World Bank2012-03-192012-03-192011-06-09https://hdl.handle.net/10986/2760With the global economy on the way to recovery from the financial crisis, the Asian economies appear poised to bounce back strongly. For most people in the Philippines, however, a return to the status quo ante will offer little consolation. That is because when economic growth accelerated during 2002-08, poverty did not decline as hoped. With a third of the population currently below the poverty line, and high and rising inequality in incomes, the country's main development challenge is to achieve growth that is much more widely shared to make growth work for the poor. Making growth work for the poor in the Philippines is a significant development challenge, but one that is worth pursuing vigorously. The new administration not only has the mandate but the historic opportunity to deliver on this goal as well as other election platforms on which it was voted to power. These include 'the organized and widely-shared rapid expansion of the economy through a government dedicated to honing and mobilizing the people's skills and energies as well as the responsible harnessing of natural resources; moving to well-considered programs that build capacity and create opportunity among the poor and the marginalized in the country; policies that create conditions conducive to the growth and competitiveness of private businesses, big, medium and small; and making education the central strategy for investing in people, reducing poverty and building national competitiveness.' In addition, the new administration is committed to fight corruption. These goals are fully echoed in the strategy and policy actions identified above and elaborated in the accompanying discussion notes.CC BY 3.0 IGOACCOUNTABILITYADMINISTRATIVE REFORMSADVERSE EFFECTSADVERSE IMPACTAGRICULTUREANTI-COMPETITIVE PRACTICESAUDITSBALANCE OF PAYMENTSBANK SECRECYBANKING SYSTEMBARRIERS TO GROWTHBINDING CONSTRAINTSBUDGET TRANSPARENCYBUSINESS DEVELOPMENTBUSINESS ENVIRONMENTBUSINESS REGULATIONSCAPITAL ACCUMULATIONCAPITAL FORMATIONCAPITAL INTENSIVE PRODUCTIONCAPITAL INVESTMENTSCENTRAL BANKCITIZENSCIVIL SOCIETYCIVIL UNRESTCLIMATE CHANGECOMMUNICATIONS TECHNOLOGYCOMPARATIVE ADVANTAGECOMPETITION FRAMEWORKCOMPETITION POLICYCOMPETITIVENESSCONSUMER PRICE INDEXCONSUMERSCONTINGENT LIABILITIESCORE GOVERNANCECORPORATE PROFITSCORPORATE TAXCORRUPT PRACTICESCORRUPTIONCREDIT BUREAUCRIMECRISESCURRENCYDEBTDECENTRALIZATIONDECISION MAKINGDEMOGRAPHIC TRANSITIONDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPING ECONOMIESDEVELOPMENT STRATEGYDRINKING WATERECONOMIC ACTIVITYECONOMIC CRISISECONOMIC EMPOWERMENTECONOMIC EXPANSIONECONOMIC GROWTHECONOMIC PERFORMANCEECONOMICSECONOMIES OF SCALEECONOMISTSELASTICITYEMISSIONSEMPIRICAL EVIDENCEENVIRONMENTALENVIRONMENTAL DEGRADATIONEQUILIBRIUMEXCESS SUPPLYEXCHANGE RATEEXCISE TAXESEXPORT GROWTHEXPORTSEXPOSUREEXTERNALITIESFINANCIAL CRISISFINANCIAL INFORMATIONFINANCIAL MANAGEMENTFINANCIAL MARKETSFINANCIAL RISKSFINANCIAL SECTORFINANCING FACILITIESFISCAL CONSOLIDATIONFISCAL POLICYFULL EMPLOYMENTGDPGINI COEFFICIENTGLOBAL ECONOMYGOOD GOVERNANCEGOVERNANCE INDICATORSGOVERNANCE REFORMGROWTH RATEGROWTH RATESHUMAN CAPITALHUMAN RESOURCEIMPORT BARRIERSIMPROVING GOVERNANCEINCOME DISTRIBUTIONINCOME GROWTHINCOME LEVELSINCOMESINDUSTRIALIZATIONINEQUALITYINFANT MORTALITYINFLATIONARY PRESSURESINFORMATION SYSTEMINFORMATION SYSTEMSINFRASTRUCTURE DEVELOPMENTINSTITUTIONAL ARRANGEMENTSINSTITUTIONAL CAPACITIESINSTITUTIONAL FRAMEWORKINSURANCEINSURANCE INDUSTRYINTERNATIONAL FINANCEINTERNATIONAL TRADEINVESTMENT CLIMATEINVESTOR PROTECTIONJOB CREATIONLABOR COSTSLABOR FORCELABOR PRODUCTIVITYLEGAL FRAMEWORKLIQUIDITYLIVING STANDARDSLOCAL GOVERNANCELOCAL LEVELSMACROECONOMIC MANAGEMENTMACROECONOMIC STABILITYMARGINAL PRODUCTMARGINAL PRODUCTSMARKET ACCESSMARKET DISTORTIONSMIDDLE-INCOME ECONOMIESNATIONAL INCOMENATIONAL LEVELNATURAL DISASTERSNATURAL RESOURCESNET WORTHOPEN ECONOMYORGANIZATIONAL STRUCTUREOUTPUTOUTSOURCINGPER CAPITA INCOMEPERFORMANCE INDICATORSPOLITICAL STABILITYPOPULATION GROWTHPRICE SUBSIDYPRIMARY EDUCATIONPRIVATE CONSUMPTIONPRIVATE INVESTMENTPRIVATE SCHOOLSPRIVATE SECTOR DEVELOPMENTPRIVATIZATIONPRODUCERSPRODUCTION PROCESSESPRODUCTIVITY GROWTHPRODUCTIVITY INCREASESPROPERTY RIGHTSPUBLIC DEBTPUBLIC EXPENDITURESPUBLIC FINANCESPUBLIC POLICYPUBLIC SECTOR MANAGEMENTPUBLIC SERVICE DELIVERYPUBLIC-PRIVATE PARTNERSHIPSRAPID EXPANSIONREAL GDPREAL INCOMEREAL WAGESREFORM PROGRAMREGULATORY CAPTUREREGULATORY FRAMEWORKRENEWABLE ENERGYREPUTATIONRESOURCE MANAGEMENTRISK MANAGEMENTRISK REDUCTIONSAFETY NETSSAVINGSSECRECY LAWSKILLED WORKERSSKILLS SHORTAGESSOCIAL DEVELOPMENTSOCIAL PROGRAMSSOCIAL PROTECTIONSOCIAL PROTECTION STRATEGYSOCIAL SAFETY NETSOCIAL SERVICESSUSTAINABLE MANAGEMENTTAXTAX COLLECTIONTAX EVASIONTAX REFORMSTAX REVENUESTAX SYSTEMTAXATIONTOTAL FACTOR PRODUCTIVITYTOTAL FACTOR PRODUCTIVITY GROWTHTRADE BARRIERSTRADE DEFICITTRADE DEFICITSTRADE LIBERALIZATIONTRADE POLICIESTRADE POLICYTRANSPARENCYUNDERESTIMATESUNDERVALUATIONUNEMPLOYMENTUNEMPLOYMENT RATEURBAN DEVELOPMENTWAGESWASTE MANAGEMENTWORLD ECONOMYWORLD TRADEWORLD TRADE ORGANIZATIONWTOWorld Bank10.1596/2760