The Multi-Dimensional Country Review (MDCR), a new tool, is well-suited for use in a country with a multi-faceted economy and multiple opportunities and challenges, such as the Philippines. The tool blends the strengths of proven and well known OECD analytical instruments.
The MDCRs will look at the following multiple objectives:
In pursuing these objectives, it will be important to consider the well-being of citizens as improving their well-being represents the ultimate goal of economic development. It is also important to consider the political constraints the policies are likely to face.
The Review will follow a rigorous framework where diagnosis leads to the identification of binding constraints to the multiple objectives of development. In-depth analyses will then be conducted to identify cross-cutting interactions among policy areas and to tackle the binding constraints on multiple perspectives. Thus the features of
MDCR takes into account the country-specific policy environment and therefore adopt a country-specific decision tree to serve as a basis for the diagnosis leading to the identification of the binding constraints to development. This way, country’s institutions and policy setting will be accounted for when considering interactions across policy areas. Moreover, to better account for such interactions, cross-cutting issues will be analysed in depth. This approach, in contrast to the sectoral focus used in most other similar work, will allow for adoption of consistent policies in different areas of economic activity and for taking into account complementarities and trade-offs.
The OECD and ADB are well placed to help the government of the Philippines to navigate its economy through the still uncertain waters of the global economy. With an arsenal of best practices, the OECD and the ADB are ready to put its experts at the disposal of the Philippines to support the country’s quest for sustainable and inclusive growth. The MDCR for the Philippines will be a collaborative effort of the Philippine government (in particular, the National Economic and Development Authority, NEDA), the ADB (in particular, the Philippines Country Office) and the OECD.