The Political Economy of Reform during the Ramos Administration (1992-98)
This paper is one of several case studies prepared for the World Bank. The objective of the case studies is to provide the Commission on Growth and Development insights on the policy reform process in developing countries that give rise to economic...
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| Format: | Working Paper |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/900471468094150283/The-political-economy-of-reform-during-the-Ramos-Administration-1992-98 http://hdl.handle.net/10986/28020 |
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okr-10986-280202021-04-23T14:04:46Z The Political Economy of Reform during the Ramos Administration (1992-98) Bernardo, Romeo L. Tang, Marie-Christine G. ACCESS TO TELECOMMUNICATION ACTION PLAN AGRICULTURAL COMMODITIES AGRICULTURE ARBITRATION AUCTION BACKBONE BENCHMARK BID BIDS BINDING CONSTRAINT BINDING CONSTRAINTS BROKERAGE BUDGET DEFICIT BUDGETARY SUPPORT BUSINESS PROCESS BUSINESSES CALL CENTERS CAPITAL EXPENDITURES CAPITAL FORMATION CELLULAR PHONES CELLULAR SUBSCRIBERS CHECKS CLEARING HOUSE COMMODITY COMMODITY PRICES COMPETITIVENESS CONSUMER GROUPS CREDIBILITY CREDIT RATING CURRENT ACCOUNT BALANCE CUSTOMS DEBT STOCK DEMOCRACY DEREGULATION DEVELOPING COUNTRIES DEVELOPMENT BANK DIAL TONE DIRECT FOREIGN INVESTMENTS DOMESTIC CAPITAL DOMESTIC ECONOMY DOMESTIC INVESTORS DOMESTIC PRICES ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC LIBERALIZATION ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORMS END USER EQUIPMENT EQUITY CONTRIBUTIONS EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTERS EXPORTS EXTERNAL CONSULTANTS FAIR COMPETITION FINANCE CORPORATION FINANCIAL LIBERALIZATION FINANCIAL SERVICES FINANCIAL STATEMENTS FISCAL DISCIPLINE FISCAL POLICIES FIXED CAPITAL FORECASTS FOREIGN CAPITAL FOREIGN DEBT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INTERESTS FOREIGN INVESTMENTS FREE TRADE FREE TRADE AGREEMENT GDP GDP PER CAPITA GLOBAL COMPETITIVENESS GNP GOVERNMENT ASSETS GOVERNMENT DEFICITS GOVERNMENT FINANCES GOVERNMENT OWNERSHIP GOVERNMENT POLICIES GROSS VALUE GROWTH PATH GROWTH RATE IMAGE INCOME INCOME GROWTH INDEPENDENT REGULATORY BODY INDUSTRIAL COUNTRIES INFLATION INFLATION RATE INFLATION RATES INFRASTRUCTURE PROJECTS INTEREST PAYMENTS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL MARKET INTERNATIONAL TRADE INTERNET SERVICE PROVIDERS INVENTORIES INVENTORY INVESTMENT ACTIVITY INVESTMENT FINANCING INVESTOR CONFIDENCE INVESTOR INTEREST ISPS LEGAL BASIS LEVEL PLAYING FIELD LICENSES LOAN LOCAL CURRENCIES LOCAL CURRENCY LOCAL ECONOMY LOCAL GOVERNMENT This paper is one of several case studies prepared for the World Bank. The objective of the case studies is to provide the Commission on Growth and Development insights on the policy reform process in developing countries that give rise to economic growth. In contrast to other countries where economic reforms ushered in a long period of sustained growth, there is no such episode in Philippine economic history. Since the restoration of democracy in 1986, the Philippines under the Ramos administration came closest to breaking out of its 'sick man of Asia' image. The confidence generated by the administration among local and international players and analysts resulted from wide-ranging reforms rooted primarily in a sound macroeconomic and investor-friendly regime as well as global competitiveness. This study is not intended as a scorecard of the Ramos Administration. Rather, it concentrates on three specific sector reforms during the Ramos administration that demonstrate the elements of successful reform processes. These reforms not only helped to free up demands on public finances then- considered, in today's parlance, the 'binding constraint' on needed public investment and reduced risk premium to encourage private investments-but over time brought gains, some unforeseen and broader in terms of positive spillover effects on the rest of the economy, and linkage to overall growth today. 