New Institutional Economics and the Philippines Essay -- Economy Econo

wise Institutional economics and the PhilippinesNew Institutional Economics offers a way to examine the kinetics of growth -particularly with an eye toward explaining the problems of slow growth in developing economies, where securities industry systems may be presumed to be weak or incomplete. I testament review these concepts within the framework of the Philippines, a sizable country with a rich and diverse set of resources, which however is not achieving significant growth.At present the Philippines is in a depressed albeit not grim state. It body firmly enmeshed in the World Banks lower middle income division of nations with a GDP per capita of $1,050 (U.S. 1998 Atlas method). 38% of the Philippines population is below the bailiwick poverty line. And it has one of the higher population growth rates in the region at 2.7% which will double the population within 30 years if continued1. Growth rate of GDP per capita in the period 1988 to 1998 was besides 1.3%. Its total debt in 1998 was 73% of Gross Domestic Product and this is a growing percentage through the last decade. The overall story on exports is not clear, but traditional export products and categories (sugar, coconut oil / think products, rice, and timber) are not growing. Perhaps the most notable element is the breaker point to which it has not shared in regional growth. As noted by Yoshihara Kunio, relative per capita GNP between the Philippines and Thailand has reversed in the last 40 to 50 years (Yoshihara, 2). One reason for this is the tremendously damaging xx year government of Ferdinand Marcos which among many other things left the county in an exceedingly indebted state at the onset of a world great recession in the late 1980s. A period of relative governmental instability follo... ...ent of the New Institutional Economics. Harriss 27-48.-Toye, John the NIE and its Implications for Development Theory. Harriss 49-70.-Harriss-White, Barbara. Maps & Lndscps Grain Markets in S. As ia. Harriss 87-108.Kelly, Philip F. Landscapes of Globalization Human Geographies of Economic Change in the Philippines. London/New York Routledge, 2000.U.S. State Department. Background notes Philippines, August 1999. Washington DC . http//www.state.gov/www/background_notes/Philippines-1999 region Reports on Economic Policy and Trade Practice U. S. Dept. of State butt 2000 (Philippines PDF ,obtained from internal link previous cite).World Bank. Philippines at a contemplate (PDF). Washington D.C . http//worldbank.org/.Yoshihara, Kunio. the Nation and Economic Growth the Philippines and Thailand. Kuala Lumpur/Oxford Oxford Univ Press, 1994.