Regional Development in the Philippines

These flashcards cover key vocabulary terms related to regional development in the Philippines, including economic theories, policies, and various debates that shape the approach to regional growth.

Neoclassical Economics

An economic theory that focuses on the allocation of resources and the role of supply and demand in maintaining equilibrium in markets.

Regional Disparity

The unequal distribution of resources, economic activities, and wealth across different regions.

Interregional Equilibrium

The state where prices for factors of production and commodities are equal across regions, assumed under perfect mobility.

Decentralization

The distribution of decision-making governance closer to the people or local authorities rather than a central authority.

Agricultural Development vs. Industrial Development

The debate on prioritizing development in agriculture or industry for economic growth, especially in developing countries.

Urbanization

The process where an increasing percentage of a population lives in cities and urban areas, often associated with industrialization.

Growth Poles

Specific areas in a region where economic activities are concentrated and can stimulate surrounding areas through positive spillover effects.

Investment Incentives Act (RA No. 5186)

A law that established the Board of Investments in the Philippines and provided incentives for industries qualifying for registration.

Agro-Industrial Development

An approach that combines agricultural and industrial development to enhance productivity and economic growth.

National Capital Region (NCR)

The region in the Philippines that encompasses Metro Manila, which is the economic, political, and cultural center of the country.

Regional Development Authorities (RDAs)

Government bodies established to implement and manage programs for regional development, focusing on area-specific plans.

Poverty Alleviation

Strategies and policies aimed at reducing poverty, improving living standards, and promoting economic growth.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Infrastructure Development

The construction and improvement of foundational services such as roads, bridges, water systems, and public transport essential for economic development.

Smart City Principles

An integrated approach to urban planning emphasizing advanced technology, sustainability, and livable spaces.

Research Issues in Regional Development

Key areas of investigation needed to advance knowledge, impact policy, and improve regional development effectiveness.

Economic Agglomeration

The clustering of industries and organizations in a particular area, resulting in increased productivity, efficiency, and innovation.