The advent of globalization has introduced strong competitive pressures in many domestic markets. While it rewards most competitive economies, it poses numerous challenges to most developing countries. As the Philippines faces the challenges of an increasingly complex global economy, it has adopted both economic and political reforms that are meant to help ensure its viability and survival. While the growth and development process was hindered for a time by successive political upheavals, the 1990s saw the Philippine government adopt a more concerted policy approach designed to promote liberalization and achieve higher economic growth. While the previous administrations have succeeded in introducing structural reforms meant to open some sectors of the economy to competition, sustaining and deepening these reforms is the bigger challenge ahead. Much needs to be done in sustaining the momentum by extending the various pro-competitive reforms in a well-defined and transparent manner. Rico BURAGA, Program in Economic Development Policy and Management KAWASHIMA Fujio, Graduate School of International Development, Nagoya University http://www.gsid.nagoya-u.ac.jp/fkawa/kawashimaeng.html
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