The Philippine economy in a Global context - evidence in a global context - evidence from governance indicators

Abstract

The paper assesses the state of governance in the Philippines by comparing it with other countries utilising nine indicators relating to political, economic and social governance. The main finding is that the Philippines receives high scores for economic governance and relatively low scores for political and social governance. The study also correlates these indices with GDP per capita and economic growth, so as to comment on the presumption that good political, economic and social governance is associated with these two variables. All the nine governance scores are positively associated with GDP per capita, but not with economic growth. The paper summarises the main findings derived from the indicators, on the basis of which it proposes a number of implications relating to the Philippine economy.