After 1870, and long before the rise of the Asian Tigers and the group of emerging economies of Brazil, Russia, India, China, and South Africa, industrial output grew fast enough in the poor periphery to achieve unconditional convergence on the industrial leaders. The Philippines was part of the...

After a review of the institutional economics literature, time- series evidence is presented to show that recent Philippine economic growth has been hindered by institutional weaknesses. In particular, variables representing political instability and corruption are seen to have significantly...

While much has been written about the political ideas of the revolution, little if anything has been written about its economic ideas. This paper is an attempt to provide an intellectual background to the economic policies and directives emanating from the Malolos Republic. It traces the source...

No abstract

While much has been written about the political ideas of the revolution, little if anything has been written about its economic ideas. This paper is an attempt to provide an intellectual background to the economic policies and directives emanating from the Malolos Republic. It traces the source...

A strong executive branch and nationality-requirements on specific areas of the economy are two ideas contained in provisions of the Philippine Constitution of 1935 that have been carried over into the country’s subsequent charters. Using the record of debates during the convention, this...

For the same technology, historically observed modes of organizing labor- slavery, serfdom, and freeholding- are compared in terms of Pareto-superiority. Conditions are sought under which one is superior to the other.

Where capital markets are undeveloped and political differences among capital owners predominate, capital becomes "parcellised" and is, for all intents and purposes, "specific" to the parcel. The familiar specific-factors model then becomes applicable. Parcellisation results in lower output and...

No Abstract

This paper attempts mainly to substantiate the hypothesis that the pattern of tariff protection in the past contributed to the oligopolistic structure of Philippine manufacturing, and that such concentration included a distinct foreign element. Firstly, the paper presents a theory to illustrate...