Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines

IMF Working Papers, December 1, 1996

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Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines

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Bibliographic details

• Authors: Delano Villanueva
• Published: December 1, 1996
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451929461.001

Paper objective and model scope

• Proposes a model of endogenous economic growth and distribution that explicitly incorporates social extraction and political competition.
• Major objective: to explain developments in the distribution of national income and wealth and in the growth rate of per capita capacity output.
• Application: Philippine historical experience.

Key findings and calibration results

• When calibrated, the proposed model is found to be consistent with the broad contours of Philippine macroeconomic history.
• The model addresses:
  • distribution of national income and wealth,
  • growth rate of per capita capacity output,
  • roles of social extraction and political competition in shaping distribution and growth outcomes.

Subjects and keywords (as listed)

• Subject: Competition, Financial markets, Fiscal policy, Income, Income distribution, Labor, National accounts, Personal income
• Keywords: Competition, extraction rate, factor share, group income, Income, Income distribution, income share, physical capital, production function, real wage, retention rate, retention rate b, share of the elite, shares si, wage income, wage rate, WP