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Economic History Of The Philippines (1965–1986)
The economic history of the Philippines during the Marcos regime (1965-1986) was a period of economic stress. The first years of Ferdinand Marcos' administration continued the growth of previous administrations of the Third Philippine Republic, peaking at nearly 9 percent in 1973 and 1976. However, in the later years, the worst recession in Philippine history occurred, with the economy contracting by 7.3% in both 1984 and 1985. The dramatic rise and fall of the Philippine economy during this period is attributed to the Marcos administration's use of foreign loans (debt-driven as opposed to productivity-driven growth). Philippine Gross Domestic Product (GDP) grew from $5.27 billion in 1964 to $37.14 billion in 1982, before declining to $30.7 billion in 1985. This included growth from $8 billion in 1972 to $32.45 billion in 1980 – 6%/year, its best results since 1945. The economy grew despite global oil shocks following the 1973 and 1979 energy crises. However, its policy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GDP Per Capita Development In The Philippines 1965-1986
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund. GDP is often used as a metric for international comparisons as well as a Broad measures of economic progress, broad measure of economic progress. It is often considered to be the world's most powerful statistical indicator of national development and progress. The GDP can be divided by the total population to obtain the average List of countries by GDP (nominal) per capita, GDP per capita. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cacique Democracy
Cacique democracy is a term that has been used to describe what has been observed as the feudal political system of the Philippines, where in many parts of the country local leaders remain very strong, with warlord-like powers. The term was originally coined by Irish-American political scientist Benedict Anderson. History The Philippines was a colony of Spain from the late sixteenth century until the Philippine Revolution of 1898. But the United States, despite promising independence like Cuba, bought the country and wrestled control, succeeding by 1902. The U.S. administration subsequently introduced many commercial, political and administrative changes, trade limits, agricultural and immigration sanctions, and machine importation restrictions. They were sometimes quite progressive and directed towards the "modernization" of government and commerce in the Philippines. However, the local traditional Filipino elites, being better educated and better connected than much of the local ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rafael Salas
Rafael Montinola Salas (August 7, 1928 – March 3, 1987) was a Filipino, the first head of the United Nations Population Fund. His tenure started at the agency's inception in 1969 and ended with his unexpected death in 1987. Prior to accepting the UN post, Salas served as 16th Executive Secretary to Philippine President Ferdinand Marcos until a falling-out on policy differences prompted his resignation from the Marcos government in 1969. Early life Salas was born in Bago, Negros Occidental, Philippines on August 7, 1928, one of three children of Ernesto Araneta Salas and Isabel Neri Montinola. After World War II, Salas went to Manila to continue his education and obtained his B.A. (''magna cum laude'') from the University of the Philippines Diliman in 1950. Three years later, he completed his law degree (''cum laude'') from the U.P. College of Law. He then attended Harvard University, where he finished his master's degree in public administration in 1955. He returned to his ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vicente Paterno
Vicente Tirona Paterno (November 18, 1925 – November 21, 2014) was a Filipino businessman and politician. He served as Minister of Industry from 1974 to 1979 and of Minister of Public Highways from 1979 to 1980, during the Ferdinand Marcos' government. He also served as a member of the Interim Batasang Pambansa from 1978 to 1984 and later as Senator from 1987 to 1992. Early life Vicente Tirona Paterno was born in Quiapo, Manila on November 18, 1925, to Jose P. Paterno and Jacoba Encarnacion Tirona. Education He was a graduate of De La Salle high school class 41 and later on earned his Bachelor of Science in Mechanical Engineering at the University of the Philippines Diliman in 1948 and obtained Master of Business Administration at Harvard University in 1953. Paterno was a lecturer in graduate school of the University of the Philippines, De La Salle University and Ateneo de Manila University from 1954 to 1962. Political career He was elected as a representative to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernesto Maceda
Ernesto Madarang "Ernie" Maceda Sr. (March 26, 1935 – June 20, 2016) was a Filipino politician, lawyer, and columnist who served as a Senator of the Philippines from 1971 to 1972 and again from 1987 to 1998. He served as Senate President from 1996 to 1998. Early life and career Maceda was born on March 26, 1935, in Pagsanjan, Laguna to Antonio Maceda (1892–1969) and Corazon Vergara Madarang (1912–2008). Maceda earned his Associate in Arts degree, magna cum laude, in 1952, and Bachelor of Laws degree, cum laude, from the Ateneo de Manila University in 1956. He then finished Master of Laws, taxation and international law, at Harvard Law School, Massachusetts, United States, in 1957. At the age of 23, he was hailed as the No. 1 councilor of Manila in 1959. Because of his numerous achievements in the then Manila Municipal Board, Councilor Maceda was named “Outstanding Councilor of Manila". Roles in the Marcos Cabinet In 1966, Maceda was appointed the Presidential Ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction And Development Corporation Of The Philippines
The Philippine National Construction Corporation (PNCC) is a government-owned and controlled corporation (GOCC) in the Philippines. It is the largest construction company in the Philippines and in Southeast Asia. It is usually tasked with major construction works, especially in the field of infrastructure. The PNCC has extensive operations in the Philippines, and has also been involved in projects and has or had operations in various other countries, notably in Saudi Arabia, Iraq, Hong Kong, Malaysia, and Indonesia. History The PNCC was established in 1966 by virtue of an executive order during the administration of the Former President Ferdinand Marcos as the Construction and Development Corporation of the Philippines (CDCP), with the corporation being led by Rodolfo Cuenca, a crony. It was granted a 50-year franchise to commission and perform construction works throughout the Philippines. In 1977, Presidential Decree No. 1113 was issued, granting the CDCP a 30-year franc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rodolfo Cuenca
