AMRO：2025年菲律宾基础设施支出的地方财政乘数：区域数据的证据报告（英文版）

Infrastructure development has been central to the Philippines' growth strategy. As national investment remains concentrated in certain regions, assessing how local government capital expenditures affect regional GDP is essential. Using regional data for the Philippines covering 2009-2024, this note finds that higher local infrastructure spending significantly boosts economic growth, consistent with international evidence. In particular, targeting infrastructure spending toward less-devel