Reaction Paper

Submitted By zhalepatrix
Words: 631
Pages: 3
Open Document
Sustainability through Governance
The Philippines, widely indicated as the next “Tiger” economy of Asia has recently been in the spotlight for its stellar economic performance. Amid the continuing weakness of the global economy, the country posted a robust economic growth of 6.8% in 2012 and 7.0% as of the 3rd quarter of 2013, maintaining its enviable status as one of the fastest growing Asian economies. There is a need, however, to temper exuberant expectations as the rapid growth has only been very recent. Achieving development requires decades of respectable economic growth and structural transformation.
Why is the country unable to ascend to a higher sustainable growth path? All economies are knocked by external shocks but for post-war Philippines, domestic disturbances were major crises of governance that played a major role in derailing the economy. “Governance,” includes “all aspects of the way a country is governed, including its economic policies and regulatory framework, as well as adherence to the rule of law.” According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), good governance has eight major characteristics: “It is participatory, consensus oriented, accountable, transparent, responsive, effective and efficient, equitable and inclusive and follows the rule of law. It assures that corruption is minimized…” The failure of Philippine governance to fulfill these eight characteristics has time and again triggered socio political commotion with severe economic consequences.
According to my research, the venerable New York has labeled the Philippines as the economic bright spot in Asia, the IMF has singled out the Philippines for being the only country whose growth forecast it has upgraded, and the IMF 2013 growth forecast was set at 4.7 percent earlier on but was revised twice to reach 6 percent this January etc. these assessments are consistent with series of sovereign credit rating upgrades received by the Philippines. All these assessments were driven mainly by the help of five sustainability factors of the Philippine economy that includes: (1) Sustained structural reforms (2) Robust growth and favorable inflation (3) Sound and stable banking system (4) Robust external position (5) Growing third-party recognition (6) Demographic “sweet spot”. However, the improving situation of the economy should not make the public, especially the government, be complacent. There are still a lot of fundamental concerns that needs to be addressed.
There's another factor, which I believe though has remained a concern for the country's long term sustainability is governance. Some
Show More

Related Documents: Reaction Paper

Reaction paper

Journal Review on Counselor Education and Supervision 3 Preparing School Counselors This article looks into how to prepare school counselors for the unprecedented responsibilities and challenges they are required to take on, school counselor education programs must be dramatically transformed. In urban educational settings, the needs for effective school counselors are even more perceptible (Shoffner & Briggs 2002). For instance, urban schools tend to be larger with fewer resources…

Words 1141 - Pages 5

Reaction Paper

Reflection Paper Juli J. McFarland Liberty University May 22, 2014 Abstract This paper will summarize ideas learned while reading chapter 10 of “Christian Counseling Ethics” written by Randolph Sanders. It will discuss care for clients wrestling with homosexual preference. It will also discuss care for clients trying to find their sexuality. The paper will discuss disputes and ethical issues for working with sexual minority clients. It will also discuss embracing multicultural concepts when…

Words 1397 - Pages 6

Reaction Paper

Personal Values January 19, 2014 Personal Values Each person has his or her own personal and professional ethics that identify their personality. Unfortunately, not everyone will share the same style or exhibit the same behavior to fit their surrounding situation. Will you be able to access their kindness, fairness, or trustworthiness just at first sight? Are they aggressive or assertive or just the opposite? The fact is organizations need strong moral and ethical beliefs in order to…

Words 704 - Pages 3

Reaction Paper

Reaction Paper There are plenty of colleges out there too choose from, but there are way more classes. When I first got this assignment, I tried to do the educational plan without having an appointment with my advisor. It turns out that it Is much harder to choose classes on your own because there are so many choices to choose from. Especially depending on what major you choose. My advisor, Dede Dyer, informed me that I could have a major and a minor. The minor could only be acquired when you go…

Words 348 - Pages 2

reaction paper

Reaction Paper 2 To be bias is to simply favor a side and from the day we are born we were taught to discriminate. Sometimes it’s not under our foundation to be taught discrimination since it’s a thing we are taught throughout family, the media, and our social surroundings. In some way we are brain wash to discriminate even with our unconscious mind. As much as we try to defeat the factor of discriminating and being prejudice there’s still an underlining image we still paint in our perspective that…

Words 523 - Pages 3

Reaction Paper

Name : Alex Mayowa Paul. Class Name : Introduction To Psychology. The aim of Milgram’s experiment was to know far people would go in obeying an instruction if it involved harming another person. The procedures included 40 volunteers (male) that were recruited via newspaper ad. Aged ranged from 20 to 50 and their jobs were skilled, semi-skilled and unskilled.They were paid $4.50 for just showing up.The psychologist Stanley Milgram created an electric ‘shock generator’ with 30 switches…

Words 712 - Pages 3

Reaction Paper

A movie about older young adult(late teens), on a trip maybe camping, or to a small town with a lake, or just going out to a day concert at a remote yearly(annual fest) location Maybe a town or location that east of LA, Or san diego small town like barstow(la) or alpine(sd) a town that’s close to a major city. Story develops the young, main character(the alpha male of the group) with his friends driving to the event, conversation in the car, somehow family gets brought up, and when it’s the…

Words 1983 - Pages 8

Reaction Paper

2012 People always decide to get married to have a family then have kids, where they could all grow old together. Nowadays all you see are most teenage women getting pregnant then most of them usually end up being a single parent. Day by day the generation gets worse, less people getting married and more people having kids. In the movie I watched it shows that a group of people put together and organization which consist of trying to get more people to get married. They tried to keep the traditional…

Words 996 - Pages 4

Reaction paper

Kahneman, Daniel (2011). Thinking, Fast and Slow. New York: Farrar, Straus, & Giroux. In part 1 of the book Thinking Fast and Slow, you will immediately learn about how the brain uses two systems to function. System 1 is the automatic or unconscious, and System 2 is the controlled or conscious process. He describes mostly how the System 1 is directing our daily life. Starting off in the first chapter, where we get a brief introduction on what to come later on in the chapters, with the two systems…

Words 513 - Pages 3

Reaction Paper

When thinking about sustainability, I believe a major concept that has to be focused on is having a strong sense of value to everything natural around you. The simple and obvious truth about the environment and all the natural resources is we are quickly running out of natural resources that we desperately need, and we are also having a very negative effect on the environment. We as a community need to have a much strong sense of value to everything that we take for granted. It is difficult to remember…

Words 623 - Pages 3