Taking the Right Road to Inclusive Growth

Taking the Right Road to Inclusive Growth Average GDP Growth solid economic growth 5.9% 4.9% 4.8% 2.9% The Philippines needs to industrialize to generate more productive jobs to Filipinos 1.7% ... INDUSTRY 1960s 1970s 1980s 1990s 2000s INCLUSIVE GROWTH MISSING LINK Inclusive growth involves creating productive jobs, expanding access to education and health, and building strong social safety nets Poverty Reduction poverty rates stagnated 26.4% 26.5% Business Process Outsourcing provided an important boost to the economy, but it employs limited number of people 24.9% MODERN SERVICES COMPUTER PARTS 1OUCULTUR JEWELRY 2003 2006 2009 HIGHWAY 7.3% unemployment 101 How can the Philippines do this? Identify products the country can develop with relative ease GOOD red Jápe Better infrastructure LAWS Stronger governance 18.7% underemployment Meet with the private sector to identify obstacles and solve the problems Source: Norio Usui. Taking the Right Road to lInclusive Growth. Asian Development Bank. April 2012. ADB Asian Development Bank FIGHTING POVERTY IN ASIA AND THE PACIFIC wwW.ADB.ORG MODERN SERVICES INDUSTRY Taking the Right Road to Inclusive Growth Average GDP Growth solid economic growth 5.9% 4.9% 4.8% 2.9% The Philippines needs to industrialize to generate more productive jobs to Filipinos 1.7% ... INDUSTRY 1960s 1970s 1980s 1990s 2000s INCLUSIVE GROWTH MISSING LINK Inclusive growth involves creating productive jobs, expanding access to education and health, and building strong social safety nets Poverty Reduction poverty rates stagnated 26.4% 26.5% Business Process Outsourcing provided an important boost to the economy, but it employs limited number of people 24.9% MODERN SERVICES COMPUTER PARTS 1OUCULTUR JEWELRY 2003 2006 2009 HIGHWAY 7.3% unemployment 101 How can the Philippines do this? Identify products the country can develop with relative ease GOOD red Jápe Better infrastructure LAWS Stronger governance 18.7% underemployment Meet with the private sector to identify obstacles and solve the problems Source: Norio Usui. Taking the Right Road to lInclusive Growth. Asian Development Bank. April 2012. ADB Asian Development Bank FIGHTING POVERTY IN ASIA AND THE PACIFIC wwW.ADB.ORG MODERN SERVICES INDUSTRY