Economy of the Philippines
A Complete Economic Analysis of the Philippines
Kathy Wallace
February 19, 2012
Regis University
MSM661
Jim Zelenski
Abstract
The Philippines is one of eight countries that comprise Southeast Asia. A mass of thousands of islands, the country has been struggling to obtain true democracy and freedom for its citizens. After a review of the political history and demographics of the country, an in-depth analysis of the economic condition of the Philippines will be explored. Appendix A contains a map of the Philippines by different cultural regions. Economic topics will include Fiscal and Monetary policies, as well as a review of the peso. Next, significant economic indicators will be discussed, including unemployment, interest rates, inflation rates, and overall growth. Appendix B provides a graph explaining the Human Development Index (HDI), while Appendix C shows a breakdown of government spending on education. The economic review will end with a look at the Filipino international trade, including imports and exports. The paper will conclude with a summary and a list of recommendations.
A Complete Economic Analysis of the Philippines Even though the United States (US) is struggling with an unprecedented amount of debt, an 8% unemployment rate, a decrease of “real” Gross Domestic Product (GDP) of approximately 25% since the 1970’s, and an ineffective debate over the arbitrary number of a Debt Ceiling (MSM661 Handouts), Asia is experiencing a great deal of growth, with an increase in GDP by about 5.5% over 2012, and an estimated increase of about 6% in 2013. While very modest compared to Asian standards, it is “enviable by world standards. Asia will remain the Global leader in growth, expanding over 2 percentage points faster than the world average next year,” according to Anoop Singh, head of the Asian and Pacific departments of the International Monetary Fund (IMF) (“Growth in Asia, 2012, p.1). One country that is helping Asia in its
Kathy Wallace
February 19, 2012
Regis University
MSM661
Jim Zelenski
Abstract
The Philippines is one of eight countries that comprise Southeast Asia. A mass of thousands of islands, the country has been struggling to obtain true democracy and freedom for its citizens. After a review of the political history and demographics of the country, an in-depth analysis of the economic condition of the Philippines will be explored. Appendix A contains a map of the Philippines by different cultural regions. Economic topics will include Fiscal and Monetary policies, as well as a review of the peso. Next, significant economic indicators will be discussed, including unemployment, interest rates, inflation rates, and overall growth. Appendix B provides a graph explaining the Human Development Index (HDI), while Appendix C shows a breakdown of government spending on education. The economic review will end with a look at the Filipino international trade, including imports and exports. The paper will conclude with a summary and a list of recommendations.
A Complete Economic Analysis of the Philippines Even though the United States (US) is struggling with an unprecedented amount of debt, an 8% unemployment rate, a decrease of “real” Gross Domestic Product (GDP) of approximately 25% since the 1970’s, and an ineffective debate over the arbitrary number of a Debt Ceiling (MSM661 Handouts), Asia is experiencing a great deal of growth, with an increase in GDP by about 5.5% over 2012, and an estimated increase of about 6% in 2013. While very modest compared to Asian standards, it is “enviable by world standards. Asia will remain the Global leader in growth, expanding over 2 percentage points faster than the world average next year,” according to Anoop Singh, head of the Asian and Pacific departments of the International Monetary Fund (IMF) (“Growth in Asia, 2012, p.1). One country that is helping Asia in its
References: 1. “Breaking new ground in agriculture.” (October 18, 2012) 2 3. “Energy plans target renewable.” (January 28, 2013). 4. “Property surge takes shape.” (May 21, 2012). 5. “Real estate loans rising.” (November 2, 2012) 6 7. “Year in review 2012.” (December 18, 2012) IndexMundi.com 1. “Philippines – Median age.” (2010). 2. “Philippines – Unemployment.” (2010). 2. “Philippines imports.” (2013) 3 4. “Philippines inflation rate.” (2013) 5