Social and Political Factors in a Model of Endogenous Economic Growth and Distribution

Download or read book Social and Political Factors in a Model of Endogenous Economic Growth and Distribution written by Delano Villanueva and published by International Monetary Fund. This book was released on 1996-12-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.