Dutertenomics: Populism, Progress, and Prospects. (7th January 2020)

• Record Type: Journal Article
• Authors: Capuno, Joseph J.
• Is Part Of: Asian economic policy review. Volume 15:Number 2(2020:Dec.)
• Page Start: 262
• Page End: 279
• Publication Date: 2020-01-07
• Subjects: economic policy -- macroeconomic performance -- Philippines -- populism -- E20 -- E60 -- O53; Finance -- Asia -- Periodicals; Asia -- Economic conditions -- Periodicals; Asia -- Economic policy -- Periodicals; 330.95
• DOI: 10.1111/aepr.12296
• Languages: English
• ISSNs: 1832-8105

Abstract

Abstract: In 2016, when Rodrigo Duterte was elected Philippine President the economy was growing robustly. Despite the record growth, his election is considered a populist revolt of the middle‐ and upper‐class Filipinos. Yet, his economic policies – from his initial 10‐point agenda to the laws he approved – are liberal. This paper distinguishes and relates Duterte's authoritarian‐populist political style ("Dutertismo") and his economic agenda ("Dutertenomics"). The distinction follows from his lack of interest in economic affairs, which he delegated to his team of economic managers. This team ably pushes important economic reforms because of the president's style, which so far has earned him wide public approval. After slowing down during the first half of Duterte's term, growth has recently picked up. To keep the momentum and public attention off human rights violations, Duterte needs to accomplish his economic agenda by mid‐2022. Drawing on his powers and popularity, he may yet be able to elicit the full support of Congress.