This is a re-posted opinion piece.
The Philippines has been quite successful in taking advantage of opportunities offered by the global labor markets probably more than have many other developing countries. Thanks to its wide bench of human capital formed by prior decades of investment in education which, in turn, had been motivated by the value Filipino families ascribe to schooling.
Unfortunately, however, migration has been dictated by necessity — not by choice — owing to past policy failures on both the demand side (labor-absorbing economic growth) and supply side (population growth) of the labor market in the domestic economy. What should have been just an interim reliance on migration and remittances while policy reforms were supposed to be taking place appear to have become a staple of the economy.
Read the full article: http://www.bworldonline.com/content.php?section=Opinion&title=Remittances,-inclusive-growth&id=49329
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By: Ernesto M. Pernia – Introspective
Source: Business World, April 1, 2012
To view the original article, click here.
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