Open AccessAn Empirical Analysis on the Determinants of the Philippine Economic Growth: 1987-2018
Author(s) -
Stephanie Grace C. Mortera,
Jericho Vince P. Ocampo,
Kristine April Suin
Publication year - 2022
Publication title -
journal of economics finance and accounting studies
Language(s) - English
Resource type - Journals
ISSN - 2709-0809
DOI - 10.32996/jefas.2022.4.2.6
Subject(s) - economics , cointegration , unemployment , consumption (sociology) , unemployment rate , inflation (cosmology) , government (linguistics) , inflation rate , econometrics , johansen test , government expenditure , macroeconomics , demographic economics , error correction model , interest rate , public finance , social science , linguistics , philosophy , physics , sociology , theoretical physics
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.