LAST January, the flagship World Development Report of the World Bank Institute of Economic Development was published in distilled format. The condensed form — courtesy of the Korea Development Institute (KDI) School of Public Policy, the University of Chicago and the Growth Academy — was to provide clear and easy guidelines for policymakers.
Based on the report, I will explain why the Philippines is stuck in the lower-middle-income trap, and what we can do to get out of it.
