Is the Philippines Heading Towards a Social Market Economy? Lessons from Germany
Katigbak, Jovito Jose P. | February 2018
Abstract
The Philippine economy continues to perform well as it expanded by 6.7 percent in 2017 amid the slow recovery of the global economy, subdued world trade, and increased uncertainty due to the intensifying call for protectionist and inward-looking policies. The said figure is the third highest gross domestic product (GDP) growth registered in Asia in 2017, trailing only China (6.9 percent) and Vietnam (6.8 percent).1 The International Monetary Fund (IMF) estimates that India’s economy expanded by 6.7 percent in 2017.2 For 2018, the Asian Development Bank (ADB) projects the Philippines’ GDP growth to trend upward by 6.8 percent buoyed by strong domestic demand, expansionary public spending, and a more active export industry.3 Given the promising outlook of the nation’s economy, a rising number of foreign firms and investors are keenly observing the economic developments happening domestically. Perhaps an important question that all interested players and stakeholders have been meaning to ask is this: How will the Philippine government steer the country’s economy in the near to medium-term and what direction will it take?
Citation
Katigbak, Jovito Jose P.. 2018. Is the Philippines Heading Towards a Social Market Economy? Lessons from Germany. © Foreign Service Institute. http://hdl.handle.net/11540/7974.ISSN
2423-2890 (Print)
2423-2904 (Online)
Keywords
Social condition
Economic dependence
Economic assistance
International monetary relations
International monetary relations
International trade
National accounting
Market
Project impact
Development projects
Program management
Performance appraisal
Project appraisal
Technology assessment
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Macroeconomic Stabilization
Results-Based Monitoring And Evaluation
Project Evaluation & Review Technique
Project Evaluation
Program Evaluation
Performance Evaluation
Operations Evaluation
Evaluation Methods
Evaluation
Exports
Exchange
Comparative economics
Index number
Monetary policy
Value analysis
Adjustment cost
Transaction cost
Conditionality
International relations
Cumulative effects assessment
Grievance procedures
Participatory monitoring and evaluation
Exchange rate
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