Export promotion via industrial enclaves: The Philippines’ Bataan export processing zone
研究菲律宾巴丹出口加工区的经济效果，发现其虽带来就业和外汇收益，但因选址导致公共基础设施投资过重，且区内企业投资多由国内政府担保借款融资，整体效益被抵消。
The economic merits of export processing zones as a form of export promotion are studied in this article by focusing upon a large, long‐established zone in the Philippines. It is shown that although the absence of trade duties and other regulations led the zone to generate significant benefits for the Philippines, through employment and foreign exchange earnings, this was outweighed by the heavy public infrastructure investment necessitated by the choice of location. Moreover, although firms occupying the zone are predominantly foreign, over 90 per cent of their investment was financed by government‐guaranteed borrowings at controlled interest rates from within the Philippines.