Philippines - Growth with Equity : The Remaining Agenda - A World Bank Social and Structural Review
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The report highlights how much recent
achievements, in terms of growth, and poverty reduction, owe
to the progress the country has made on a broad front of
policy issues, such as openness to trade, investment, and
competition, as well as education, and financial regulation.
Nonetheless, progress has been uneven in several fronts,
such as the need to intensify trade liberalization, and
domestic competition; to strengthen governance across
financial, corporate, and public sectors; to broaden asset
ownership, and access by the poor to both tangible assets -
land - and intangible ones, such as education. Beyond the
financial crises, the report addresses medium-term
challenges to face poverty reduction, and economic
performance, and, strengthen corporate governance, and
financial development, through financial reforms. It calls
for the provision of public goods, delivery of effective
justice, and improvement of revenue performance, through
improved fiscal consolidation to attract foreign assistance.
Among the recommendations, the need for savings mobilization
is suggested to sustain economic growth, through
diversification of savings instruments, and increased trade liberalization.
Palabras clave
ACCOUNTABILITY, ACCOUNTING, ACCOUNTING PRINCIPLES, ADB, AGRICULTURE, AUDITING, BANKING REGULATION, BANKING SYSTEM, CAPITAL ADEQUACY, CAPITAL FLOWS, CAPITAL MARKETS, CENTRAL BANK, CITIZENS, CIVIL SERVICE, CIVIL SOCIETY, COMPETITIVENESS, CONNECTED LENDING, CONSOLIDATION, CONSUMERS, CORPORATE GOVERNANCE, CORRUPTION, CPI, DEBT, DEBT RESTRUCTURING, DEMOCRACY, DEPOSIT INSURANCE, DEVALUATION, DEVELOPED COUNTRIES, DEVELOPMENT ASSISTANCE, DEVELOPMENT STRATEGY, DEVOLUTION, DISPOSABLE INCOME, DISTRIBUTION OF INCOME, ECONOMIC ACTIVITY, ECONOMIC COOPERATION, ECONOMIC PERFORMANCE, ECONOMIC STRUCTURES, EDUCATIONAL ATTAINMENT, ELASTICITY, EMPLOYMENT, EXCHANGE RATE, EXPORT GROWTH, EXPORTS, FAMILIES, FINANCIAL ASSETS, FINANCIAL MANAGEMENT, FINANCIAL MARKETS, FINANCIAL PERFORMANCE, FINANCIAL REGULATION, FINANCIAL RESTRUCTURING, FINANCIAL SECTOR, FISCAL YEAR, FISHERIES, FREE TRADE, GDP, GDP PER CAPITA, GNP, GOVERNMENT EXPENDITURES, GOVERNMENT SECURITIES, GROSS DOMESTIC PRODUCT, GROSS NATIONAL PRODUCT, GROSS NATIONAL SAVINGS, GROWTH PATH, GROWTH POTENTIAL, GROWTH RATES, HEALTH INDICATORS, HOUSING, HUMAN CAPITAL, INCOME, INCOME GROUPS, INCOME INEQUALITY, INDUSTRIALIZATION, INFLATION, INSURANCE, INTERNATIONAL DEVELOPMENT, JUDICIARY EFFECTIVENESS, LABOR FORCE, LAND PRICES, LAND TAXES, LAND USE, LAWS, LENDING PRACTICES, LIFTING, LIQUIDITY, LOCAL GOVERNMENT, MANAGERS, MICROFINANCE, MONOPOLY RENTS, MORALITY, MULTINATIONAL CORPORATIONS, MUTUAL FUND, NATIONAL INCOME, NATIONAL OUTPUT, OVERHEAD COSTS, POPULATION GROWTH, POVERTY ALLEVIATION, PRIMARY EDUCATION, PRIVATE SECTOR, PRIVATIZATION, PRODUCERS, PRODUCTIVITY, PUBLIC DEBT, PUBLIC EMPLOYMENT, PUBLIC EXPENDITURES, PUBLIC GOODS, PUBLIC INSTITUTIONS, PUBLIC SECTOR, RENT SEEKING, RETIREMENT, RULE OF LAW, SAVINGS, SAVINGS RATES, SECURITIES, SOCIAL SECURITY, STOCKHOLDERS, T-BILLS, TANGIBLE ASSETS, TAX ADMINISTRATION, TAX REFORM, TELECOMMUNICATIONS, TERMS OF TRADE, TOTAL FACTOR PRODUCTIVITY, TRADE LIBERALIZATION, TRANSPARENCY, TREASURY BILLS, UNDERLYING PROBLEM, UNEMPLOYMENT, UNEMPLOYMENT RATE, URBANIZATION, VALUE ADDED, WAGES, WORKERS, WORLD TRADE ORGANIZATION, WTO, YOUTH GROWTH POLICY, EQUITY OBJECTIVES, SOCIAL SAFETY NETS, POVERTY REDUCTION, FINANCIAL CRISES, PRIVATE SECTOR PARTICIPATION, EXPORTS, EXPORT MARKETS, ECONOMIC DEVELOPMENT, REFORM POLICY, TRADE DEVELOPMENT, INVESTMENTS, COMPETITIVENESS, FINANCIAL REGULATION, TRADE LIBERALIZATION, CORPORATE STRUCTURE, EDUCATION SECTOR, GOVERNANCE APPROACH, PUBLIC SECTOR MANAGEMENT