Open AccessGlobalization versus Integration - The Quest for Appropriate Market System in the Philippines
Author(s) -
Arthur M. Alvendia,
Irina Yurievna Kireeva
Publication year - 2014
Publication title -
international journal of social science research
Language(s) - English
Resource type - Journals
ISSN - 2327-5510
DOI - 10.5296/ijssr.v2i1.4449
Subject(s) - conviction , endowment , capitalism , politics , corporate governance , civil liberties , capital (architecture) , globalization , economics , political economy , sociology , law , economic system , market economy , political science , finance , geography , archaeology
The Philippines is essentially a nation of micro and small producers living in a group of islands that is very rich in agricultural, fisheries, forest, mineral, and touristic resources. Hence, the participation of this nation in the global economy should be grounded on this structure and resource endowment. While these define the demographic and economic makeup of the Filipino, it is his deep socio-political and moral belief in freedom and capitalism that has shaped his psycho-cultural make-up. It is his deep conviction that progress must come with and thru the exercise of civil liberties, that has led to a doctrinaire adherence to market economics enforced by a rigid institutional systems in finance, governance and laws.