2017-08-28T17:13:48Z 2017-08-28T17:13:48Z 2008 Working Paper http://documents.worldbank.org/curated/en/900471468094150283/The-political-economy-of-reform-during-the-Ramos-Administration-1992-98 http://hdl.handle.net/10986/28020 English en_US Commission on Growth and Development Working Paper;No. 39 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research East Asia and Pacific Philippines |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO TELECOMMUNICATION ACTION PLAN AGRICULTURAL COMMODITIES AGRICULTURE ARBITRATION AUCTION BACKBONE BENCHMARK BID BIDS BINDING CONSTRAINT BINDING CONSTRAINTS BROKERAGE BUDGET DEFICIT BUDGETARY SUPPORT BUSINESS PROCESS BUSINESSES CALL CENTERS CAPITAL EXPENDITURES CAPITAL FORMATION CELLULAR PHONES CELLULAR SUBSCRIBERS CHECKS CLEARING HOUSE COMMODITY COMMODITY PRICES COMPETITIVENESS CONSUMER GROUPS CREDIBILITY CREDIT RATING CURRENT ACCOUNT BALANCE CUSTOMS DEBT STOCK DEMOCRACY DEREGULATION DEVELOPING COUNTRIES DEVELOPMENT BANK DIAL TONE DIRECT FOREIGN INVESTMENTS DOMESTIC CAPITAL DOMESTIC ECONOMY DOMESTIC INVESTORS DOMESTIC PRICES ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC LIBERALIZATION ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORMS END USER EQUIPMENT EQUITY CONTRIBUTIONS EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTERS EXPORTS EXTERNAL CONSULTANTS FAIR COMPETITION FINANCE CORPORATION FINANCIAL LIBERALIZATION FINANCIAL SERVICES FINANCIAL STATEMENTS FISCAL DISCIPLINE FISCAL POLICIES FIXED CAPITAL FORECASTS FOREIGN CAPITAL FOREIGN DEBT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INTERESTS FOREIGN INVESTMENTS FREE TRADE FREE TRADE AGREEMENT GDP GDP PER CAPITA GLOBAL COMPETITIVENESS GNP GOVERNMENT ASSETS GOVERNMENT DEFICITS GOVERNMENT FINANCES GOVERNMENT OWNERSHIP GOVERNMENT POLICIES GROSS VALUE GROWTH PATH GROWTH RATE IMAGE INCOME INCOME GROWTH INDEPENDENT REGULATORY BODY INDUSTRIAL COUNTRIES INFLATION INFLATION RATE INFLATION RATES INFRASTRUCTURE PROJECTS INTEREST PAYMENTS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL MARKET INTERNATIONAL TRADE INTERNET SERVICE PROVIDERS INVENTORIES INVENTORY INVESTMENT ACTIVITY INVESTMENT FINANCING INVESTOR CONFIDENCE INVESTOR INTEREST ISPS LEGAL BASIS LEVEL PLAYING FIELD LICENSES LOAN LOCAL CURRENCIES LOCAL CURRENCY LOCAL ECONOMY LOCAL GOVERNMENT |
| spellingShingle |
ACCESS TO TELECOMMUNICATION ACTION PLAN AGRICULTURAL COMMODITIES AGRICULTURE ARBITRATION AUCTION BACKBONE BENCHMARK BID BIDS BINDING CONSTRAINT BINDING CONSTRAINTS BROKERAGE BUDGET DEFICIT BUDGETARY SUPPORT BUSINESS PROCESS BUSINESSES CALL CENTERS CAPITAL EXPENDITURES CAPITAL FORMATION CELLULAR PHONES CELLULAR SUBSCRIBERS CHECKS CLEARING HOUSE COMMODITY COMMODITY PRICES COMPETITIVENESS CONSUMER GROUPS CREDIBILITY CREDIT RATING CURRENT ACCOUNT BALANCE CUSTOMS DEBT STOCK DEMOCRACY DEREGULATION DEVELOPING COUNTRIES DEVELOPMENT BANK DIAL TONE DIRECT FOREIGN INVESTMENTS DOMESTIC CAPITAL DOMESTIC ECONOMY DOMESTIC INVESTORS DOMESTIC PRICES ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC LIBERALIZATION ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORMS END USER EQUIPMENT EQUITY CONTRIBUTIONS EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTERS