" “If we step away from the cyclicality, there are two ways economies can grow; either add more people to the production line via growth in the working population, or make each individual more productive,” the report says.
In other words, demographics – the size of your working population – along with the opportunities to flex that muscle help determine long-term economic trends. Big factors on the back half of that equation: Education opportunities, democratic governments or strong rule of law (a caveat that explains China and Saudi Arabia’s high placement).
“We openly admit that behind these projections we assume governments build on their recent progress and remain solely focused on increasing the living standards for their populations,” the report says. “Of course, this maybe an overly glossy way of viewing the world.” (Voigt, 2012) "
Capacity development is about the strengthening of capabilities at three levels: individuals, organisations and societies (UNDP, 2008). In order for Philippines to really rise among the nations, it needs to continue to build on its infrastructure to develop capacities for its people.
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UNDP (2008), Capacity Development Practice Note. New York
URL: http://www.undp.org/capacity/library_policynotes.shtml
Voigt, Kevin (2012), World's top economies in 2050 will be...
URL: http://business.blogs.cnn.com/2012/01/12/worlds-top-economies-in-2050-will-be/
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