Economics - Philippines Development

Authors Avatar by sally_hope3 (student)

Economics Research Paper

Done by: Anisha Charan (B6)

Discuss 3 factors that may hinder the economic growth/ development of the country that you have visited.

The Republic of The Philippines has a GDP per capita of only US$2,132 (2010) and a population size of 93,616,853, of which, 26.5% of the population live under the poverty line. Accounting for 20% of the gross national product, agriculture is the main source of livelihood for its inhabitants. Previously one of the richest countries in Asia, Philippines is now one of the poorest, but is slowly making its way back up. There are however, some factors hindering its economic growth, specifically in the areas of education, infrastructure and agriculture, which I will discuss in the following report.

Primary and secondary education in the Philippines is free, and quantity-wise, schools are provided with sufficient basic necessities. The problem hence lies in the drastic amount of dropout rates from school (*Refer to pie chart above); only 63% of pupils graduate from elementary, 34% continue to high school and 3% move on to college. This is due to the many disincentives involved in coming to school; families are unable to afford transport to school, school materials, and even breakfast. High school is not compulsory unlike elementary, and responsibilities are the cause for the lower survival rates; a high school girl is needed at home for household chores and to take care of her growing family, while boys at this age would be big and strong enough to help work on farms.

Join now!

The more educated the Filipinos are, the more skilled and efficient the labour force would be, resulting in higher paying jobs leading to alleviation of poverty, as well as resulting in greater chances of economic development. This can occur through the introduction of better technology by educated citizens, and by its employment in production; efficient machinery speeding up production. Transformed into an export-led economy, the demand for skilled labour has increased; if more students drop out, less skilled-force will be produced, affecting the economy greatly. Hence, the large number of dropouts proves to be an immense hindrance in economic growth ...

This is a preview of the whole essay