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

December 1, 1996

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Format: Chicago

Delano Villanueva. Social and Political Factors in a Model of Endogenous Economic Growth and Distribution: An Application to the Philippines, (USA: International Monetary Fund, 1996) accessed November 14, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper proposes a model of endogenous economic growth and distribution explicitly incorporating social extraction and political competition, with an application to the Philippine historical experience. The major objective is to explain developments in the distribution of national income and wealth and in the growth rate of per capita capacity output. When calibrated, the proposed model is found to be consistent with the broad contours of Philippine macroeconomic history.

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

Publication Details

Pages:

44
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1996/139
Stock No:

WPIEA1391996
ISBN:

9781451929461
ISSN:

1018-5941

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