Correlates of High Technology Exports Performance in the Philippines

摘要

This study presents empirical evidence among the predictor variables of foreign direct investment (FDI), energy investment, official development assistance, and gross domestic product (GDP) which have a bearing on the growth of high technology exports in the Philippines. Data sets of indicators used in the study had been downloaded from the World Development Indicators website covering the period 1991-2016. The data were processed and analyzed utilizing the symbolic regression analysis through machine learning, the Nutonian Eureqa Desktop. The results of the study revealed that foreign direct investment and official development assistance have significant contributions to the development and manufacture of export-driven commodities classified by the Organization of Economic Cooperation and Development as high technology exports. On the other hand, the gross domestic product has a negative impact while energy investment has no contribution to exports development at all. Further, the results likewise demonstrated that strong causal relationships between high technology exports and the variables evidenced by a very high R2 goodness of fit of 0.82 signifying 82% of variations in high technology exports could be explained by the predictor variables included in the transfer. The study concluded that two relevant information was obtained. First, the indicator of official development assistance is only suitable in the short run period. Second, the gross domestic product will continue to decline if continuous trade deficit pervades in the long run period.