This paper analyzes why the Philippines' growth performance has improved significantly in recent years. As in the medium to long term actual growth adjusts to potential, we posit that the reason behind this improvement is that the country’s potential growth is increasing. We derive an estimate...

This paper explores the degree of structural change of the Philippine economy using the inputoutput framework. It examines how linkages among economic sectors evolved over 1979–2000, and identifies which economic sectors exhibited the highest intersectoral linkages. We find that manufacturing...

"Nedelyn Magtibay-Ramos, Gemma Estrada, and Jesus Felipe provide an analysis of the business process outsourcing (BPO) industry in the Philippines. The paper provides a profile of the BPO sector; makes comparisons with other large BPO providers; and uses input–output tables to estimate...

This paper provides an analysis of developing Asia's growth experience from the point of view of its structural transformation during the last three decades. The most salient feature of this transformation has been the significant decrease in the share of agriculture and the parallel increase in...

This paper documents the transformation of developing Asia's manufacturing sector during the last three decades and benchmarks its share in GDP with respect to the international regression line by estimating a logistic regression.

The debate about whether technical progress causes technological unemployment, as the Luddites argued in the early 19th century, has recently resurfaced in the context of new technologies and automation and the so-called Fourth Industrial Revolution. We review the main issues and then consider...

The severe economic downturn caused by the coronavirus disease (COVID-19) pandemic has forced governments worldwide to increase spending while tax revenues simultaneously collapsed. Concurrent with this, central banks in several of these countries are financing a significant percent of their...