The Economy of the Philippines: Elites, Inequalities and Economic Restructuring

By Peter Krinks | Go to book overview


3

Dispar ities in development at the end of the twentieth century

This chapter examines the country's economic recovery from crisis, in relation to international linkages and to the regional and social distribution of the benefits of economic activity. The discussion begins at the national level before disaggregating general measures of activity to reveal disparities.


International setting

For a country wanting to recover from crisis, trends in the East Asian region seemed ideal in the late 1980s. After the 1985 Plaza Accord raised the value of the yen against the United States dollar, a surge of international investment and trade lifted the economic growth rates of several Southeast Asian countries (excluding the Philippines) to more than 6 per cent yearly. Firms in Japan and other advanced capitalist countries were taking advantage of financial deregulation and improved technology (including some which could be used by workers with limited skills) to increase operations in countries with less regulated and lower cost labour markets. Firms in the Republic of Korea and Taiwan too were seeking alternatives to their higher-wage and increasingly polluted settings. They sought skilled workers, political stability and a fair quality of physical infrastructure. The Philippines scored reasonably well on the first but not on the last two counts.

Negotiations under the General Agreement on Tariffs and Trade (GATT), and its successor the World Trade Organization (WTO), increased openness and competition in the world economy. Regional agreements such as the ASEAN Free Trade Area (AFTA) and forums such as APEC (Asia Pacific Economic Cooperation) had a similar effect. The WTO covered increasingly more activities, from agriculture and garments industries to trade-related aspects of intellectual property rights (TRIPS) and of investment measures (TRIMS). Many people in less developed countries (LDCs) in particular feared these would entrench the advantages of companies based in rich countries, but the only success of those opposing globalization was in delaying progress towards a Multilateral Investment Agreement (MIA). In general, LDCs had little leverage in negotiations because of large foreign debts and imminent difficulties in their balance of payments. Some therefore submitted to structural

-54-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
The Economy of the Philippines: Elites, Inequalities and Economic Restructuring
Table of contents

Table of contents

  • Title Page v
  • Contents vii
  • Figures viii
  • Tables ix
  • Maps x
  • Acknowledgments xi
  • Abbreviations xiii
  • 1 - Understanding Uneven Development in the Philippines 1
  • 2 - The Emergence of the Space Economy 14
  • 3 - Dispar Ities in Development at the End of the Twentieth Century 54
  • 4 - The Impact of Restructuring in the Primary Sector 98
  • 5 - Restructuring in the Industrial Sector 143
  • 6 - Growth and Problems in the Services Sector 188
  • 7 - The Struggle Against Uneven Development 220
  • Appendix I - Presidents of the Philippines 230
  • Appendix II - Official Exchange Rate of Philippine Peso Against Us$1.00 231
  • Notes 232
  • Bibliography 240
  • Index 259
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 262

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.