Notes on Philippine Growth and the Government's Medium-Term Plan

Abstract

The Philippines is an exception in the general trend of economic growth and rising living standards in the East-Southeast Asian region. In the interest of maintaining democracy and in keeping the effects of mass poverty at bay, this state of the nation needs to be addressed. The Philippines must become globally competitive. The strategy of late industrialization, under the guidance of a strong developmentalist state, must be adopted in order to achieve this. In line with this task, market forces must be made to govern the economy in place of politics; power must be wrested from the so-called oligarchs. It is necessary that the government take a more active role in steering the country towards economic prosperity.