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The Dynamics of
Development
Development is a Sustained Effort
What is Economic Development?
      With      the    construction
  activities going on around us, we
  cannot help but think that the
  country is making great strides
  towards economic growth and
  development.
Indicators of Economic Growth and
            Development
 Factories being built outside Metro Manila.
 Nipa houses are being changed into modest
  concrete houses.
 Television antennas that uses to be
  nonexistent before.
 Infant mortality has gone down
 Farmers used to harvest 25 canvas are now
  harvesting 70 – 90 canvas
Distinction between
GROWTH and DEVELOPMENT




2.GROWTH                1.DEVELOPMENT
                        - Economic Development
- Growth means          means both more output or
increase in output or   production and changes in the
                        technical and institutional
production.             arrangements by which the
                        factors of production are
                        produced and distributed.
3-5Economic Development of any nation can
be characterized by the following:




1.Increases in output   2.Changes in economic 3.Growth has to be
or production has to    structure would spread accompanied by an
 be sustained over a        out in the entire      increase in
 long period of time.          economy.             efficiency.
The Objective of the Development Process:
6.MAN
                     The provision for the social
               overhead capital like roads, bridges,
               railroads, airports, communication
               system and the provision for more
               efficient production process are very
               much needed because of the results
               and objectives for which they are
               built – for the welfare of man.
Increase in Real Income



• Increase in real income represents availability of more goods
  and opportunities for more people.
• We can see that when the necessary social overhead capital are
  provided and better technology and efficiency are worked for,
  real income per person increases.
The Goal of Development



•   With more goods and opportunities provided for more people, the higher will
    be the level of development of more people.
The Human Factor in Economic Development


                   The development of the socio-
               economic welfare of each individual
               person is always the primary
               objective of any economic plan or
               development process.

                   If man is the object of any
               development process, man is also the
               central figure in any development
               process.
Innovation in the Development of Process

 7.Innovation
 – application of the
   stock knowledge to
   the process of
   production.
Innovation in the Development of Process
Characteristics of Less Developed
 Countries
• Many of the presently developing countries are poorer today
  than the presently developed countries at the time they began
  developing.

• Most of the people live in rural areas, and a large part of the
  national income is generated in agriculture.

• Income is more inequitably distributed in developing countries.
Chap. 13. dynamics of development
Structural changes in the Economy




• 8.Structure of the economy
   • Refers to the manner in which the elements or units of the system are related to
     one another and to the whole.
   • For the development to take place, the structure of the economy has to change,
     to change for the better.
Structural changes:
Sustained Increase in Per Capita Real Income


       As we said before, 9.development is
    the process by which the per capita real
    income increase a sustained basis over a
    long period of time.
THE PHILIPPINE RECORD
the performance of the Philippine economy
The Philippines has been performing quite well compared with
these international standards. The allegation that our economic
growth is “low” cannot be accepted. The com-plaints that the real
income in the Philippines is increasing only at 2% and that the
economy is sluggish because because it is growing only at 5% per
year, is not warranted.




                    Average Annual Rate
Major economic Indicators, Philippines,
1999-2003 (%)
ITEM                                    1999   2000   2001    2002   2003

GDP                                     3.4    4.0    3.4     4.0    4.5
Gross domestic investment/GNP           17.8   16.9   16.6    18.0   18.5

Gross national savings/GNP              18.7   21.0   22.1    20.2   19.5
Inflation rate (consumer price index)   6.7    4.4    6.1     5.0    6.0

Money supply (M3) growth                19.3   4.6    6.8     10.0   11.0
Fiscal balance/ GNP                     -3.6   -3.8   -3.8    -3.2   -3.0
Merchandise export growth               19.1   9.0    -16.2   3.0    6.0
Merchandise import growth               4.2    3.8    -6.2    2.5    4.0
Current account balance                 9.2    10.7   6.0     2.0    1.5
Debt servise ratio                      13.4   12.7   16.4    15.0   15
Sectoral Changes in the
 Development Process
Chap. 13. dynamics of development
Chap. 13. dynamics of development

