Research Article

The Impact of Inflation, Unemployment, and Population Growth on Philippine Economic Growth

Authors

  • Katja Jannika Lubbock Department of Economics, University of Santo Tomas, Manila Philippines
  • Marvin Merin Department of Economics, University of Santo Tomas, Manila Philippines
  • Andrew Gonzalez, MBA Department of Economics, University of Santo Tomas, Manila Philippines

Abstract

This study aims to investigate the impacts of inflation, unemployment, and population growth on Philippine economic growth over the period of 1991 to 2020. The data of this study was obtained from the World Bank Open Data. To investigate the impact of the following variables, the researchers will be employing the following tests: a.) Unit Root Test and b.) Johansen Cointegration Test. The findings of this study reveal that The Ordinary Least Square (OLS) results suggest that inflation has a positive impact on economic growth. Meanwhile, unemployment and population growth indicate a negative impact on economic growth. The Unit Root Test confirms that unemployment, population growth, and economic growth are non-stationary while inflation happens to be stationary. However, the 1st difference shows unemployment, population growth, and economic growth became stationary through the Augmented Dickey-Fuller Test. Further, Johansen’s Cointegration Test result shows that the variables are cointegrated, and there is an existence of a long-run relationship.

Article information

Journal

Journal of Economics, Finance and Accounting Studies

Volume (Issue)

4 (2)

Pages

55-64

Published

2022-03-23

How to Cite

Lubbock, K. J., Merin, M., & Gonzalez, A. (2022). The Impact of Inflation, Unemployment, and Population Growth on Philippine Economic Growth. Journal of Economics, Finance and Accounting Studies , 4(2), 55-64. https://doi.org/10.32996/jefas.2022.4.2.5

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