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The Philippine EconomyDevelopment, Policies, and Challenges$
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Arsenio M. Balisacan and Hal Hill

Print publication date: 2003

Print ISBN-13: 9780195158984

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0195158989.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 25 June 2021

Political Economy

Political Economy

(p.45) 2 Political Economy
The Philippine Economy

Emmanuel S. de Dios

Paul D. Hutchcroft

Oxford University Press

Provides a brief account of major historical trends in the Philippine political economy. It begins by examining the character of the economic elite that emerged during the country's integration into the world economy in the nineteenth century. It focuses particular attention on the period since 1986 and argues that political and institutional factors are central to understanding the uneven and often lagging character of Philippine economic performance. Four political regimes have been surveyed, each with its notable strengths and weaknesses: (1) Aquino's “modest revolution;” (2) Ramos administration characterized as one of “building reform momentum;” (3) the “flawed experiment” of the Estrada administration; and (4) the “dilemma of normalcy” under the Macapagal–Arroyo administration.

Keywords:   Aquino administration, economic reform, Estrada administration, institutional reforms, Macapagal–Arroyo administration, Marcos administration, political economy, Ramos administration

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