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Philippine Quarterly Update : Investing in Inclusive Growth amid Global Uncertainty.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank.
- Series:
- Economic Updates and Modeling
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Access to Finance.
- Accounting.
- Analysis of Economic Growth.
- Banking Sector.
- Corruption.
- Debt Markets.
- Developing Countries.
- Domestic Debt.
- Economic Management.
- Economic theory & Research.
- Emerging Markets.
- Equity Markets.
- Expenditures.
- External Shocks.
- Finance and Financial Sector Development.
- Financial Crisis.
- Financial Institutions.
- Financial Services.
- Financial Stability.
- Fiscal Policy.
- Foreign Banks.
- Fraud.
- Global Economy.
- Gross Domestic Product.
- Human Capital.
- Inflation.
- Insurance.
- Investment Climate.
- Job Creation.
- Life Insurance.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Minimum Wage.
- Monetary Policy.
- Natural Disasters.
- Private Investment.
- Private Sector Development.
- Profitability.
- Public Debt.
- Public Spending.
- Recession.
- Remittances.
- Risk Aversion.
- Risk Management.
- Sovereign Debt.
- Tax Policy.
- Transparency.
- Unemployment.
- Urban Areas.
- Yield Curve.
- Local Subjects:
- Access to Finance.
- Accounting.
- Analysis of Economic Growth.
- Banking Sector.
- Corruption.
- Debt Markets.
- Developing Countries.
- Domestic Debt.
- Economic Management.
- Economic theory & Research.
- Emerging Markets.
- Equity Markets.
- Expenditures.
- External Shocks.
- Finance and Financial Sector Development.
- Financial Crisis.
- Financial Institutions.
- Financial Services.
- Financial Stability.
- Fiscal Policy.
- Foreign Banks.
- Fraud.
- Global Economy.
- Gross Domestic Product.
- Human Capital.
- Inflation.
- Insurance.
- Investment Climate.
- Job Creation.
- Life Insurance.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Minimum Wage.
- Monetary Policy.
- Natural Disasters.
- Private Investment.
- Private Sector Development.
- Profitability.
- Public Debt.
- Public Spending.
- Recession.
- Remittances.
- Risk Aversion.
- Risk Management.
- Sovereign Debt.
- Tax Policy.
- Transparency.
- Unemployment.
- Urban Areas.
- Yield Curve.
- Other Title:
- Philippine Quarterly Update
- Place of Publication:
- Washington, D.C. : The World Bank, 2012.
- System Details:
- data file
- Summary:
- The Philippine quarterly update provides an update on key economic and social developments, and policies over the past three months. Despite heightened global economic uncertainty, the Philippine economy grew by 6.4 percent in the first quarter of 2012, a solid recovery from the relatively low 3.9 percent outturn for 2011. Higher growth was driven by a recovery in net exports and government spending, and robust private consumption. However, the ongoing European debt crisis and the slowdown in China pose significant downside risks to growth. The main channels of contagion to the Philippines are direct exports and remittance linkages to Europe, and indirect impact through regional production networks centered on China. The challenge for policymakers is to cushion the economy from potential external shocks, while ensuring that the Philippines invest in inclusive growth. Political commitment and strong macroeconomic fundamentals provide a window of opportunity for investing in inclusive growth by accelerating the implementation of reforms that improve the business environment for firms of all sizes, and boosting public investment in key infrastructure. Faster human capital accumulation will enhance productivity and drive growth in the medium term by enabling the country to shift gears towards higher value-added activities and more innovation.
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