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The Role of Science, Technology and Research in Economic Development

Author

Listed:
  • Ramon L. Clarete

    (School of Economics, University of the Philippines Diliman)

  • Ernesto M. Pernia

    (School of Economics, University of the Philippines Diliman)

  • Ammielou Gaduena

    (School of Economics, University of the Philippines Diliman)

  • Adrian Mendoza

    (School of Economics, University of the Philippines Diliman)

Abstract
Starting with the premise that technological innovation and economic growth are interactive and mutually reinforcing, this paper argues that in order to have a fighting chance in the Asean Economic Community (AEC), let alone global, competition, the Philippines (PH) needs to appreciably ramp up investment spending in science, engineering, and research and development. To the extent that this is achieved – along with the other ongoing policy and institutional reforms – the economy could in time be on a stronger platform to face up to AEC challenges. The paper first revisits PH’s macro-economy, poverty, and economic sectors vis-à-vis its Asean and East Asian neighbors. Next, it examines PH’s regional and global competitiveness. Then, it looks into the country’s current human resource and intellectual capital investments, mainly in higher education and technical/vocational training, as well as in R&D and innovation. A more focused discussion on the University of the Philippines – the “national university” – vis-à-vis its comparators in AEC, including ways to improve its competitiveness, follows. The final section concludes with some recommendations.

Suggested Citation

  • Ramon L. Clarete & Ernesto M. Pernia & Ammielou Gaduena & Adrian Mendoza, 2014. "The Role of Science, Technology and Research in Economic Development," UP School of Economics Discussion Papers 201407, University of the Philippines School of Economics.
    • Handle: RePEc:phs:dpaper:201407
    as

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    File URL: http://www.econ.upd.edu.ph/dp/index.php/dp/article/view/1459
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    References listed on IDEAS

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    More about this item

    Keywords

    Science and technology (S & T); Research and development (R & D); Economic development; Higher education institutions (HEIs); Economic integration; Asean; Philippines;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O - Economic Development, Innovation, Technological Change, and Growth
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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