1. Research and read about inward and outward growth.

2. Write a POSITION ESSAY on whether the Philippines will follow an inward or

outwardly growth (40 points)
a. Introductory Paragraph - 10 points
b. Supporting Arguments - 10 points
c. Concluding Paragraph - 10 points
d. References and Proper Citation - 10 points

In exploring the trajectory of economic growth for the Philippines, a critical

inquiry emerges: Will the nation pursue a path of inward or outward growth? This
question lies at the heart of discussions surrounding economic development, trade
policies, and globalization. Advocates for inward growth argue for a focus on domestic
production, fostering local industries, and reducing dependence on foreign markets.
Conversely, proponents of outward growth emphasize the benefits of international
trade, foreign investment, and global integration. As the Philippines stands at a
crossroads of economic strategy, this position essay aims to examine the merits and
drawbacks of each approach, ultimately offering insights into the most viable path
forward for the nation's prosperity.

Research has shown that both inward and outward operations can significantly
impact firm growth (Hernández, 2016). Outward foreign direct investment (FDI) has
been found to have a positive association with economic growth (Herzer, 2010). In the
case of China, the transition to a growth model that "looks inward" has been identified
as a potential source of transformative growth, driven by expanding consumption and
home investment (Tyers, 2012; Tyers, 2014). The Philippines has experienced a mix of
inward and outward growth, with a focus on trade and investment policies (Austria,
1998). Despite challenges such as natural disasters and global economic volatility, the
country has sustained high growth, driven by consumption, services, and investments
(Limkin, 2014). However, there are concerns about the sustainability of this growth,
particularly in terms of inclusive development (Navarro, 2012). The country's economic
performance has been strong, with exports driving growth, but there are signs of a
slowdown in investment and consumption (Hansl, 2018).

In conclusion, the exploration of inward and outward growth strategies

illuminates the complexities inherent in the Philippines' economic trajectory. While
research indicates the potential benefits of both approaches, it is clear that the
country's unique circumstances necessitate a nuanced understanding. The Philippines
has historically pursued a combination of inward and outward growth, leveraging trade
and investment policies to drive economic expansion. Despite challenges such as
natural disasters and global economic volatility, the nation has sustained
commendable growth, propelled by consumption, services, and investments. However,
questions linger regarding the sustainability and inclusivity of this growth, urging
policymakers to prioritize strategies that foster broad-based prosperity. As the
Philippines navigates the evolving dynamics of the global economy, it must strike a
delicate balance between nurturing domestic industries and capitalizing on
international opportunities. By adopting a holistic approach that integrates the
strengths of both inward and outward strategies, the nation can forge a path toward
enduring economic resilience and equitable development, ensuring a prosperous future
for all its citizens.

REFERENCES:
Hernández, V., & Nieto, M. J. (2016). Inward–outward connections and their impact on
firm growth. International Business Review, 25(1, Part B), 296–306.
https://doi.org/10.1016/j.ibusrev.2015.05.009
Herzer, D. (2010). Outward FDI and economic growth. Journal of Economic Studies,
37(5), 476–494. https://doi.org/10.1108/01443581011075424
Tyers, R. (2012). 2. Looking Inward for Growth. Retrieved February 6, 2024, from
https://press-files.anu.edu.au/downloads/press/p182431/pdf/ch021.pdf
Tyers, R. (2014). Looking inward for transformative growth. China Economic Review,
29, 166–184. https://doi.org/10.1016/j.chieco.2014.04.004
Austria, M. S. (1998). Productivity Growth in the Philippines After the Industrial
Reforms. Semantic Scholar.
https://www.semanticscholar.org/paper/Productivity-Growth-in-the-Philippines-
After-the-Austria/21730c6620a75ec1402f57a43ccd2fc407d9bcfe
Limkin, J. L. C., Mariano, P., Sabarillo, A., Kaiser, K., Chua, K., Cruz, K. G., & Johnston,
A. (2014, March 1). Philippine economic update : pursuing inclusive growth
through sustainable reconstruction and job creation. Semantic Scholar.
https://www.semanticscholar.org/paper/Philippine-economic-update-%3A-purs
uing-inclusive-and-Limkin-Mariano/6c23c67a808cbde33bb33dfb506a8c605ce8
992f
NAVARRO, A. M. (2012). Achieving Inclusive Growth in the Philippines. East Asian
Policy, 04(04), 75–83. https://doi.org/10.1142/s1793930512000384
Hansl, B., Diop, N., Chua, K.C., Cruz, K.T., Qian, R., Endo, I., Demombynes, G., Luo,
X., & Piza, S.F. (2018). Philippines economic update : investing in the future.
https://www.semanticscholar.org/paper/Philippines-economic-update-%3A-inv
esting-in-the-Hansl-Diop/85db952e6e6ea98a50abdd50979794b2f42aa3b4