Title Page
ABSTRACT
Contents
Abbreviations 10
1. INTRODUCTION 12
1.1. Research Objectives 12
1.2. Scope 12
1.3. Data and Methodology 13
1.4. Background 14
1.4.1. Historical Context of SEZs in the Philippines 15
1.4.2. Income Inequality in the Philippines 19
2. LITERATURE REVIEW 21
2.1. Conceptual Framework: Kuznets' Inverted-U Curve and Income Inequality 21
2.2. Drivers of Income Inequality in the Philippines 24
2.3. Studies on the Impact of SEZs on Income Inequality in Other Countries 35
2.3.1. Cases of SEZs Decreasing Income Inequality 35
2.3.2. Cases of SEZs Increasing Income Inequality 37
2.3.3. Cases of SEZs Having No Impact on Income Inequality 40
2.4. Key Findings and Research Gaps 41
3. RESEARCH METHODOLOGY 43
3.1. Statistical Analysis and Hypotheses 43
3.1.1. Selection of Independent Variables 44
3.1.2. Correlation Analysis 46
3.1.3. Linear Regression 47
3.1.4. Panel Data Regression Analysis 47
3.2. Contents of Case Study 50
3.3. Data Validity and Limitations 51
4. DATA ANALYSIS AND INTERPRETATIONS 52
4.1. Statistical Analysis Results 52
4.1.1. Correlation Analysis 53
4.1.2. Linear Regression 54
4.1.3. Panel Data Regression 56
4.1.4. Investigating the Inverted-U Curve 58
4.2. Case Study: Clark Freeport Zone and Clark Special Economic Zone 62
4.2.1. Background of Clark Freeport Zone and Clark Special Economic Zone 62
4.2.2. Economic Impact of Clark Freeport Zone and Clark Special Economic Zone 64
4.2.3. Challenges and Impact on Intra-regional Income Inequality 66
4.3. Interpretation of Results 69
5. CONCLUSIONS 71
5.1. Policy Recommendations 71
5.2. Recommendations for Future Studies 75
BIBLIOGRAPHY 78
Annex A: Regional Gini Coefficient 2000-2021 87
초록 88
Table 1. Total Approved Foreign Investments by Investment Promotion Agency from 2010-2022 (in million PHP - current prices) 17
Table 2. Total Number of Workers and Exports Generated by PEZA SEZs 18
Table 3. Variables in the Regression Equation 49
Table 4. Correlation between SEZs and Gini Coefficient 54
Table 5. Linear Regression 55
Table 6. Panel Data Regression 57
Table 7. Quadratic Regression between Gini and GRDP 61
Table 8. Total Approved Foreign Investments Generated by Clark Development Corp. from 2002-2022 (in million Php - current prices) 65
Table 9. Export Value, Number of Workers and Locators in Clark Freeport and Special Economic Zone 65
Figure 1. Scatter Plot - Gini Coefficient and Number of SEZs 54
Figure 2. Scatter Plot GRDP and Gini Coefficient 61
Figure 3. Map of Clark 63