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Economic Challenges Facing the Philippines

Published online by Cambridge University Press:  07 April 2011

Frank H. Golay
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Extract

The Philippine society confronts formidable longer-term economic problems. The exhaustion of the land frontier suitable for production of present crops under existing techniques, which is compounded by degradation of the environment by wasteful harvesting of forestry resources and over-exploitation of inshore fisheries is an obvious problem. A comparable problem arises in the inertia built into the age structure of the Philippine population. In 1970, those under 15 years of age accounted for 45.6 per cent of all Filipinos and estimated population growth in the 1970s was 2.7 per cent, a rate more than double the “zero-growth rate”. If the growth rate should fall to the “zero-growth rate” tomorrow, the Philippine population would continue to grow for the better part of a century and would virtually double as cohorts of Filipinos entering the reproductive age group would continue to increase for many years.

Type
Articles
Information
Journal of Southeast Asian Studies , Volume 14 , Issue 2 , September 1983 , pp. 254 - 261
Copyright
Copyright © The National University of Singapore 1983

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References

1 New York Times, 1 July 1981, D12. Over the eighteen years of the Marcos regime, the value of the Philippine peso in U.S. dollars has declined by 61 per cent.

2 In the third quarter of 1976 and the first quarter of 1977, the share of total employment contributed by manufacturing relative to the ratio of net value added by manufacturing to net domestic product averaged 55 per cent. R.P., NEDA, 1980 Philippine Statistical Yearbook, Table 1.5, p. 40 and Table 4.12, p. 166.

3 The value of textiles, electronic components and other goods imported on consignment for processing and assembly in Export Processing Zones are included in the value of total Philippine imports. Similarly, the value of goods imported on consignment plus the value added by Philippine labor and other resources processing and assemblying goods imported on consignment are included in the value of Philippine exports.

4 Callison, C. Stuart, Economic Assessment of the New Society and Key Problems and Issues Facing New Republic of the Philippines (USAID Manila, 1 Oct.. 1981), pp. 23–24.Google Scholar