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Economic Growth, Income Inequality and Social and Political Unrest in the Philippines

  • Chapter
Growth, Distribution and Political Change

Part of the book series: Studies in the Economies of East and Southeast Asia ((SEESEA))

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Abstract

The main purpose of this chapter is to reconsider income inequality in the Philippines from a social and political perspective, as well as to review the economic consequences. The political situation in the Philippines continues to lack stability even after the debacle of the Marcos regime and the restoration of public order. Economic stagnation which stemmed from the political turmoil, has persisted more than 10 years. What, then, is the background of this stagnant economy and political instability? The key characteristics of the Philippine economy may quickly be summarized. There is high dependence on the export of commercial crops; a substantial economic gap between the rich and the poor which has long persisted; and a balance of payments deficit since independence. These characteristics may help account for the present stagnant economy and continued social instability.

The author thanks Professor K. Odaka, Professor R. Minami and participants of the Workshop on Income Distribution and Social-Political Stability for invaluable comments on the earlier version of the chapter.

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Authors
  1. Yasuhiro Terasaki
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Editor information

Editors and Affiliations

  1. Faculty of Economics, Tokyo Keizai, Japan

    Ryōshin Minami (Professor of Economics) (Professor of Economics)

  2. Kellogg Institute for International Studies, University of Notre Dame, Notre Dame, Indiana, USA

    Kwan S. Kim (Professor of Economics) (Professor of Economics)

  3. University of New England, Armidale, New South Wales, Australia

    Malcolm Falkus (Professor of Economic History) (Professor of Economic History)

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© 1999 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Terasaki, Y. (1999). Economic Growth, Income Inequality and Social and Political Unrest in the Philippines. In: Minami, R., Kim, K.S., Falkus, M. (eds) Growth, Distribution and Political Change. Studies in the Economies of East and Southeast Asia. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-14356-6_8

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