ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Philippines Ten Years after the Asian Crisis

Statistical data indicate that the Philippines has recovered post-2002 from the east Asian financial cataclysm. Recovery has been spurred by services and overseas workers' remittances, but the share of agriculture has declined and the industrial sector has been stagnant. There is also the view that the growth rates of recent years have been overestimated and the effects of the crisis have not been completely erased. This paper points out that there is a need for prudent macroeconomic policies that will help avoid vulnerability and prevent a déjà vu.

GNP/Capita GDP/Capita oo
50 1954 1958 1962 1966 1970 1974 1978 1982 1986 1990 1994 1998 2002 20
Capital Formation Exports Imports
Savings Investments
Service
Unemployment GDP Growth
Number of Months of Imports
GDP Per Capita Growth Current Account Balance
Agriculture
y
Domestic Credit M2
Economic Services Interest Payments
Net Lending Defence

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