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“The Philippine Economy: No Longer the East Asian Exception?” by Ramon L. Clarete, Emmanuel F. Esguerra, Hal Hill
In this insightful book, a notable team of experts explores the core of the Philippine economy. They ask a pivotal question: Has the Philippines effectively re-entered the vibrant East Asian mainstream? If so, what strategies and priorities are necessary to maintain the strong economic growth seen in recent years?
The book caters to a diverse audience. First and foremost, it engages readers fascinated by this captivating country—a nation whose population now exceeds a hundred million. Secondly, it resonates with the wider development community. These are people eager to grasp the analytical and policy hurdles encountered by democratic, middle-income nations as they work to elevate their citizens out of poverty while pursuing inclusive and environmentally sustainable growth.
Key Themes and Insights:
- Economic Growth and Poverty Reduction: Ramon L. Clarete’s chapter explores the intricate relationship between economic growth and poverty alleviation. It sheds light on strategies to ensure that growth benefits all segments of society.
- Infrastructure and Urbanization: Arturo G. Corpuz delves into the critical role of infrastructure in fostering economic development. The challenges of urbanization and the need for sustainable urban planning take center stage.
- Education and Training: Winfred Villamil emphasizes the pivotal role of education and training in shaping the country’s workforce. A skilled populace is essential for sustained growth.
- Healthcare and Environmental Resilience: Eduardo Banzon and Beverly Lorraine Ho discuss universal health coverage, health security, and resilient health systems. James Roumasset, MajahLeah Ravago, and their co-authors explore environmental shocks and their impact on national well-being.
- Energy Security and Competitiveness: MajahLeah Ravago, Raul Fabella, and their team delve into energy security, competitiveness, and the transition to renewable energy sources.
- Development Finance and Governance: Gilberto M. Llanto examines financing mechanisms for development, while Ronald U. Mendoza and Rosechin Olfindo explore governance and institutional challenges.
Takeaways:
- Holistic Approach: The book underscores the need for a holistic approach, integrating economic, social, and environmental dimensions.
- Inclusive Growth: Policies must prioritize inclusive growth, ensuring that prosperity reaches all corners of society.
- Sustainable Development: Balancing economic progress with environmental sustainability is paramount.
- Effective Governance: Transparent institutions and effective governance are linchpins for success.
Conclusion:
“The Philippine Economy: No Longer the East Asian Exception?” provides a comprehensive roadmap for policymakers, scholars, and anyone intrigued by the Philippines’ economic journey. It’s a compelling narrative of resilience, challenges, and opportunities—a must-read for those invested in the nation’s future.
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Books mentioned in the article: by Ramon L. Clarete, Emmanuel F. Esguerra, Hal Hill
