What Drives Filipino Firms to Innovate

Innovation is recognized as an important driver of productivity, sustained economic growth, and development. It is also a key to finding enduring solutions to socioeconomic and environmental challenges. Moreover, it serves as the main driver behind the emergence of the Fourth Industrial Revolution that is transforming not only production but also consumption and livelihood (Schwab 2016). With this, the Philippine government devotes an entire chapter in its Philippine Development Plan 2017–2022 to vigorously advance innovation in the country.