DEVELOPMENT ECONOMICS

Submitted to: Prof Cherrie Nuez

Name: Padora, Micahella T.

Student No: 2021-03246
Class /Section: ECO 4112-2
HW No. 4
Date Due NOVEMBER 26, 2023
Date Submitted NOVEMBER 23, 2023
Word count: _350__ out of max 350 words

Write your essay here. Use Arial 12 font. Single space. Justify. Max of 350 words
The history of the Philippines is shaped by diverse foreign influences. Initially, the
Spanish introduced their language, religion, and culture. This was followed by the
Americans who significantly impacted the education system, government, and lifestyle.
Briefly, Japan also held sway, leaving an imprint on the nation's historical narrative.
Each of these influences profoundly transformed the cultural, societal, and political
fabric of the Philippines.
The dependency theory, as proposed by Andre Gunder Frank, stands as the most
suitable strategy for the Philippines to adopt. This theory presents a world system
divided into three main sections: core, periphery, and semi-periphery countries. Each
category has a unique role within the global economic system. In this context, the
Philippines is characterized as a periphery country, as defined by the Recipro. As a
periphery country, the Philippines is a source of cheap labor, which it offers to other
countries. This economic positioning is reflected in the large number of overseas
Filipino workers, which currently stands at approximately 1.96 million. Workers spread
across different countries significantly contribute to the Philippine economy through
remittances. This outsourced labor model heavily influences the economic structure,
reinforcing the Philippines as a periphery country in line with Andre Gunder Frank's
dependency theory.
The main thought behind this theory is that in order to attain development, developing
countries have to withdraw from capitalist countries. According to Randolf S. David from
the University of the Philippines, the Philippines has been stagnant and unprogressive.
This is because of the so-called dependency theory, which “traces the roots of
backwardness and underdevelopment to a country’s increasing integration into the
vicious circuit of foreign capital, technology, and markets.” As transnational companies
and multinational companies enter the country, there’s a possibility that somehow they
will control the economy as well.
The Philippine economy has been significantly influenced by colonizers and dominant
countries. However, many factors should be considered when developing a country,
including its diverse geography, culture, and governance. These elements serve as the
foundational building blocks that shape a country's economic trajectory and determine
its potential for growth and progress.
DEVELOPMENT ECONOMICS
Submitted to: Prof Cherrie Nuez

Sources/ Reference Materials

E Wayne Nafziger. (2006). *Economic development*. Cambridge University Press.

https://www.researchgate.net/publication/
352993276_Philippines_and_Underdevelopment_-
_Final_Paper_for_Readings_in_Philippine_History

*Philippines: number of OFWs 2022*. (n.d.). Statista. Retrieved November 23, 2023,
from https://www.statista.com/statistics/1287067/philippines-number-of-overseas-
filipino-workers/#:~:text=Number%20of%20overseas%20workers%20from%20the
%20Philippines%202017-2022&text=Between%20April%20and%20September
%202022

*‌ World Systems Theory · Recipro: The history of international and humanitarian aid*.
(n.d.). Omeka.uottawa.ca. Retrieved November 23, 2023, from
https://omeka.uottawa.ca/recipro/items/show/305#:~:text=Periphery%3A
%20Bangladesh%2C%20Benin%2C%20Bolivia

DO NOT REMOVE THIS PART!

Teacher assessment
Criterion Score Teacher Grade Teacher
Comments
TERMINOLOGY 3
The student uses
appropriate economic
terminologies
APPLICATION 5
The student
recognises or
understands and
applies appropriate
economic information
in the context of the
topic being studied/
question being asked.
EVALUATION 10
The student
DEVELOPMENT ECONOMICS
Submitted to: Prof Cherrie Nuez

synthesises her or his

analysis in order to
make judgements that
are supported by
reasoned arguments.
FORMAT & 2
SOURCES
-word count
- crediting sources
using APA format
TOTAL 20

Raw Mark Value/ Rating

20 -19 5 /Outstanding
15-18 4 / Good
10-14 3/ Satisfactory
5-9 2 / Poor
1-4 1 /Dreadful
No submission 0