affect the household consumption expenditure and hence poverty. The findings suggest that reduction in remittances will … reduce gross domestic product, investment, and household consumption, which in turn will increase poverty. On the other hand …, the probability of households becoming poor decreases by 12.7% if they receive remittances. The poverty headcount ratio …

a "low-level equilibrium trap." This situation has profound implications for long-run growth and for the potential … growth rate of the country, and explains the progressive deterioration of the Philippines during the last two decades …

prospects as an engine of growth. Our analysis resoundingly confirms the conventional wisdom of an underperforming service …