Rodolfo Cuenca (May 1, 1928 – October 2023), sometimes known by his nickname, Rudy Cuenca, was a Filipino businessman best known as the chairman of the Construction and Development Corporation of the Philippines (CDCP), which is known today as the Philippine National Construction Corporation. He was a close associate of Ferdinand Marcos, and was noted not to be embarrassed by "''his much-criticized close association with Marcos and his being tagged as a crony.''" Early life and education Rodolfo Cuenca was born on May 1, 1928, at the Philippine General Hospital in Manila, to Nicolas and Cristina Cuenca. He was the eldest among four children. Cuenca spent his early years in Vigan, as his father was assigned as district engineer in Ilocos Sur. In 1937, the family transferred to Bulacan, where Cuenca finished his fourth and fifth grade. He continued sixth grade in Ateneo de Manila on Padre Faura Street, then transferred to the Intramuros campus for his seventh grade. During th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine National Bank
The Philippine National Bank (PNB, ; ; Hokkien in the Philippines, Hokkien ) is a major Filipino bank based in Pasay in the Philippines. It was established by the Philippine government on July 22, 1916, during the Insular Government, American Era. The bank became the first universal bank in the Philippines in 1980 and was acquired by tycoon Lucio Tan after it was privatized by the government in 1989. After its merger with the Tan-owned Allied Banking Corporation, Allied Bank on February 9, 2013, PNB became the fifth largest private domestic bank in the country. , PNB was the seventh largest banks in the Philippines by assets. It has 713 domestic branches and more than 1,400 ATMs. PNB has more than 70 overseas branches, representative offices, remittance centers and subsidiaries across Asia, Europe, the Middle East, and North America. History Early years The Philippine National Bank was established as a government-owned banking institution on July 22, 1916. Its primary ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roberto Benedicto
Roberto Salas Benedicto (April 17, 1917 – May 15, 2000) was a Filipino lawyer, ambassador, diplomat, and banker historically most remembered as a crony of President Ferdinand Marcos. Benedicto owned Philippine Exchange Company, the '' Philippines Daily Express'', Radio Philippines Network (RPN), Banahaw Broadcasting Corporation (BBC) and Intercontinental Broadcasting Corporation (IBC). Benedicto was the Philippines' ambassador to Japan from 1972 to 1978. At the prime of his career, Benedicto's business empire consisted of 85 corporations, 106 sugar farms, 14 haciendas, other agricultural lands, 17 radio stations, 16 television stations, 2 telecommunications networks, 7 buildings, 10 vessels and 5 aircraft. He also owned 14 hectares of real estate in Bacolod City, 13.5 billion shares in Oriental Petroleum, and membership shares in golf and country clubs estimated at almost half a million US dollars. Overseas, he owned a sugar mill in Venezuela, a trading company in Madr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Behest Loans
The term behest loan refers to a loan granted to individuals or corporations favored by a powerful government official despite their lack of qualifications to receive such a loan. It is a mechanism for graft and political corruption particularly used in authoritarian regimes, where financial institutions such as banks are placed under intense pressure to approve such loans "at the behest" of high officials. The term has historically been most associated with the cronies of Ferdinand Marcos Certain associates of former Philippine President Ferdinand Marcos, historically referred to using the catchphrase "Marcos cronies", benefited from their friendship with Marcos – whether in terms of legal assistance, political favors, or faci ..., although other officials have also been accused of engaging in the practice. References {{philippines-stub political corruption Presidency of Ferdinand Marcos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Raul Manglapus
Raul Sevilla Manglapus (October 20, 1918 – July 25, 1999) was a prominent post–World War II Filipino politician and songwriter. He co-founded the reformist Progressive Party of the Philippines and the Christian Democratic Socialist Movement in 1968 (later renamed the National Union of Christian Democrats). He was elected to the Senate by a landslide in 1961 and ran for president in 1965, but lost to eventual winner Ferdinand Marcos. He once again became Secretary of Foreign Affairs under President Corazon Aquino in 1987. His name is inscribed on the wall of the Philippines' Bantayog ng mga Bayani, which honors the heroes and martyrs who fought authoritarian rule. However, Manglapus has also drawn the ire of feminist movements for his preconceived notions and controversial sexist remarks during his lifetime. Personal life He was married to Pacita La'O. His father was Congressman Valentin Manglapus of Ilocos Sur, and his mother was Justina Sevilla of Malabon, Rizal. Early ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diosdado Macapagal
Diosdado Pangan Macapagal Sr. (; September 28, 1910 – April 21, 1997) was a Filipino lawyer, poet and politician who served as the 9th President of the Philippines, serving from 1961 to 1965, and the 5th Vice President of the Philippines, Vice President, serving from 1957 to 1961. He also served as a member of the House of Representatives of the Philippines, House of Representatives, and headed the 1970 Philippine Constitutional Convention election, Constitutional Convention of 1970. He was the father of Gloria Macapagal Arroyo, who followed his path as President of the Philippines from 2001 to 2010. Known as "The Poor Boy From Lubao", he was a native of Lubao, Pampanga. Macapagal graduated from the University of the Philippines Manila, University of the Philippines and University of Santo Tomas, both in Manila, after which he worked as a lawyer for the government. He first won the election in 1949 to the House of Representatives, representing the Pampanga's 1st congressiona ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
