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

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Series:
IMF Working Papers
Volume/Issue:
Volume 1996: Issue 139
Language:
English
Publication Date:
01 Dec 1996
DOI:
https://doi.org/10.5089/9781451929461.001
ISBN:
9781451929461
ISSN:
1018-5941
Pages:
44
Keywords:
WP; production function; physical capital; real wage; extraction rate; group income; income share; shares si; retention rate b; wage rate; wage income; share of the elite; retention rate; factor share; Income; Income distribution; Competition
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund