The Philippine Industrial Sector: Policies, Programs and Performance

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generally been moving in the right direction, albeit slowly. There seems to be one important lacking ingredient, however, and that is, the closer coordination of economic policies. Many separate elements of the reform program have been instituted at different times since the early 1980s, but the full benefits from them are yet to be felt, largely because they were not accompanied by the necessary macroeconomic policies and other complementary measures. Indeed, the reform program must be moved as a package, because otherwise, the weakest link would put a drag on the whole endeavor to improve the contribution of the industrial sector to the country's development objectives.


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