The extinction of a species: trends in the Philippine middle-income class size
Date
2011-10
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Abstract
The middle class has been considered a significant element for the development of many positive national attributes such as democracy, good governance and economic health. However, at present the.re is little consensus as to whether or not the middle class worldwide and in particular the Philippines is undergoing a boom or is gradually collapsing. This study explores the trends in the size of the middle class in the Philippines from 1985 to 2009. By analyzing the fluctuations over the given period, it can be found that the Filipino middle class experienced growth from 1985 to 1997, followed by a decline from 1997 to 2003; following that period up to 2009, the Filipino middle class has remained largely stagnant. Events during the period such as GDP growth or natural calamities were also examined in order to find the reasons behind the shifts in class sizes; in particular, the halt of the expansion of the Philippine middle class was found to coincide specifically with the Asian Financial Crisis. A key factor of consideration was also the possibility of the development of a 'new Philippine middle class': Overseas Filipino Workers and their families. Trend analysis was also conducted betwt:en the size changes in the middle class with the presence of one or more OFWs in the Philippines and it was found that there is a correlation between the two.
Description
Keywords
Middle class, Trends