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Chap. 13. dynamics of development

  • 2. Development is a Sustained Effort
  • 3. What is Economic Development? With the construction activities going on around us, we cannot help but think that the country is making great strides towards economic growth and development.
  • 4. Indicators of Economic Growth and Development  Factories being built outside Metro Manila.  Nipa houses are being changed into modest concrete houses.  Television antennas that uses to be nonexistent before.  Infant mortality has gone down  Farmers used to harvest 25 canvas are now harvesting 70 – 90 canvas
  • 5. Distinction between GROWTH and DEVELOPMENT 2.GROWTH 1.DEVELOPMENT - Economic Development - Growth means means both more output or increase in output or production and changes in the technical and institutional production. arrangements by which the factors of production are produced and distributed.
  • 6. 3-5Economic Development of any nation can be characterized by the following: 1.Increases in output 2.Changes in economic 3.Growth has to be or production has to structure would spread accompanied by an be sustained over a out in the entire increase in long period of time. economy. efficiency.
  • 7. The Objective of the Development Process: 6.MAN The provision for the social overhead capital like roads, bridges, railroads, airports, communication system and the provision for more efficient production process are very much needed because of the results and objectives for which they are built – for the welfare of man.
  • 8. Increase in Real Income • Increase in real income represents availability of more goods and opportunities for more people. • We can see that when the necessary social overhead capital are provided and better technology and efficiency are worked for, real income per person increases.
  • 9. The Goal of Development • With more goods and opportunities provided for more people, the higher will be the level of development of more people.
  • 10. The Human Factor in Economic Development The development of the socio- economic welfare of each individual person is always the primary objective of any economic plan or development process. If man is the object of any development process, man is also the central figure in any development process.
  • 11. Innovation in the Development of Process 7.Innovation – application of the stock knowledge to the process of production.
  • 12. Innovation in the Development of Process
  • 13. Characteristics of Less Developed Countries • Many of the presently developing countries are poorer today than the presently developed countries at the time they began developing. • Most of the people live in rural areas, and a large part of the national income is generated in agriculture. • Income is more inequitably distributed in developing countries.
  • 15. Structural changes in the Economy • 8.Structure of the economy • Refers to the manner in which the elements or units of the system are related to one another and to the whole. • For the development to take place, the structure of the economy has to change, to change for the better.
  • 17. Sustained Increase in Per Capita Real Income As we said before, 9.development is the process by which the per capita real income increase a sustained basis over a long period of time.
  • 18. THE PHILIPPINE RECORD the performance of the Philippine economy
  • 19. The Philippines has been performing quite well compared with these international standards. The allegation that our economic growth is “low” cannot be accepted. The com-plaints that the real income in the Philippines is increasing only at 2% and that the economy is sluggish because because it is growing only at 5% per year, is not warranted. Average Annual Rate
  • 20. Major economic Indicators, Philippines, 1999-2003 (%) ITEM 1999 2000 2001 2002 2003 GDP 3.4 4.0 3.4 4.0 4.5 Gross domestic investment/GNP 17.8 16.9 16.6 18.0 18.5 Gross national savings/GNP 18.7 21.0 22.1 20.2 19.5 Inflation rate (consumer price index) 6.7 4.4 6.1 5.0 6.0 Money supply (M3) growth 19.3 4.6 6.8 10.0 11.0 Fiscal balance/ GNP -3.6 -3.8 -3.8 -3.2 -3.0 Merchandise export growth 19.1 9.0 -16.2 3.0 6.0 Merchandise import growth 4.2 3.8 -6.2 2.5 4.0 Current account balance 9.2 10.7 6.0 2.0 1.5 Debt servise ratio 13.4 12.7 16.4 15.0 15
  • 21. Sectoral Changes in the Development Process