The “Mini‐Marshall Plan” For The Philippines

Throughout most of 1989 it seemed that the mini-Marshall Plan for the Philippines would be the most prominent story about that country. It had been two years since the August 19H7 failed coup attempt, and the cycle of establishing a new electoral democracy was completed in March 1989 with the barangay (neighbourhood) elections. The country could turn its full attention to the task of economic development, and increased levels of foreign assistance looked to be central to that quest. This picture changed with the 1 December 1989 abortive coup, the longest, bloodiest, and most serious of the attempts which have dogged President Aquino's government since its installation in February 1986. After the coup, media attention turned to questions regarding stability: Would Mrs Aquino last until the end of her term in 1992, or will a coup oust her? While the answer to this question lies mainly in the military domain (for example, can effective discipline be restored?), there are also economic components. Certainly, the Filipino corporate ?lite believes so and injected money into the stock markets to prevent a post-coup crash, reflecting a desire for stability.1 And, prospects for post coup stability stem from other than just domestic sources. As The Economist has it

Archaeology · Geography · Marshall Plan · Plan (archaeology · Political science · Politics · Law · Philippine History and Culture

• The Philippine foreign policy of the Ramos administration

  Frank Cibulka•Asian Journal of Political Science•1999

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