to alleviate their immediate needs and aims to “break the intergenerational poverty cycle through investments in human capital (DSWD 4Ps New Briefer).” This Notes aims to raise several issues in the program's design and implementation which are critical to be addressed particularly in terms of achieving its social development objective. >>READ MORE




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