Research Article

An Empirical Analysis on the Determinants of the Philippine Economic Growth: 1987-2018

Authors

  • Stephanie Grace C. Mortera Department of Economics, Faculty of Arts and Letters, University of Santo Tomas, Manila, Philippines
  • Jericho Vince P. Ocampo Department of Economics, Faculty of Arts and Letters, University of Santo Tomas, Manila, Philippines
  • Kristine April Suin Professor, Department of Economics, Faculty of Arts and Letters, University of Santo Tomas, Manila, Philippines

Abstract

The impending unemployment situation in the Philippines is dreadful to the economic development. The study aims to formulate an econometric model for the determinants of economic development. This paper may be a new approach in understanding the inter-dependencies between the economic forces, but using a local region does prove that there are new insights regarding the economic factors in the Philippines. The results show that an increase/decrease in Labor Force Participation Rate (female) and General Government Final Consumption Expenditure increases/decreases in Unemployment Rate Among Female approximately. In contrast, an increase in the Inflation Rate decreased in Unemployment Rate Among females. The analysis uses E-views version 11 and 12. The results show a significant relationship between Unemployment Rate Among females and Labor Force Participation Rate (female), Inflation Rate, and General Government Final Consumption Expenditure using Multiple Linear Regression Analysis and Autocorrelation. Moreover, Johansen Cointegration Test proves a long-run relationship among the variables. The authors suggest that the analysis is imperative to help the economy maintain a high standard level and can be used by the government to implement policies that specifically highlight the role of women in economic growth.

Article information

Journal

Journal of Economics, Finance and Accounting Studies

Volume (Issue)

4 (2)

Pages

65-77

Published

2022-03-25

How to Cite

Mortera, S. G. C., Ocampo, J. V. P., & Suin, K. A. (2022). An Empirical Analysis on the Determinants of the Philippine Economic Growth: 1987-2018. Journal of Economics, Finance and Accounting Studies, 4(2), 65–77. https://doi.org/10.32996/jefas.2022.4.2.6

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Keywords:

Unemployment Rate Among Female, Labor Force Participation Rate (female), Inflation Rate, General Government Final Consumption Expenditure, Economic Development, Johansen Cointegration Test