Princess Aya B.

Maganaka 3BSMA/B

Reflection on National Differences in Political Economy

We have different countries around the globe which is also differs in political economy where they
develop. The interdependency of political, economic, and legal systems is called political economy.
Political systems encompass the formal institutions and practices that distinguish a government’s
structure within the country. For example, Philippines have democratic political systems. Economic
system shows the type of economies present in the country where it tells if it is market, mixed, and
command that shapes the country’s economic status. A legal system shows how they face legal matters
that need jurisdictions. It has three types namely, common, civic, and theoretic law.

Each country’s political may have similarities and differences from one another. This difference
reflects the culture, tradition, and beliefs of the people in a specific country. The similarities may
sometimes the result of globalization where specific country adopts the political, economic, or legal
systems of other country.

In addition, national differences in political economy may results to identity classification of one
country from the other. It gives a branding-liked for a specific country. I think that this is sometimes the
problem of trading globally because there are specific rules and regulation that a trader should follow.
Moreover, goods and services cannot simply go in and out from one country to the other. Just like
customs that inspects goods before it will go inside the market of the country, strictness is greatly present
in this manner. Furthermore, these differences may cause corruption since bribes are given to the person
who has the authority to let the products enter inside the premises of the country. It is because sometimes
trader cannot meet the limitations that a specific country established.

Lastly, in order to protect the country one should establish rules and regulations that would
reflects to the beliefs, tradition, culture, and so on. It would give advantages and disadvantages to the
other person perspective but that is the result of the decisions that people do. It is not just for specific
number of individuals but for the masses.