The antiquated provision: Protectionism on public utilities

• Main Authors: Medalla, Sarah C., Yap, Monica Anne T.
• Format: text
• Language: English
• Published: Animo Repository 2012
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/11948
• Institution: De La Salle University

During the late 20th century, the Philippines have concurred with the new trend globalization in its economy. It entered the global economy unprepared it has failed to assemble a policy that would have made it successful or competent in a global sense. Since 1935, the constitution has been constantly modified to meet the changing demands of the present-day situation and twenty-five years has passed since the last revisions of the 1987 Philippine Constitution. The Philippines failed to implement policies that would prepare the country for global competitiveness. For that reason, it rendered some of the economic provisions found in the 1987 Constitution outdated. Such issue on amending the economic provisions has been raised several times since the presidency of Fidel V. Ramos until the present. They alleged that the 60-40 equity ratio hinders more foreign investors in the country and thus, hinders the country's economic growth as well. If such economic provision would be amended, it could possibly provide more employment for the Filipinos and would provide sufficient capital that would lead to the country's economic growth and global competitiveness.