1972 is a year that will always be remembered for this has been the year when martial law has been declared. On the fiscal system, the fundamental restructuring of the country’s political system has lead to a profound impact on the fiscal system. The case study presented in this series has dealt with the effects of an authoritarian system to the country’s fiscal sector. It evaluates the reforms that have been instituted during martial law and explains why and how these reforms have failed. A summary of the insights gained in the exercises performed is also presented.
The Political Economy of Fiscal Policy in the Philippines
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