The economic performance of Central Luzon (1987-1996)
Date
1999-03
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Abstract
This study analyzes the factors contributing to the high level of economic
performance of Central Luzon compared to that of the Philippines for the years 1987 to 1996. Using trend analysis, it was found out that the percentage share of the gross value added ( GV A) of both the industry and agriculture sectors are higher in Central Luzon compared to the Philippines. The service sector of the region on the other hand, still needs to catch up with the national. Although the service sector ranked last, this sector
absorbs a large portion of the region's labor force. The gross regional domestic product (GRDP) of Central Luzon is at par with the National Capital Region and even surpasses the other growth centers of the Philippines. The economic infrastructures in the region are far better than that of the Philippines. All of these can be attributed to the initial conditions which helped increase the level of performance of the region. These are
Central Luzon's abundant natural resources, its strategic location, development programs and entities and the support given to the region by the national and local government
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Keywords
Economic, Luzon