Historical Context of Economic Development in the Philippines PDF
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This presentation explores the historical context of economic development in the Philippines, covering the pre-colonial period's trade and agricultural systems, through to the colonial period under Spanish rule. This presentation highlights the historical development of agricultural production, trade routes, and subsequent economic shifts and decisions.
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# Historical Context of Economic Development in the Philippines ## Presented by Group 1 ## Economic History - Economic history studies past economic events by applying economic theory to understand how historical contexts shaped economies. - Philippine economic history reflects growth alongside t...
# Historical Context of Economic Development in the Philippines ## Presented by Group 1 ## Economic History - Economic history studies past economic events by applying economic theory to understand how historical contexts shaped economies. - Philippine economic history reflects growth alongside the exploitation of resources by colonizers for their imperialist aims. - Studying our economic history allows us to understand the economic decisions being made today. ## Pre-Colonial Period (900s-1565) - Before the Spanish colonization, the Philippines had a vibrant economy characterized by trade with the neighboring regions, agriculture, and craft production. - The barter system provided the pre-colonial people access to imported goods that shaped their fashion, lifestyle, and governance systems. - Marketplaces called "tiangge" were where traders gathered. - Trade systems had routes to facilitate exchanges. - Subsistence and agriculture were often practiced in communities with economies relying on local resources. - Crop and livestock were produced for consumption and trade. - Skilled craftsmen and artists produced market goods. - Social structures had economic roles tied to social hierarchies by trade and craft specialization. ## Colonial Period ### Spanish Colonization (1565-1898) - Spanish implemented new agricultural practices and introduced crops like tobacco, coffee, and sugarcane, which became major export products. - The Colonial government established the encomienda system. - The barter system was replaced by a cash-based economy. - Galleon trade involves Spanish galleons participating in a trade across the Pacific and Atlantic. - Export-oriented agriculture shifted the local economies, and it often undermined some traditional practices. - Infrastructure improvements such as roads and ports were made to support trade for benefits. - Galleon trade route connected Manila to Mexico, facilitating the flow of goods and silver. - Agricultural production focused on trading cash crops.
