The Philippines: Too Much Pessimism over a Marcos Presidency

Macroeconomics

187 Views, 10 May 2022 20:55

EXECUTIVE SUMMARY

Ferdinand "Bongbong" Marcos secured a majority of votes, which is no mean feat, given that political parties are overshadowed by the familial elites who dominate Philippine politics.
Marcos' victory reflects the failure of the EDSA movement to deliver the economic goods, which chimes with President Duterte's appeal, despite his War on Drugs and human rights record.
There is a material likelihood that Marcos could manage the inter-elite contestations to push through reforms that his predecessor failed to do, despite significant political capital on hand.

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