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Mercantile Transformations: Understanding the State, Global Debt and Philippine Agriculture

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  • Bruce Koppel

Abstract

This paper examines an important continuity in the political economy of the Philippines: the interplay between domestic merchant capitalists and the state over the role of the state in the Philippine economy. During the Marcos regime, this interplay increasingly took the form of competition between state mercantile interests and ‘private’ merchant interests. This competition is still being played out. To better understand the nature of the competition, consideration is focused on two essential contemporary facts: the Philippines has a major external debt crisis and the Philippines, still predominantly an agrarian country, suffers from stagnant productivity growth and enduring rural poverty. While the Philippine external debt problem can be attributed in significant part to various international hegemonic interests, the analysis concludes that the characteristics of the crisis primarily reflect changing state/class/economy configurations within the Philippines. These same configurations, in turn, significantly influence the implications of the external debt crisis on Philippine agriculture.

Suggested Citation

  • Bruce Koppel, 1990. "Mercantile Transformations: Understanding the State, Global Debt and Philippine Agriculture," Development and Change, International Institute of Social Studies, vol. 21(4), pages 579-619, October.
    • Handle: RePEc:bla:devchg:v:21:y:1990:i:4:p:579-619
    DOI: 10.1111/j.1467-7660.1990.tb00391.x
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    References listed on IDEAS

    as
    1. Cabanilla, Liborio S., 1983. "Economic Incentives and Comparative Advantage in the Livestock Industry," Working Papers WP 1983-07, Philippine Institute for Development Studies.
    2. Balisacan, Arsenio M. & Unnevehr, L.J., 1983. "Changing Comparative Advantage in Philippine Rice Production," Working Papers WP 1983-03, Philippine Institute for Development Studies.
    3. Manuel F. Montes, 1989. "The Effect of Ricardian Rent on Macroeconomic Performance," UP School of Economics Discussion Papers 198903, University of the Philippines School of Economics.
    4. Solita C. Monsod, 1989. "Debt or Development : Philippine Imperatives and The Conventional Strategy for Debt Management," UP School of Economics Discussion Papers 198916, University of the Philippines School of Economics.
    5. James Petras & Howard Brill, 1988. "Latin America's Transnational Capitalists and the Debt: A Class‐Analysis Perspective," Development and Change, International Institute of Social Studies, vol. 19(2), pages 179-201, April.
    6. Reyes, Edna A., 1987. "The Structure of Rural Household Income and Its Implications on Rural Poverty in Bicol, Philippines," Philippine Journal of Development JPD 1987 Vol. XIV No. 2-d, Philippine Institute for Development Studies.
    7. Hamilton, Clive, 1989. "The irrelevance of economic liberalization in the Third World," World Development, Elsevier, vol. 17(10), pages 1523-1530, October.
    8. Larry L. Burmeister, 1990. "State, Industrialization and Agricultural Policy in Korea," Development and Change, International Institute of Social Studies, vol. 21(2), pages 197-223, April.
    9. Manasan, Rosario G., 1988. "The Size, Financing and Impact of the Public Sector Deficit, 1975-198," Working Papers WP 1988-03, Philippine Institute for Development Studies.
    10. Koppel, Bruce, 1987. "Does integrated area development work? Insights from the Bicol River Basin Development Program," World Development, Elsevier, vol. 15(2), pages 205-220, February.
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    Cited by:

    1. Philip McMichael & David Myhre, 1990. "Global Regulation vs. the Nation-State: Agro-Food Systems and the New Politics of Capital," Review of Radical Political Economics, Union for Radical Political Economics, vol. 22(1), pages 59-77, March.

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