EXPORTS EXTERNAL CONSULTANTS FAIR COMPETITION FINANCE CORPORATION FINANCIAL LIBERALIZATION FINANCIAL SERVICES FINANCIAL STATEMENTS FISCAL DISCIPLINE FISCAL POLICIES FIXED CAPITAL FORECASTS FOREIGN CAPITAL FOREIGN DEBT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INTERESTS FOREIGN INVESTMENTS FREE TRADE FREE TRADE AGREEMENT GDP GDP PER CAPITA GLOBAL COMPETITIVENESS GNP GOVERNMENT ASSETS GOVERNMENT DEFICITS GOVERNMENT FINANCES GOVERNMENT OWNERSHIP GOVERNMENT POLICIES GROSS VALUE GROWTH PATH GROWTH RATE IMAGE INCOME INCOME GROWTH INDEPENDENT REGULATORY BODY INDUSTRIAL COUNTRIES INFLATION INFLATION RATE INFLATION RATES INFRASTRUCTURE PROJECTS INTEREST PAYMENTS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL MARKET INTERNATIONAL TRADE INTERNET SERVICE PROVIDERS INVENTORIES INVENTORY INVESTMENT ACTIVITY INVESTMENT FINANCING INVESTOR CONFIDENCE INVESTOR INTEREST ISPS LEGAL BASIS LEVEL PLAYING FIELD LICENSES LOAN LOCAL CURRENCIES LOCAL CURRENCY LOCAL ECONOMY LOCAL GOVERNMENT Bernardo, Romeo L. Tang, Marie-Christine G. The Political Economy of Reform during the Ramos Administration (1992-98) |
| geographic_facet |
East Asia and Pacific Philippines |
| relation |
Commission on Growth and Development Working Paper;No. 39 |
| description |
This paper is one of several case
studies prepared for the World Bank. The objective of the
case studies is to provide the Commission on Growth and
Development insights on the policy reform process in
developing countries that give rise to economic growth. In
contrast to other countries where economic reforms ushered
in a long period of sustained growth, there is no such
episode in Philippine economic history. Since the
restoration of democracy in 1986, the Philippines under the
Ramos administration came closest to breaking out of its
'sick man of Asia' image. The confidence generated
by the administration among local and international players
and analysts resulted from wide-ranging reforms rooted
primarily in a sound macroeconomic and investor-friendly
regime as well as global competitiveness. This study is not
intended as a scorecard of the Ramos Administration. Rather,
it concentrates on three specific sector reforms during the
Ramos administration that demonstrate the elements of
successful reform processes. These reforms not only helped
to free up demands on public finances then- considered, in
today's parlance, the 'binding constraint' on
needed public investment and reduced risk premium to
encourage private investments-but over time brought gains,
some unforeseen and broader in terms of positive spillover
effects on the rest of the economy, and linkage to overall
growth today. |
| format |
Working Paper |
| author |
Bernardo, Romeo L. Tang, Marie-Christine G. |
| author_facet |
Bernardo, Romeo L. Tang, Marie-Christine G. |
| author_sort |
Bernardo, Romeo L. |
| title |
The Political Economy of Reform during the Ramos Administration (1992-98) |
| title_short |
The Political Economy of Reform during the Ramos Administration (1992-98) |
| title_full |
The Political Economy of Reform during the Ramos Administration (1992-98) |
| title_fullStr |
The Political Economy of Reform during the Ramos Administration (1992-98) |
| title_full_unstemmed |
The Political Economy of Reform during the Ramos Administration (1992-98) |
| title_sort |
political economy of reform during the ramos administration (1992-98) |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/900471468094150283/The-political-economy-of-reform-during-the-Ramos-Administration-1992-98 http://hdl.handle.net/10986/28020 |
| _version_ |
1764465983560351744 |