Technical progress in agriculture, income distribution and economic policy : the Philippines, 1950-80
Successive Philippine governments since world war II have pursued a development strategy predicated upon industrial growth. Through such policy instruments as exchange rate overvaluation, tariffs on imports of consumer goods, and export taxes on agriculture, capital has been directed into industry - and especially the manufacturing sector - both from abroad and from out of agriculture. The growth of the protected industrial sector has been achieved at the cost of periodic trade balance...[Show more]
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