Productivity growth is crucial to a country`s future economic prospects. It was behind the spectacular economic performance of East Asian economies, namely, Japan, Taiwan, and recently, Korea. If it is indeed the key to sustained growth and development, policymakers in the Philippines should understand what drives productivity growth in order to introduce appropriate policy measures. This Policy Notes provides part of the answer based on a recent estimation of the determinants of total factor productivity and labor productivity growth.
Productivity Growth as Key Driver of Development: Finding the Right Policy Mix
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