Discussants:
Prof. Randolf S. David, Professor, UP Department of Sociology
Prof. Florin T. Hilbay, Professor of Law, UP College of Law
The record of growth will show that the quality of institutions represents a significant hindrance to growth and development. In particular, political uncertainty and the failure to control corruption can be empirically shown to discourage investment in the recent period. The deeper issue, however, is why Philippine institutions are what they are, and by what means they can be reformed. Theory, history, and comparisons with other countries of the region may provide some answers to these questions.