THE PHILIPPINE ECONOMY: DEVELOPMENT, POLICIES, AND CHALLENGES IR-459 Group 1 Members: Cuyugan, Laurice Lanuza, Jason Noble,

Noble, Reinessa Rivo, Erika Jael Sison, Wilhensy Valdeavilla, Matthew

CHAPTER 2- POLITICAL ECONOMY

I. Introduction II. The Modern Philippine Economy A. Under the American Colonization 1. Economic transition to independence B. Post-Independence 1. Controls and import substituting industrialization C. Marcos Regime 1. Decontrol with inward looking industrialization 2. Outward-looking liberalization III. The Modest Revolution: The Aquino Period A. Constitutional and Political Reforms 1. Institutional reforms B. Socio-economic Programs 1. Economic management 2. Agrarian reform 3. Natural Disasters and calamities a. The beginning of economic liberalization C. Legacy 1. 1992 Presidential Election

2. Post-Presidency and Political Activism IV. Building Reform Momentum: The Ramos Administration A. Factors of Economic Reforms B. Philippines 2000 C. Measures of Economic Liberalization 1. International commitments to ASEAN and WTO V. The Flawed Experiment: Estrada Administration A. Estrada's victory 1. Politics of personality 2. Midnight cabinet B. Economic performance -the benefits of the past liberalization C. Political crisis 1. Jueteng 2. First impeachment of a president VI. People Power A. Cause of People Power B. Sequence of Events during People Power C. Effects of People Power D. Changes in the Institutions of the Philippines VII. The Dilemma of Normalcy: The Macapagal-Arroyo Administration A. Political and Economic Conditions B. Representation of the Macapagal-Arroyo Cabinet 1. Corruption 2. Macroeconomic Management a. Inflation 3. Economy a. Philippine Exports C. Periodic Threats of Pro-Estrada Forces D. Economic Growth 1. Structural Problems E. Weakening World Economy F. President's alliances and appointments 1. The Military and the Police VIII. Conclusion